Central Statistical Office: Annual inflation in Hungary reached 2.0% in October.

Consumer prices in October were, on average, 2.0% higher than in the same month a year earlier, following an annual inflation rate of 1.6% in September. The pace of annual price increases was the highest since April, the Hungarian Central Statistical Office (KSH) reported on Tuesday.

Analysts had expected a similar increase, forecasting inflation of 1.9%.

Compared with September, prices rose by 0.4%.

Annual core inflation increased from 1.9% in September to 2.1%, while the consumer price index calculated for the pensioner consumption basket rose from 1.1% to 1.4%.

Food prices fell by 1.1%, or by 4.1% excluding catering services. Within this category, the prices of potatoes increased by 14.0%, espresso coffee by 6.3%, cooking oil by 6.2%, workplace subscription-based meals by 6.0%, school meals by 5.7%, buffet products by 5.3%, non-subscription restaurant meals by 5.2%, and sweets and honey by 2.7%.

Meanwhile, the prices of canned meat fell by 27.3%, butter and butter spreads by 14.0%, fresh domestic and tropical fruit by 12.9%, pork by 10.9%, cheese by 10.8%, milk by 8.9%, preserved meat-free foods by 8.7%, dried pasta by 7.6%, retail coffee by 7.0%, eggs by 6.9%, sugar by 5.9%, dairy products (excluding cheese) by 5.6%, poultry by 5.1%, chocolate and cocoa by 5.0%, and fresh vegetables by 0.9%, the KSH reported.

Service prices rose by 5.2%, compared with 4.9% in September. Within this category, taxi fares increased by 11.6%, postal services by 9.6%, personal care services by 9.0%, theatre tickets by 8.3%, vehicle repairs and maintenance by 7.7%, household appliance repairs by 7.6%, healthcare services by 7.1%, home repairs and maintenance by 7.0%, sports and museum admission tickets by 6.8%, clothing repairs and rentals by 6.6%, foreign holidays by 6.3%, telephone and internet services by 6.2%, and domestic holidays by 5.1%.

Prices of alcoholic beverages and tobacco products increased by 3.2%, with tobacco products alone rising by 4.2%.

Household energy prices fell by 4.3%, including an 11.2% decrease in piped gas prices, while electricity prices increased by 1.2%. Fuel prices rose by 11.3% year-on-year and by 3.0% month-on-month.

Prices of durable consumer goods increased by 1.4%. Within this category, jewellery became 23.3% more expensive, kitchen and other furniture by 5.1%, living room furniture by 2.3%, and used passenger cars by 1.1%. Meanwhile, television prices fell by 3.9%, refrigerators and freezers by 1.9%, motorcycles by 1.5%, and vacuum cleaners and air conditioners by 1.4%. Pharmaceutical products and medicines became 0.9% more expensive.

Monthly price changes compared with September

Compared with September, consumer prices increased by an average of 0.4%.

Food prices rose by an average of 0.2%, including catering services, and also by 0.2% excluding catering services.

Within this category, the prices of potatoes and other bakery products made from flour each increased by 1.9%, ice cream by 1.7%, eggs by 1.6%, canned fish by 1.5%, sugar by 1.4%, butter and butter spreads and fresh vegetables by 1.2% each, chocolate and cocoa by 0.6%, dairy products (excluding cheese) by 0.5%, margarine and cold cuts and sausages by 0.3% each, and espresso coffee by 0.2%.

By contrast, prices fell for dried pulses by 2.1%, bacon and pork by 1.0% each, dried pasta by 0.7%, canned meat, spices and seasonings, preserved fruit, and retail coffee by 0.6% each, and salami, dry sausage and ham, as well as cooking oil, by 0.5% each.

Service prices increased by an average of 0.2%. Within this category, theatre tickets became 8.1% more expensive, other long-distance travel services by 2.0%, and educational services by 1.2%. Meanwhile, domestic holidays became 3.4% cheaper, cinema tickets by 1.5%, foreign holidays by 0.8%, and sports and museum admission tickets by 0.4%.

Household energy prices fell by 0.3%, including a 3.9% decrease in firewood prices and a 0.1% decrease in piped gas prices, while electricity prices remained unchanged.

Prices of alcoholic beverages and tobacco products were unchanged. Clothing and footwear prices increased by 2.1%, the KSH reported.

(MTI)