Hungary Inflation Eases To 4.3%

Hungary's consumer price inflation softened for the first time in three months in July, the Hungarian Central Statistical Office said on Friday.

Consumer prices rose 4.3 percent year-on-year in July, slower than the 4.6 percent increase in June. The expected inflation rate was 4.1 percent.

Moreover, the inflation rate continued to remain well above the central bank's target of 3.0 percent.

Data showed that core inflation moderated to 4.0 percent from 4.4 percent a month ago.

The annual price growth in food products eased to 4.6 percent from 4.9 percent, and a 0.2 percent fall in transport costs also impacted the slowdown in inflation. Meanwhile, inflation based on housing and utilities quickened to 8.3 percent from 7.2 percent.

On a monthly comparison, consumer prices moved up 0.4 percent, after rising 0.1 percent in June.

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