Forex News

Inflation in Hungary is higher than forecasts

The consumer price index in Hungary accelerated faster than expected in May to the highest level in fifteen months, according to data from the Central Statistical Office of Hungary.

The consumer price index in May rose by 2.8 percent compared to the same period last year, which is higher than in April, an increase of 2.3 percent. Economists had expected inflation to rise to 2.6 percent.

Moreover, it was the strongest inflation since February 2017, when prices increased by 2.9 percent.

Food prices rose 3.8 percent in May percent y / y, and service costs by 1.7 percent.

In monthly terms, consumer prices added 0.6 percent since April, when the index jumped by 0.7 percent. The expected increase was 0.5 percent.