Hungary Inflation Rises In October

Hungary consumer price inflation rose in October after easing in the previous month, the Hungarian Central Statistical Office reported on Friday.

The consumer price index rose 2.9 percent year-on-year in October, after a 2.8 percent increase in September. Economists had expected a 2.8 percent rise. In August, inflation was 3.1 percent.

Prices for food grew by 5.1 percent annually in October, and those of services, and electricity, gas and other fuels rose by 3.3 percent and 0.7 percent, respectively.

On a monthly basis, consumer prices rose 0.6 percent in October, following a 0.1 percent increase in the previous month. This was the highest in five months.

Core consumer prices rose 0.4 percent from the previous month and increased 4.0 percent annually in October.

Separate data from the statistical office showed that the industrial production grew a working-day adjusted 9.0 percent year-on-year in September, after a 2.7 percent rise in August. Economists had expected a 5.4 percent increase.

On a non-adjusted basis, industrial production grew 11.1 percent from a year ago.

On a monthly basis, industrial production rose 3.1 percent in September, after a 1.1 percent fall in the preceding month.

The material has been provided by InstaForex Company – www.instaforex.com