Hungary Inflation Remains Steady; Industrial Production Rises As Estimated

Hungary’s consumer price inflation remained stable in January, data from the Hungarian Central Statistical Office showed on Friday.

Separate data from the statistical office showed that industrial production increased in December, as initially estimated.

The consumer price index rose 2.7 percent year-on-year in January, same as seen in December. Economists had expected a rise of 2.8 percent. This was in line with economists’ expectation.

Price for food gained 3.9 percent annually in January and those of alcoholic beverages and tobacco surged by 9.9 percent. Prices for consumer durables grew by 3.1 percent.

On a month-on-month basis, consumer prices increased 0.9 percent in January, following a 0.3 percent rise in the previous month.

Core consumer prices rose 4.2 percent annually in January and increased 0.7 percent from the previous month.

The EU measure of harmonized index of consumer prices, or HICP, rose 2.9 percent yearly in January and grew 0.9 percent from the prior month.

Separate data from the statistical office showed that the industrial production gained a working-day adjusted 1.1 percent annually in December, slower than 1.5 percent growth in November. This was in line with initial estimated.

Industrial production volume grew 5.8 percent yearly in December, as initially estimated.

On a monthly basis, industrial production fell a seasonally adjusted 2.4 percent in December, following a 1.0 percent decline in the previous month, as estimated.

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