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Hungary Inflation Increases In March

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Hungary’s consumer price inflation increased in March, led by higher prices for food, data from the Hungarian Central Statistical Office showed on Friday.

The consumer price index rose 8.5 percent year-on-year in March, following a 8.3 percent increase in February. Economists had expected an 8.7 percent rise.

Price for food grew 13.0 percent annually in March and those of alcoholic beverages and tobacco rose 7.0 percent. Prices for consumer durable and services grew by 16.1 percent and 6.0 percent, respectively.

On a month-on-month basis, consumer prices rose 1.0 percent in March, after a 1.1 percent increase in the prior month.

Core consumer prices rose 9.1 percent annually in March. Economists had forecast a rise of 8.5 percent.

On a monthly basis, the core CPI increased 1.1 percent in March.

The EU measure of harmonized index of consumer prices, or HICP, gained 8.6 percent annually in March and rose 1.0 percent from the prior month.

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