Hungary Inflation Rises To 15-month High

(RTTNews) - Hungary's consumer price inflation increased unexpectedly in February to the highest level in more than a year, the Hungarian Central Statistical Office said on Tuesday.

Consumer prices rose 5.6 percent year-on-year in February, slightly faster than the 5.5 percent increase in January. Meanwhile, economists had expected inflation to ease to 5.3 percent.

This was the highest inflation rate since November 2023, when prices rose 7.9 percent.

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

Core inflation also accelerated to a 14-month high of 6.2 percent from 5.8 percent a month ago.

The annual price growth in food products accelerated to 7.1 percent from 6.0 percent, and costs for services grew sharply by 9.2 versus an 8.5 percent surge a month ago.

On the other hand, utility costs rose 0.2 percent after a 0.2 percent rebound seen in January.

On a monthly comparison, consumer prices increased 0.8 percent, slower than the previous month's 1.5 percent rise.