Hungarian inflation up 2.8 pct in September

Source: Xinhua| 2019-10-08 22:42:35|Editor: yan
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BUDAPEST, Oct. 8 (Xinhua) -- Hungarian consumer prices were 2.8 percent higher on average in September 2019 than a year earlier, according to a statement by the Hungarian Central Statistical Office (KSH) here on Tuesday.

Compared to September 2018, food prices went up by 5.1 percent, within which the price of pork rose by 13.3 percent, that of bread by 8.5 percent, the price of flour 7.2 percent and that of seasonal food items (potatoes, fresh vegetables and fruits) were 6.5 percent higher, whereas milk prices decreased by 3.7 percent, according to KSH.

The price of alcoholic beverages and tobacco rose by 8.4 percent on average. Consumers paid 3.4 percent more for services, within which rent increased by 10.7 percent. The price of motor fuels was declined by 4.6 percent, KSH added.

The 2.8 percent figure shows that Hungarian inflation is kept within the range of 3 percent inflation target of the Hungarian central bank MNB.

Since May 2016 MNB has maintained its main policy rate at the historically low level of 0.9 percent to serve this purpose.

At the same time, the Hungarian currency, the forint is at record low-level compared to the euro and the U.S. dollar, which could prompt MNB to increase its base rate.