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Hungary's June CPI rises to 11.7% y/y, core inflation jumps -stats

·1-min read

BUDAPEST (Reuters) - Hungarian headline inflation rose to 11.7% year-on-year in June, exceeding analyst forecasts for a 11.5% increase, while core inflation surged from the previous month, data showed on Friday.

Core inflation, calculated with a revised methodology, accelerated to 13.8% from 12.2% in May, above analysts' 13% forecast in a Reuters survey.

The KSH said annual price increases were driven by higher food and consumer durables prices.

Inflation rose further even as the government continues capping fuel prices, energy bills and the prices of some basic foodstuffs, as well as mortgage rates.

As of April 2021, the KSH no longer includes alcohol and tobacco prices in its core inflation figure. The National Bank of Hungary targets 3% headline inflation with a tolerance band of a percentage point on either side.

INFLATION (% change) June 2022 May 2022 June 2021

Headline CPI m/m 1.5 1.7 0.6

Headline CPI y/y 11.7 10.7 5.3

Core CPI y/y 13.8 12.2 3.8

(Reporting by Krisztina Than)

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