The Central Statistical Office (KSH) said on Wednesday that consumer prices in Hungary grew by an annual 7.4 percent in November, after hitting 6.5 percent in October.
Prices in the category of goods that includes vehicle fuel increased by an annual 15.1 percent, as vehicle fuel prices jumped 37.7 percent, spirits and tobacco prices rose by 11 percent, lifted by a 16.8 percent increase in tobacco prices. Food prices grew by 6 percent, while household energy prices edged 0.9 percent higher. Consumer durables increased by 6.6 percent, clothing prices by 1.8 percent, and services by 4.6 percent. Harmonized for better comparison with other European Union member states, CPI was 7.5 percent. Core inflation, which excludes volatile food and fuel prices, was 5.3 percent. Month on month, inflation notched up 0.7 percent. Inflation is at the highest level in years and well beyond the Hungarian central bank’s 2-4 percent tolerance band.
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