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Hungary Inflation Steady At 7.4%

Hungary's consumer price inflation remained stable in December, data from the Hungarian Central Statistical Office showed on Friday.

The consumer price index rose 7.4 percent year-on-year in December, same as seen in November. Economists had expected a 7.2 percent rise.

Price increases were measured over the last twelve months for motor fuels and alcoholic beverages and tobacco, the agency said.

Price for food grew 26.8 percent annually in December and those of alcoholic beverages and tobacco rose 8.9 percent. Prices for consumer durable and services rose by 7.5 percent and 5.0 percent, respectively.

On a month-on-month basis, consumer prices rose 0.3 percent in December, after a 0.7 percent increase in the prior month.

Core consumer prices rose 6.4 percent annually in December. Economists had forecast a rise of 5.6 percent.

On a monthly basis, the core CPI increased 0.8 percent in December.

The EU measure of harmonized index of consumer prices, or HICP, rose 7.4 percent annually and gained 0.3 percent from the prior month.

In 2021, inflation was 5.1 percent.

Separate data from the statistical office showed that the construction output rose 12.3 percent in November, after a 14.5 percent growth in October.

On a monthly basis, construction output rose 4.9 percent in November, following a 1.2 percent increase in the prior month.

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