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Hungary Inflation Steady At 5-1/2-year High In August

Hungary's inflation held steady in August at its highest level in five-and-a-half years, figures from the Hungarian Central Statistical Office showed Tuesday.

The consumer price index rose 3.4 percent year-on-year, same as in July. Economists had forecast 3.3 percent inflation.

Food prices rose 4.1 percent, the fastest pace in four months. Prices of alcoholic beverages and tobacco climbed 4.6 percent, which was the slowest since July last year.

Fuel and power prices rose 1.6 percent after a 1.5 percent increase in the previous month.

Clothing and footwear prices were unchanged, while prices of consumer durable goods dropped.

On a monthly basis, the CPI edged up 0.1 percent in August, in contrast to economists' expectatiosn for a 0.1 percent drop.

The latest increase was the smallest in five months. In July, prices rose 0.3 percent.

Core inflation, which excludes energy and fresh food, slowed to 2.2 percent from 2.4 percent. Prices rose 0.1 percent from the previous month.

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