Hungary Inflation Eases Unexpectedly To 3.7%

(RTTNews) - Hungary's inflation moderated unexpectedly in June after rising in the previous two months, the Hungarian Central Statistical Office said on Tuesday.

Consumer prices climbed 3.7 percent year-on-year in June, slower than the 5-month high of 4.0 percent in May. Meanwhile, economists had expected inflation to remain stable at 4.0 percent.

Nonetheless, inflation remained above the central bank's target of 3.0 percent.

At the same time, core inflation rose marginally to 4.1 percent from a 32-month low of 4.0 percent a month ago.

Costs for clothing and footwear were 4.1 percent higher, though slower than the 4.7 percent rise in May.

The data showed that utility costs continued to fall by 2.7 percent. Meanwhile, food price inflation accelerated somewhat to 1.1 percent from 1.0 percent.

On a monthly comparison, consumer prices remained flat in June versus a 0.1 percent drop in the prior month.