Hungary Inflation Rises To 4.0%, Highest In 5 Months

(RTTNews) - Hungary's inflation increased for the second straight month in May to the highest level in five months, the Hungarian Central Statistical Office said on Monday.

Consumer prices climbed 4.0 percent year-on-year in May, faster than the 3.7 percent rise in April. Economists had expected inflation to rise to 4.2 percent.

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

Meanwhile, core inflation softened marginally to a 32-month low of 4.0 percent from 4.1 percent a month ago.

Food prices grew at a stable rate of 1.0 percent annually in May, and prices of goods in total increased at a faster pace of 2.0 percent.

Costs for clothing and footwear were 4.7 percent higher, while utility costs continued to decline by 2.4 percent.

On a monthly comparison, consumer prices dropped 0.1 percent versus a 0.7 percent increase in the prior month.