Hungary Inflation Eases To 1-year Low

(RTTNews) - Hungary's consumer price inflation moderated in November to the lowest level in one year, the Hungarian Central Statistical Office said on Tuesday.

Consumer prices climbed 3.8 percent year-on-year in November, though slower than the 4.3 percent stable rise in October. Economists had expected inflation to fall to 4.0 percent.

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

Data showed that core inflation softened slightly to 4.1 percent from 4.2 percent a month ago.

The annual price growth in food products slowed to 3.2 percent from 3.9 percent, and inflation based on utilities eased to 9.8 percent from 10.7 percent. Service costs were 6.5 percent higher, albeit the rate of decline eased from 6.7 percent seen in the prior month.

On a monthly comparison, consumer prices edged up 0.1 in November after remaining flat in October.