Hungary Inflation Eases To 1.4%, Lowest Since November 2016

(RTTNews) - Hungary's consumer price inflation moderated in February to the lowest level in more than nine years, the Hungarian Central Statistical Office said on Tuesday.

Consumer prices climbed 1.4 percent year-on-year in February, slower than the 2.1 percent rise in January. Economists had expected inflation to ease to 1.7 percent.

Moreover, this was the weakest inflation rate since November 2016, when prices rose only 1.1 percent.

Among main consumption groups, food inflation eased to 0.2 percent from 1.3 percent, and the annual price growth in clothing and footwear slowed to 0.7 percent from 1.6 percent. Services inflation also softened to 1.4 percent from 2.1 percent.

Excluding food and energy, core inflation eased to 2.1 percent from 2.7 percent.

On a monthly basis, consumer prices edged up 0.1 percent in February after rising 0.3 percent in the prior month.