BRUSSELS (dpa-AFX) - Hungary's consumer price inflation accelerated at a faster-than-expected pace in July, largely driven by higher costs for food and consumer durables, preliminary data from the Hungarian Central Statistical Office showed on Tuesday.
The consumer price index surged 13.7 percent year-over-year in July, following a 11.7 percent rise in June. That was also above the 13.1 percent increase expected by economists.
The upward trend in inflation was largely driven by a 27.0 percent jump in food prices. This was followed by a 14.0 percent rise in consumer durable goods.
Prices for alcoholic beverages and tobacco grew 11.2 percent and service charges were 6.8 percent more expensive in July compared to last year.
On a monthly basis, consumer prices moved up 2.3 percent in July, after a 1.5 percent rise in the prior month.
Core consumer prices climbed 16.7 percent annually in July versus an expected rise of 14.8 percent.
On a monthly basis, the core CPI increased 3.0 percent in July.
The EU measure of harmonized index of consumer prices, or HICP, gained 14.7 percent annually in July and rose 2.4 percent from the prior month.
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