Hungary’s consumer price inflation accelerated at a faster-than-expected pace in July to the highest level in five-and-a-half years, figures from the Hungarian Central Statistical Office showed Wednesday.
Consumer prices climbed 3.4 percent year-over-year in July, faster than the 3.1 percent rise in June. Economists had expected the inflation to accelerate to 3.3 percent.
Moreover, this was the highest inflation since the start of 2013.
Food prices grew 3.6 percent annually in July and costs for electricity, gas and other fuels rose by 1.5 percent.
On a monthly basis, consumer prices increased at a stable rate of 0.3 percent in July.