The Hungarian Central Statistical Office reported on Thursday that Hungary's consumer price inflation in September reached its lowest point in over three and a half years.
The year-on-year increase in consumer prices was 3.0% in September, a decrease from the 3.4% recorded in August. This reduction was slightly better than the 3.1% forecasted by economists.
September's inflation figures mark the most modest rate since January 2021, when prices rose by 2.7%.
The inflation rate has now aligned with the central bank's target of 3.0%.
Despite this, core inflation experienced an uptick, rising to 4.8% from the previous month's 4.6%.
Annual price growth in clothing decelerated to 3.3% from 4.5%, and there was a significant 5.0% reduction in utility costs, attributed to lower prices for natural and manufactured gas, as well as electricity. However, food price inflation increased to 3.7% from 2.4%.
In a month-on-month comparison, consumer prices decreased by 0.1% in September, following a flat change in the previous month.
