BUDAPEST, March 10 (Xinhua) -- Hungary's consumer price index (CPI) rose by 1.4 percent year-on-year in February, down from 2.1 percent in the previous month, according to the Hungarian Central Statistical Office (KSH) on Tuesday.
Consumer prices edged up 0.1 percent monthly, the KSH said.
The data showed a mixed trend across sectors. Service prices rose 4.2 percent compared with a year earlier, while alcoholic beverages and tobacco products increased 5.8 percent. Prices for electricity, gas and other fuels also climbed 4.2 percent.
In contrast, motor fuel prices declined sharply of 11.1 percent compared to the same period last year. Food prices remained relatively stable with a marginal 0.2 percent increase, though specific items such as flour, milk, and butter became significantly cheaper.
Core inflation, which excludes volatile energy and food prices, stood at 2.1 percent year-on-year.
Following the data release, Hungary's Ministry for National Economy said in a statement that the government would continue measures aimed at protecting households from rising prices.
Portfolio's analysts noted that the 1.4 percent figure came in below the 1.7 percent consensus forecast, while strong base effects from last year's price increases and a relatively stable local currency contributed to the slowdown.
However, economists warned that fluctuations in global energy markets remain a potential risk to the country's inflation outlook in the coming months.
Amid the escalating tensions in the Middle East following U.S. and Israeli strikes against Iran, Brent crude, the international benchmark, briefly climbed to around 119 U.S. dollars per barrel on Monday, its highest level since mid-2022, before retreating below the 100-dollar mark later in the session.
European natural gas prices also jumped sharply, with Dutch TTF natural gas futures for April delivery rising 11.59 percent to 59.57 euros (69.31 U.S. dollars) per megawatt-hour, an increase of 86.4 percent from 31.96 euros (37.19 dollars) on Feb. 27. ■