Almost 7% inflation in the first HY

In June 2008 consumer prices rose by 0.1% compared to the previous month and increased by 6.7% compared to June 2007.

 In June 2008 compared to the previous
month food prices decreased by 0.4%. Price decrease (9.9%) was
measured in case of seasonal food items (potatoes, fresh vegetables
and fruits), cheese (1.6%), egg (1.0%) as well as milk (0.9%). Price
increase was measured in case of pork (9.6%), edible oil (3.2%) as
well as poultry meat (2.5%). Food prices excluding seasonal food
items were 1.0% higher than in the previous month. In case of other
goods prices rose to the highest extent (0.8%), while price rise of
motor fuels was 2.2%. The price rise of alcoholic beverages and
tobacco (0.3%) and services (0.2%) was higher than the average.
Within services consumers paid 4.2% more for recreational services.
In case of electricity, gas and other fuels prices rose in line with
the average. Prices of clothing and footwear and consumer durable
goods decreased by 0.3% and 0.2% compared to May 2008.

In June 2008 compared to June 2007 food
prices rose by 12.3%, a higher-than-average rate. In this category a
substantial price increase was observed in case of edible oil
(77.3%), flour (45.8%), pasta products (24.0%), pork (23.2%), milk
(21.3%), egg (20.6%), poultry meat (20.0%), cheese (19.0%) as well as
bread (18.6%). In case of electricity, gas and other fuels prices
increased by 10.9%, at a rate higher than the average, while piped
gas rose by 17.5%. The price rise of other goods was lower than the
average (6.5%), comprising a 15.6% price rise of motor fuels and a
2.1% of pharmaceutical products.

The price rise of alcoholic beverages
and tobacco (5.6%) and services (4.7%) was lower than the average too. In case of clothing and
footwear (0.5%) prices rose to lower extent. Prices of consumer
durable goods decreased by 0.2% compared to June 2007.

In the 27 member states of EU the
annual inflation was 3.9% in May 2008 compared to May 2007. The
lowest annual rates were observed in the Netherlands (2.1%) and
Portugal (2.8%), and the highest in Latvia (17.7%) and Bulgaria
(14.0%). The price rise in Hungary was 6.9% higher than the average
of EU.