Hungary annual inflation hits fresh over 24-year high in August

By Tuba Sahin

ANKARA (AA) - Hungary's annual consumer inflation rate hit over a 24-year high in August, according to official data released on Thursday.

Consumer prices surged 15.6% year-on-year in August, the largest rise since May 1998. The figure was up from 13.7% in July, the country's statistical authority said.

Food prices soared 30.9%, driven by margarine, bread, cheese, pasta products, and milk products.

Consumers paid 14.8% more for consumer durables and 13.1% more for alcoholic beverages and tobacco. Service charges jumped 7.7%, within which a taxi cost 27.3% and the repair and maintenance of dwellings cost 21.7%.

On a monthly basis, Hungary's consumer prices index rose 1.8%.