Consumer Prices Index up in Oct

11 Nov '05

3 min read

Hungary Hungarian Central Statistical Office released the consumer prices for October 2005.

In October 2005 consumer prices have not changed compared to the previous month, and increased by 3.2 percent compared to October 2004. In the first ten months of 2005 the average increase of prices was 3.6 percent compared to the corresponding period of year 2004.

In October 2005 the core inflation was 1.4 percent, the constant tax rate index was 103.3% compared to October 2004. The Harmonized Consumer Price Index was 100.0% compared to the previous month and 103.1% compared to October 2004.

The CONSUMER PRICE INDEX (CPI) measures the change in average price level of goods and services purchased by private households. The index is calculated monthly and covers the whole country. At present there are approximately 900 items to be observed monthly in 35-150 outlets depending on their character. Altogether more than eighty-thousand prices are collected monthly.

The weights used for the compilation of the Consumer Price Index represent the ratio of goods and services within the final monetary consumption of households. The weights based on the data of the National Accounts (NA) completed with the data of Household Budget Survey (HBS) and other additional sources. The base period of the index calculation is December of the previous year.

In addition, every month the indices are calculated on the basis of the previous month and the same month of the previous year. All other (quarterly, yearly, etc.) indices are calculated as composite chain indices of the above mentioned monthly indices.

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