Hungarian headline inflation rose to an annual 21.1 in October from 20.1% in September, boosted by surging food and energy prices, the Central Statistics Office (KSH) said on Wednesday.

It slightly exceeding expectations for a 21.0% increase. Core inflation, calculated with a revised methodology, jumped to 22.3% from 20.7% in September, also above analysts' 21.4% forecast in a Reuters survey. Prices increased by 2.0% from the previous month, the KSH said. As of April 2021, the KSH no longer includes alcohol and tobacco prices in its core inflation figure.

The National Bank of Hungary targets 3% headline inflation with a tolerance band of a percentage point on either side. Food prices rose by 40% year-on-year, with eggs and bread prices up 87.9% and 81.4% respectively. Household energy prices jumped by 64.4% after the government curtailed utility bill subsidies, while consumer durables prices increased by 14.9%. Services prices rose by 8.3%. INFLATION (% change) Oct 2022 Sept 2022 Oct 2021 Headline CPI m/m 2.0 4.1 1.1 Headline CPI y/y 21.1 20.1 6.5 Core CPI y/y 22.3 20.7 4.7 (Reporting by Krisztina Than)