The annualised consumer price index in Hungary reached 4.0% (chart) in May, edging up from 3.7% in the previous month, in line with estimates, the Central Statistics Office (KSH) said on June 10. Compared to the previous month, prices fell by 0.1%. Headline CPI reached the 3.0% +/-1pp tolerance band of the National Bank (MNB) in January after peaking at 25.7% a year earlier, supported by government measures and central bank monetary policy. Core inflation excluding indirect tax effects, a bellwether indicator of underlying inflation, fell to 4.0% in May from 4.1% in the previous month. In a mo…