Hungary’s annual inflation rate slowed slightly to 24% in April from 25.2% in March, while analysts had expected inflation of 24.2% last month, DPA and Agerpres reported.

This is the lowest level in the last five months, after Hungary was the EU member state with the highest inflation rate in March.

Core inflation, which strips out prices of volatile goods such as energy and food, fell to 24.8% year-on-year in April from 25.7% in March, while analysts had expected core inflation to last month at 25. 1%

Food inflation also eased to 37.9% from 42.6% in March, while annual growth in electricity, gas and other fuel prices slowed to 41.8% from 43.1%.

On a monthly basis, inflation in Hungary slowed slightly to 0.7% in April from 0.8% in March.

The European Commission forecasts that inflation in Hungary will reach 16.4% this year, the highest in the EU, while the government in Budapest aims to reduce inflation below 10% by December.