The pace of annual inflation continued to slow from recent highs, while prices inched up just 0.1% on average from May.
The data reflect a continued easing of inflationary pressure in the Central European country, even as several product categories still show significant year-over-year price increases.
Food prices were 6.2% higher than in June 2024, or 4.9% excluding food and beverage serving services. Among the sharpest increases were eggs, up 26%; flour, 24.4%; edible oil, 22.2%; and coffee, 20.3%. Prices for chocolate and cocoa jumped 19.6%, while fruit and vegetable juices rose 14.1%.
Other notable gains included buffet products, up 10.4%, rolls up 8.1%, milk up 7.3%, and non-alcoholic beverages up 7.1%. Some items, however, became cheaper. Margarine prices plunged 31.2%, dairy products declined 7.2%, other processed meats were down 6.9%, and pork fell 2.0%.
The cost of electricity, gas and other fuels climbed 8.6% year over year, with natural and manufactured gas surging 18.4% and butane and propane gas rising 5.8%. Alcohol and tobacco products increased by 6.3%, driven by a 7.0% rise in tobacco prices.
Service prices rose 5.4% overall. Postal services saw an 11.3% increase, personal care services 10.1%, home repair and maintenance 9.8%, and vehicle repair 9.6%. Rent was up 9.4%, and recreational services rose 7.8%.
Among consumer durables, prices increased by 2.6%, including a 23.8% jump for jewelry, 4.6% for living and dining room furniture, 3.7% for new passenger cars, and 1.0% for used vehicles. Motor fuel prices fell 1.0%, while pharmaceutical products cost 5.5% more than a year earlier.
On a monthly basis, price changes were more subdued. Overall consumer prices edged up 0.1% from May.
Food prices rose 0.1%, though declined 0.2% excluding restaurant and catering services. Edible oil fell 2.4%, eggs dropped 1.8%, and margarine and non-alcoholic drinks both declined 1.2%. Chocolate and cocoa were 1.0% cheaper, while other processed meats and bread saw a 0.7% decrease. Cheese prices dropped 0.6%.
At the same time, rolls were 1.4% more expensive, poultry rose 1.1%, cured meats climbed 0.9%, pasta products went up 0.7%, and buffet items increased 0.6%.
Energy prices increased 0.7% from the previous month. Natural and manufactured gas prices rose 1.4%, while butane and propane gas fell 0.5%.
Services were 0.6% more expensive than in May, led by a 3.7% jump in recreational services, 2.3% in other public entertainment, and 1.1% in local transportation excluding taxis.
Motor fuel prices rose 0.5% month over month, while pharmaceutical products saw a 0.2% increase.
The latest data come as Hungary’s central bank continues to monitor price trends following an extended period of high inflation driven by energy costs, food prices and supply chain disruptions.
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