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Consumer prices up 3.9% y.o.y. in August

In Hungary, consumer prices were 3.9% higher on average in August 2020 than a year earlier, with significant price rises measured over the past year for food as well as alcoholic beverages and tobacco, according to data by the Central Statistical Office (KSH).

Food prices went up by 7.9%, within which the price of other meat preparations became 18.1%, that of seasonal food items 17.1%, sugar prices 13.4%, the price of salami, sausages and ham 11.4%, that of eggs 10.2% and milk prices 8.9% higher.

Alcoholic beverages and tobacco became an average 6.8%, within which tobacco 10.3% more expensive.

Motor fuel prices were cut by 4.7%.

Prices unchanged compared to July

Consumer prices as a whole were unchanged on average. Food prices became 0.3% lower, dominantly due to the 4.4% decrease in the price of seasonal food items. Food prices excluding this latter group were up by 0.2% on average.

Within non-seasonal food items, both milk and salami, sausages and ham became 1.0%, eggs 0.8% and bread 0.5% more expensive, while pork 1.9%, cheese 1.2% and poultry meat 0.5% cheaper.

Alcoholic beverages and tobacco prices increased by 0.7% on average, within which tobacco prices by 0.9%.

Clothing and footwear became 1.9% cheaper due to the summer sale.

The price of motor fuels was reduced by 0.8%. Services became 0.4% more expensive, partly as a result of the 2.2% rise in recreational services prices.

In the first eight months of 2020, consumer prices increased by 3.5% on average.