CPI reaches 7.9% in January


Image by Shutterstock.com

Consumer prices were 7.9% higher on average in January 2022 than a year earlier, the highest rate recorded since August 2007, according to data released by the Central Statistical Office (KSH).

Compared to January 2021, food prices were up by 10.1%, within which the price of edible oil by 33.4%, that of flour by 31%, margarine prices by 21.2%, the prices of bread and poultry meat by 18% each, milk product prices by 17.2%, the price of milk by 16.9%, that of cheese by 15.8%, pasta product prices by 15.1%, the price of rolls by 14.9%, that of canteen meals by 11.3%, restaurant meals prices by 11.2% and the price of sugar by 11%.

Motor fuel prices became 22.5% and the price of household repair and maintenance goods 17.1% higher.

Alcoholic beverages and tobacco prices rose by 7.7% on average, within which tobacco prices by 10%.

Consumers paid 7.9% more for consumer durables, within which 15.7% more for kitchen and other furniture, 13.9% more for living and dining room furniture, 8.8% more for television sets and 8.2% more for second-hand passenger cars. 

Services charges were up by 5.2%, within which the repair and maintenance of dwellings cost 16.3% and the repair and maintenance of vehicles 10.7% more for consumers.

Consumer prices rise 1.4% compared to December

Compared to December 2021, consumer prices increased by 1.4% on average. Food became 3%, within which edible oil 8.6%, flour 7.9%, seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits altogether) 6.9%, coffee 6.5%, cheese 5.8%, poultry meat 5%, pasta products 4.4%, milk 3.6%, rolls 3.5%, and sugar 3.4% more expensive. 

Alcoholic beverages and tobacco prices were up by 1.2%, within which the price of alcoholic beverages by 2.3%. 

Consumer durables became 1%, within which second-hand passenger cars 1.6% and new ones 1.3% more expensive.

The price of motor fuels rose by 1.1%. Consumers paid 0.7% more for services, within which the charges for the repair and maintenance of dwellings increased by 3.3%, and motorway tolls and the charges for renting a car and parking by 2.8% – as an effect of a rise in motorway tolls. Clothing and footwear cost 1.7% less for consumers due to the end-of-season sale.


MNB Int'l Reserves Rise EUR 633 mln in November MNB

MNB Int'l Reserves Rise EUR 633 mln in November

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Number of Job Adverts up Minimally HR

Number of Job Adverts up Minimally

Tourism Nights Down 0.2% y.o.y. in October Tourism

Tourism Nights Down 0.2% y.o.y. in October


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.