Hungary Inflation at 24% in April


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Consumer prices in Hungary were 24% higher on average in April 2023 than a year earlier, according to data released by the Central Statistical Office (KSH).

The highest price rises were measured for electricity, gas, and other fuels as well as food over the last 12 months.

A price rise of 37.9% year-on-year was recorded for food, within which the highest ones for the following: 63.5% for milk products, 62.1% for butter, 61.9% for other confectionery products, 61.6% for bread, 51% for eggs, 47.6% for pasta products, 46.7% for rolls, 45.4% for cheese and 43.2% for milk.

The lowest price increases within the product group were observed for flour (8.8%) and edible oil (3.4%). Electricity, gas, and other fuels became 41.8%, within which natural and manufactured gas 59.4%, firewood 54.4%, butane and propane gas 46.9%, and electricity 27.3% more expensive. 

Alcoholic beverage and tobacco prices were up by 20.5% on average, within which alcoholic beverage prices by 27.5%. Consumers paid 9.3% more for consumer durables, within which 18% more for new passenger cars, 16.1% more for kitchen and other furniture, 15.7% more for heating and cooking appliances and 15.2% more for living and dining room furniture.

Pet food prices became 59.1%, the price of detergents 39.8%, that of toilet articles 28.3%, and household repair and maintenance goods prices 20.7% higher. Motor fuels became 26% more expensive. 

Service charges rose by 14.1%, within which a taxi cost 36.2%, recreation in the country 28%, other public entertainment tickets 27.9%, motorway use, renting a car, and parking 27.6%, the repair and maintenance of vehicles 23.4% and the repair and maintenance of dwellings 20% more for consumers.

Consumer Prices up 0.7% Compared to March

Consumer prices increased by 0.7% on average compared to March. Food prices were unchanged on average. Within this, chocolate and cocoa cost 3.5%, non-alcoholic beverages, and meals at restaurants both 1.4% and coffee 1.2% more, while cheese 4.1%, milk 2.7%, milk products 2%, pasta products 1.4%, bread 1.3%, butter 1% and other meat preparations 0.9% less for consumers.

The price of electricity, gas, and other fuels was cut by 0.8%, within which consumers paid 2.1% less for natural and manufactured gas. Motor fuels became 0.7% cheaper.

The price of detergents was up by 4.7%, that of toilet articles by 2.8%, and pet food prices by 1.6%. Services became 1.7%, within which recreation in the country was 4.9% more expensive.

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