Hungary Inflation Falls to 7.9% in November


Photo by noppawan09/

Consumer prices in Hungary were 7.9% higher on average in November 2023 than a year earlier, according to data published by the Central Statistical Office (KSH).

A year-on-year price rise of 7.1% was recorded for food, within which the highest ones for the following: 49.7% for sugar, 19.1% for chocolate and cocoa, 17.9% for non-alcoholic beverages and 17% for buffet products. Within the product group, egg prices decreased by 24.4%, the price of flour by 15.8%, that of cheese by 10.4%, butter prices by 9.9% and the price of pasta products by 7.4%. 

Electricity, gas and other fuels became 18.1% cheaper, within which 36.2% less had to be paid for natural and manufactured gas and 3.5% less for electricity and 0.8% more for firewood and 1.9% more for butane and propane gas. Motor fuel prices went up by 25.4%. Services became 12.6% more expensive, within which motorway use, renting a car and parking cost 20.7%, recreational services 15.8%, other public entertainment tickets 14.1% and the repair and maintenance of vehicles 13.8% more and travel to work or school 21.7% less for consumers. 

Alcoholic beverages and tobacco prices were up by 10.6%, within which the price of alcoholic beverages by 12.1%. Pet food prices became 24.3%, the price of detergents 15.2%, that of toiletries 7.7% and dwelling repair and maintenance goods prices 3.3% higher. Consumers paid 0.4% less for consumer durables, within which the price of second-hand passenger cars was cut by 9.5% and kitchen and other furniture prices increased by 9.4%, the price of heating and cooking appliances by 4.3%, that of living and dining room furniture by 3.7% and new passenger car prices by 3.3%.

Prices Stagnate Compared to October

Compared to October 2023, consumer prices remained unchanged. Food became 0.5% more expensive on average, dominantly owing to a 6.6% rise in the price of seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits). Food prices excluding this group were unchanged on average. Poultry meat cost 2.0%, edible oil 1.9%, butter 1.6% and sugar 0.8% less for consumers.

Motor fuel prices were reduced by 3.6%. Clothing and footwear became 1.2% more expensive. Consumers paid 1.2% less for electricity, gas and other fuels, within which 2.5% less for natural and manufactured gas and 0.6% less for firewood.

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