Hungary Inflation Rate at 21.5% in May


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Consumer prices in Hungary were 21.5% higher in May 2023 than a year earlier, according to data published 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, KSH says.

Compared to May 2022, a price rise of 33.5% was recorded for food, within which the highest ones for the following: 59.6% for other confectionery products, 52.7% for bread, 51.3% for milk products, 46.8% for butter, 46.1% for eggs, 37.4% for pasta products, 36.6% for rolls, 34.9% for milk and 33.7% for cheese. The lowest price increases within the product group were observed for flour (7.2%) and edible oil (3.5%). 

Electricity, gas and other fuels became 37.2%, within which natural and manufactured gas 49.1%, butane, and propane gas 47.2% and electricity 27.2% more expensive. 

Alcoholic beverages and tobacco prices were up by 19.3% on average, within which alcoholic beverage prices by 25.8%.

Consumers paid 8.1% more for consumer durables, within which 17% more for new passenger cars, 16.1% more for kitchen and other furniture, 14.5% more for heating and cooking appliances, and 12.1% more for living and dining room furniture.

Pet food prices became 51.7%, the price of detergents 37.1%, that of toilet articles 25.9%, and household repair and maintenance goods prices 16.4% higher. Motor fuels became 17.7% more expensive. 

Service charges rose by 14.3%, within which motorway use, renting a car and parking cost 28%, other public entertainment tickets 27.1%, recreation in the country 26.8%, the repair and maintenance of vehicles 23.1%, taxis 22.2%, and the repair and maintenance of dwellings 19.8% more for consumers.

Consumer Prices Down 0.4% Compared to April

Consumer prices decreased by 0.4% on average compared to April 2023

 Food prices rose by 0.1% on average. Within this, other meat preparations cost 0.9% and seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits altogether) 0.4% more, while cheese 2.3%, rice 1.7%, butter 1.3%, rolls 1.3%, milk 0.9% and poultry meat 0.6% less for consumers.

The price of electricity, gas and other fuels was reduced by 3%, within which 6.4% less was paid for natural and manufactured gas. Motor fuels became 6.6% cheaper.

The price of detergents became 1.0% and that of toilet articles 0.7% higher and pet food prices 2.6% lower. 

Services became 0.9% more expensive, within which 2% more was paid for recreation in the country, and the maintenance costs of private houses were up by 1.4% and rents by 1.2%, while 21.7% less was paid for travel to work or school.


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