Hungary Inflation Rate at 21.5% in May

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.