Hungary Inflation Still Above 20% in June


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Consumer prices in Hungary were 20.1% higher on average in June 2023 than a year earlier, according to data published by the Central Statistical Office (KSH).


Compared to June 2022, a price rise of 29.3% was recorded for food, within which the highest ones for the following: 53.0% for other confectionery products, 48.6% for bread, 41.4% for milk products, 40.1% for eggs, 35.6% for butter, 33.3% for rolls, 30.4% for pasta products, 26.7% for milk and 23.3% for cheese. The lowest price increases within the product group were observed for flour (5.8%) and edible oil (3.1%).

Electricity, gas, and other fuels became 34.3%, within which natural and manufactured gas 43.%, butane and propane gas 44.6% and electricity 26.6% more expensive. 

Alcoholic beverage and tobacco prices were up by 18.7% on average, within which alcoholic beverage prices by 24.4%. Consumers paid 6.1% more for consumer durables, within which they gave out some 14.6% more for kitchen and other furniture, 14.5% more for new passenger cars, 13.9% more for heating and cooking appliances, and 9.5% more for living and dining room furniture.

Pet food prices became 47.6%, the price of detergents 36.9%, that of toilet articles 24.1%, and household repair and maintenance goods prices 11.5% higher.

Motor fuels became 20.2% more expensive. Service charges rose by 14.4%, within which motorway use, renting a car and parking cost 27%, other public entertainment tickets 26.1%, the repair and maintenance of vehicles 22.1%, recreational services 21%, the repair and maintenance of dwellings 18.5% and a taxi 18.2% more for consumers.

Consumer Prices up 0.3% in a Month

Consumer prices were up by 0.3% on average compared to May 2023. 

Food prices decreased by 0.4% on average. Within this, seasonal food items (potatoes, fresh vegetables, and fresh domestic and tropical fruits altogether) cost 3.2%, butter 2.8%, milk 2.7%, cheese 2.3%, and pasta products 1.6% less for consumers. Chocolate and cocoa became 1.9% and pork 0.8% more expensive. 

Electricity, gas, and other fuel prices were reduced by 2.1%, within which 4.1% less was paid for natural and manufactured gas. Motor fuel prices rose by 2.2%. The price of detergents became 2.4%, that of toilet articles 0.6% and pet food prices 1.1% higher.

Services became 0.9% more expensive, within which 6.6% more was paid for recreational services, and the maintenance costs of private houses went up by 1.5% and rents by 0.8%.


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