Hungary Inflation Still Above 20% in June

Figures

Image by Shutterstock.com

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%.

ADVERTISEMENT

Varga: Gov't Respects MNB's Independence MNB

Varga: Gov't Respects MNB's Independence

Hungary Makes Proposals to Ease Administrative Burden for EU... EU

Hungary Makes Proposals to Ease Administrative Burden for EU...

Money Motion 2024: The Future of FinTech Unfolds in Zagreb Fintech

Money Motion 2024: The Future of FinTech Unfolds in Zagreb

Investors of the Year in Limelight at Hipa’s Award Ceremony Awards

Investors of the Year in Limelight at Hipa’s Award Ceremony

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.