Inflation Falls to 9.9% in October


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Consumer prices in Hungary went up by 9.9% on average in October 2023 compared to the same month of the previous year.

Compared to October 2022, a price rise of 10.4% was recorded for food, within which the highest ones for the following: 54.4% for sugar, 23.8% for chocolate and cocoa, and 23.8% for non-alcoholic beverages and 22% for buffet products. Within the product group, egg prices decreased by 16.9%, the price of flour by 15.4%, that of cheese by 6.4% and margarine prices by 4.2%. 

Electricity, gas and other fuels became 16.1% cheaper, within which 33.5% less had to be paid for natural and manufactured gas and 3.4% less for electricity and 5.4% more for firewood and 4.7% more for butane and propane gas. Motor fuel prices went up by 30.2%. 

Services became 13.2% more expensive, within which motorway use, renting a car and parking cost 21.3%, recreational services 17.8%, the repair and maintenance of vehicles 16.3% and other public entertainment tickets 14.7% more and travel to work or school 21.7% less for consumers. 

Alcoholic beverages and tobacco prices were up by 11.6%, within which the price of alcoholic beverages by 13.7%. Consumers paid 0.7% more for consumer durables, within which 10.4% more for kitchen and other furniture, 5.9% more for heating and cooking appliances, 4.7% more for new passenger cars and 4.4% more for living and dining room furniture, and 9.1% less for second-hand passenger cars. Pet food prices became 29.3%, the price of detergents 20.0%, that of toilet articles 9.9% and dwelling repair and maintenance goods prices 4.3% higher.

Consumer Prices Almost Unchanged Compared to September

Compared to September 2023, consumer prices decreased by 0.1% on average. Food prices lessened by 0.1% on average, within which margarine cost 2.5%, cheese 1.2%, sugar 1.1% and flour 1% less and chocolate and cocoa 2.2% and non-alcoholic beverages 0.7% more for consumers. Motor fuel prices were cut by 3.8%. Clothing and footwear became 3.2% more expensive owing to seasonal changes. Consumers paid 0.3% less for electricity, gas and other fuels, within which firewood prices went down by 1.2% and the price of natural and manufactured gas was unchanged.

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