Inflation in Hungary at 25.4% in February


Photo by noppawan09/

Consumer prices were 25.4% higher on average in February 2023 than a year earlier, according to data published by the Central Statistical Office (KSH).

A year-on-year price rise of 43.3% was recorded for food, within which the highest price increases were measured for the following: 79.2% for eggs, 76.2% for milk products, 75.1% for butter, 72.1% for cheese, 71.1% for bread, 68.6% for other confectionery products, 57.3% for pasta products, 53.7% for milk and 51.9% for rolls.

The lowest price rises within the product group were observed for flour (9.8%) and edible oil (3.4%). Electricity, gas and other fuels became 49% more expensive. Within this, natural and manufactured gas prices went up by 78.4%, the price of firewood by 59.5%, that of butane and propane gas by 52%, and electricity prices by 27.6%.

Consumers paid 12.6% more for consumer durables, within which 23.9% more for new passenger cars, 20.2% more for heating and cooking appliances, 19.6% more for kitchen and other furniture, and 17.8% more for living and dining room furniture. 

Alcoholic beverage and tobacco prices rose by 18.8% on average, within which alcoholic beverage prices by 25.6%. Pet food prices became 55.5%, the price of detergents 33.4%, that of household repair and maintenance goods 28.5% and toiletry prices 28.2% higher.

Motor fuels became 30.3% more expensive. Service charges were up by 11.6%, within which a taxi cost 33.2%, motorway use, renting a car and parking 27.7%, other public entertainment tickets 27.1%, the repair and maintenance of vehicles 24.7%, the recreation in the country 23.8% and the repair and maintenance of dwellings 22% more for consumers.

Prices up 0.8% Compared to January 2023

Compared to the previous month, consumer prices in Hungary were 0.8% higher in February 2023.

Food became 1.7% more expensive, within which seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits) cost 6.4%, coffee 6.1%, fruit, and vegetable juices 3%, non-alcoholic beverages 2.9%, meals at canteens 2.2%, meals at restaurants 1.9%, bread 1.3% and chocolate and cocoa 1.2% more for consumers.  Margarine became 2.2%, pork 0.6%, and poultry meat 0.5% cheaper.

The price of electricity, gas, and other fuels was cut by 2%, within which consumers paid 5.4% less for natural and manufactured gas. Motor fuel prices lessened by 3.6%. Pet food cost 7.0%, flowers and ornamental plants 4.9% and bed and table linen 3% more for consumers. 

Service prices increased by 1% on average, within which the repair and maintenance of vehicles became 2.5%, other public entertainment tickets 2.3%, recreation in the country 1.9%, and personal care services 1.6% more expensive.

Value of Bank Card Payments Climbs 8% in Q1 Banking

Value of Bank Card Payments Climbs 8% in Q1

Karácsony Submits Motion for Budapest Mayoral Election Repea... Elections

Karácsony Submits Motion for Budapest Mayoral Election Repea...

OMV Network to Get New, Modern Look in CEE Retail

OMV Network to Get New, Modern Look in CEE

Sziget Festival Returning With a Bang in 2024 In Budapest

Sziget Festival Returning With a Bang in 2024


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.