Inflation in Hungary highest since 1999

Figures

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Consumer prices in Hungary were 10.7% higher on average in May 2022 than a year earlier, according to data published by the Central Statistical Office (KSH). The last time inflation was this high was in 1999.

Compared to May 2021, a price rise of 18.6% was recorded for food, within which 41.4% for margarine, 37.5% for bread, 35.4% for cheese, 34.3% for poultry meat, 33.3% for pasta products, 30.3% for milk products, 29.9% for eggs, 27.3% for rolls, 12.8% for seasonal food items (potatoes, fresh vegetables, and fresh domestic and tropical fruits altogether), 10% for non-alcoholic beverages and 3.9% for chocolate and cocoa as well as sugar. 

Alcoholic beverage and tobacco prices rose by 6.4% on average, within which alcoholic beverage prices by 8.1%.

Consumers paid 11.4% more for consumer durables, within which 18.4% more for kitchen and other furniture, 18.3% more for living and dining room furniture, 15.4% more for second-hand passenger cars, and 10.6% more for new passenger cars.

The price of household repair and maintenance goods became 28.3%, pet food prices 22.3%, and motor fuel prices 10.8% higher. Service charges were up by 6.8%, within which the repair and maintenance of dwellings cost 20.1% and the repair and maintenance of vehicles 14.4% more for consumers.

Consumer prices up 1.7% compared to April

Compared to April 2022, consumer prices went up by 1.7% in May 2022.

Food became 3.5% more expensive, within which aggregate group higher prices were recorded for all product groups apart from the group of fresh vegetables: butter became 9%, salami, sausages and ham 8.2%, milk products 7%, pasta products 6.7%, cheese 6.3%, rolls 6%, bread 5.8%, other meat preparations 5.4% and poultry meat 5.2% more expensive.

A price increase of 1.3% was measured for alcoholic beverages and tobacco, 1.1% for clothing and footwear and 0.9% for consumer durables, within which latter living and dining room furniture became 2.5%, kitchen and other furniture 1.3% and second-hand passenger cars 1% more expensive.

The price of household repair and maintenance goods rose by 3.5%. Consumers paid 0.7% more for services, within which 11.9% more for a taxi, 2.9% more for recreation in the country, and 1.3% more for the repair and maintenance of dwellings as well as for other public entertainment.

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