Inflation in Hungary Reaches 24.5% in December 2022

Figures

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Consumer prices in Hungary were 24.5% higher on average in December 2022 than a year earlier, according to data published by the Central Statistical Office (KSH).

A price rise of 44.8% was recorded for food, within which the highest price increases for the following: 83.2% for cheese, 82.7% for eggs, 81.1% for bread, 79.4% for butter, 79.2% for milk products, 71% for other confectionary products, 70.8% for pasta products, 58.0% for margarine, 57.2% for rolls, 52.1% for milk and 51.5% for poultry meat.

The lowest price rises within the product group were observed for flour (6.7%) and edible oil (1.5%). 

Electricity, gas, and other fuels became 55.5% more expensive. Within this, natural and manufactured gas prices went up by 97.8%, the price of firewood by 58.6%, that of butane and propane gas by 48.7%, and electricity prices by 27.8%.

Consumers paid 13.6% more for consumer durables, within which 24.1% more for new passenger cars, 20.8% more for heating and cooking appliances, 20.3% more for kitchen and other furniture, and 18.7% more for living and dining room furniture. 

Alcoholic beverage and tobacco prices rose by 13.4% on average, within which alcoholic beverage prices by 21.3%. Pet food prices became 48.8%, the price of detergents 34.2%, that of household repair and maintenance goods 30.8%, and toilet article prices 28.5% higher.

Consumers paid 27% more for motor fuels. 

Service charges were up by 9.5%, within which a taxi cost 30%, the repair and maintenance of dwellings 24.3%, the repair and maintenance of vehicles 22.6%, other public entertainment tickets 22.0%, recreation in the country 20.9% and personal care services 17.9% more for consumers.

Consumer Prices up 1.9% Compared to November

Compared to November, consumer prices increased by 1.9% on average. Food became 2.1% more expensive, within which milk cost 7.2%, milk products and butter both 6.2%, cheese 4.9% and buffet products 4% more for consumers. There was a decrease of 7.9% in the price of eggs, entering the group of products covered by a regulated price cap, and of 1.6% in margarine prices.

The price of electricity, gas and other fuels lessened by 6%, within which consumers paid 11.8% less for natural and manufactured gas.

Detergents cost 2.5%, pet food 1.5% and household repair and maintenance goods 1.2% more for consumers.

Motor fuels became 24.4% more expensive owing to the termination of the regulated price cap on this product group. 

Service prices increased by 0.8% on average, within which recreation in the country became 5.4%, other public entertainment tickets 2.2%, and personal care services 1.0% more expensive.

Inflation in 2022 as a Whole Hits 14.5%

In 2022, consumer prices increased by 14.5% on average compared to 2021, within which the highest price rise of 26% was measured for food. 

A price rise of 21.7% was recorded for electricity, gas and other fuels, 12.2% for consumer durables, 12% for other goods, 9.9% for alcoholic beverages and tobacco, 7.1% for services, and 5.5% for clothing and footwear. 

Consumer prices went up by 15.2% on average among pensioner households.

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