Inflation in Hungary Surpasses 20%

Figures

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Hungarian consumer prices were 20.1% higher on average in September 2022 than a year earlier, according to data released by the Central Statistical Office (KSH).

A price rise of 35.2% was recorded for food, within which the highest price increases for the following: 76.2% for bread, 68% for cheese, 66.3% for both milk products and butter, 61.2% for margarine, 60.2% for pasta products, 53.7% for eggs.  The price rise of pork (22.4%), chocolate and cocoa (19.1%), sugar (10.9%) and edible oil (5%) was at a rate below the average.

Due to the changes in regulation on household utility prices effective from August 1, the price of electricity, gas, and other fuels went up by 62.1%. Within that natural and manufactured gas cost 121%, electricity 28.9% more. The price of butane and propane gas increased by 45% and that of firewood by 43.8%.

Consumers paid 14.7% more for consumer durables, within which 21.2% more for kitchen and other furniture, 20.1% more for living and dining room furniture, 19.9% more for new passenger cars. 

Alcoholic beverage and tobacco prices rose by 13.2% on average, within which alcoholic beverage prices by 16.5%.

The price of pet food became 45.5%, household repair and maintenance goods’ prices 27.7%, detergents’ prices 24.8%, the price of toilet articles 24.5%, and motor fuel prices 5.8% higher. 

Service charges were up by 8.2%, within which a taxi cost 28.5%, the repair and maintenance of dwellings 22.8%, the repair and maintenance of vehicles 20.5%, other public entertainment 16.6%, and rents 12.6% more for consumers.

Consumer Prices Rose 4.1% in a Month

Consumer prices increased by 4.1% on average compared to August 2022.

Food became 3.5% more expensive, within which meals at school cost 13.5%, eggs 9.8%, butter 8.3%, both bread and milk products 7.6%, milk 5.2%, seasonal items (potatoes, fresh vegetables, and fresh domestic and tropical fruit) 4.7% more, and chocolate and cocoa 0.5% less for consumers.

The price of electricity, gas, and other fuels went up by 59.2%. In this group, natural and manufactured gas cost 121%, firewood 32.7%, electricity 28.9%, butane and propane gas 14% more.

Toiletries became 4.4%, detergents 3.8% more expensive. Services’ prices decreased by 0.1%, and the 3.2% increase in other public entertainment prices and the 2.7% increase in price of personal care services were offset by the price decrease of 13.6% in recreational services due to seasonal effects.

In January-September 2022, consumer prices were up by 11.8% for all households on average and by 11.9% among pensioner households compared to the same period of 2021.

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