Inflation Rate in Hungary Hits 21.1% in October

The 21.1% inflation rate is the highest measured in Hungary since the mid-1990s.

A price rise of 40% was recorded for food, within which the highest price increases for the following: 87.9% for eggs, 81.4% for bread, 75.4% for milk products, 74.7% for cheese, 71.6% for butter, 58.6% for pasta products, 58.% for margarine, 54.7% for rolls and 53.4% for other confectionery products.

The lowest price rises within the product group were observed for sugar (11.8%) and edible oil (4.4%). Electricity, gas and other fuels became 64.4% more expensive. Within this, natural and manufactured gas prices went up by 121%, the price of firewood by 57.7%, that of butane and propane gas by 51.1%, and electricity prices by 28.6%.

Consumers paid 14.9% more for consumer durables, within which 22.5% more for new passenger cars, 19.7% more for kitchen and other furniture, and 19.1% more for living and dining room furniture. Alcoholic beverage and tobacco prices rose by 12.8% on average, within which alcoholic beverage prices by 17.7%.

Pet food prices became 46.9%, the price of household repair and maintenance goods 29.4%, that of household paper and other products 29.0%, detergent prices 27.3% and the price of toilet articles 26% higher. 

Service charges were up by 8.3%, within which a taxi cost 27.4%, the repair, and maintenance of dwellings 23.8%, the repair and maintenance of vehicles 21.3% and other public entertainment tickets 19.4% more for consumers and rents grew by 13.1%.

Consumer Prices up 2% Compared to September

Hungarian consumer prices in October 2022 were 2% higher than in October.. Food became 4.3% more expensive, within which eggs cost 24.1%, other confectionery products 9.8%, milk products 6.5%, seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits) and cheese both 6.2%, bread 6.1%, butter 5.6% and rolls 5.8% more for consumers.

The price of electricity, gas, and other fuels went up by 1.6%, within which firewood became 11.3% and butane and propane gas 4.2% more expensive.

Household paper and other products cost 5.1%, detergents 3.6%, pet food 3.4% and toilet articles 3.2% more for consumers. 

Service prices increased by 0.5% on average, within which other public entertainment tickets and personal care services both became 2.0% and the repair and maintenance of dwellings 1.7% more expensive.

In January-October 2022, consumer prices rose by 12.7% for all households on average and by 13% among pensioner households compared to the same period of 2021.