News Article economy food Hungary inflation services
by Property Forum | Economy

Consumer prices in Hungary were 17.6% higher on average in July 2023 than a year earlier. The highest price rises were measured for electricity, gas and other fuels as well as food over the last twelve months. In one month, consumer prices increased by 0.3% on average, within which, however, clothing and footwear cost 1.4%, food 0.9% and consumer durables 0.5% less, the Hungarian Central Statistical Office (KSH) reports.

A price rise of 23.1% was recorded for food, within which the highest ones were for the following: 30.7% for eggs, 29.5% for milk products, 28.8% for coffee, 26.7% for bread, 25.4% for rolls and 24.2% for butter. The lowest price increases within the product group were observed for flour (2.4%) and edible oil (1.5%). Electricity, gas and other fuels became 35.7%, within which natural and manufactured gas 47.2%, butane and propane gas 41.6% and electricity 26.0% more expensive. Motor fuel prices rose by 21.5%. Alcoholic beverage and tobacco prices were up by 14.6% on average, within which alcoholic beverage prices by 19.6%. 

Services became 14.6% more expensive, within which motorway use, renting a car and parking cost 25.3%, other public entertainment tickets 21.7%, the repair and maintenance of vehicles 21.2%, recreational services 20.2%, the repair and maintenance of dwellings 17.5% and a taxi 16.6% more for consumers. Consumers paid 3.6% more for consumer durables, within which 12.7% more for kitchen and other furniture, 9.5% more for new passenger cars, 11.2% more for heating and cooking appliances and 7.4% more for living and dining room furniture. Pet food prices became 39.7%, the price of detergents 32.6%, that of toilet articles 21.7% and household repair and maintenance goods prices 10.2% higher.

In one month, compared to June 2023 consumer prices were up by 0.3% on average. Food became 0.9% cheaper on average, within which eggs cost 5.0%, milk 4.4%, bread 3.9%, butter 3.8%, milk products 3.4%, seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits altogether) 2.8%, poultry meat 2.6%, cheese 2.5% and pasta products 2.0% less, while other meat preparations 1.0% and chocolate and cocoa 0.9% more for consumers. 

Services became 1.7% more expensive, within which 9.6% more was paid for recreational services and 8.5% more for postal services, and rents increased by 1.4%. Electricity, gas and other fuel prices went up by 1.1%, within which natural and manufactured gas prices by 2.9% Motor fuel prices rose by 1.1%.