Hungarian inflation falls below 20% but still remains highest in CEE

08
Aug
2023
News - Hungarian inflation falls below 20% but still remains highest in CEE #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%.
 




Latest news


New leases

  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.


Latest news

News - Skanska advances with second phase of H2Offices complex in Budapest
06
May
2026

Skanska advances with second phase of H2Offices complex in Budapest

by Property Forum
Skanska has announced that the second phase of the H2Offices complex in Budapest has reached structural completion. With more than 22,000 sqm of office space, the development is moving into the next stage of construction and remains on track for completion in Q1 2027.
Read more >
News - Hubix invests in Timișoara mixed-use project
06
May
2026

Hubix invests in Timișoara mixed-use project

by Property Forum
Hubix, a Romanian real estate management and investment company, has entered into partnership with Alber Holding to develop the first phase of City of Mara Forum, a mixed-use project in Timișoara.
Read more >
News - Czech retail parks hit 15-year expansion high as locals shop closer
06
May
2026

Czech retail parks hit 15-year expansion high as locals shop closer

by Property Forum
Retail parks in the Czech Republic are expanding at their fastest pace in 15 years, with 82,400 sqm of new and expanded space delivered in 2025. The segment now accounts for nearly one-third of all modern retail space in the country, according to a Cushman & Wakefield report.
Read more >


Property Forum ABOUT US

Property Forum is a leading event hub in the CEE real estate industry with over 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Warsaw, Budapest, Bucharest, Bratislava, Prague, Zagreb and Sofia, amongst other locations.
Please send press releases to
newsdesk AT property-forum DOT eu
MORE >

CONTACT

NEWSLETTER

 

Property Forum © 2017 – 2026 | Terms & conditions | Privacy policy