Detailed Report: Inflation in Hungary Still Above 20% This June

  • 11 Jul 2023 4:28 PM
  • Budapest Business Journal
Detailed Report: Inflation in Hungary Still Above 20% This June
Consumer prices in Hungary were 20.1% higher on average in June 2023 than a year earlier, according to data published by the Central Statistical Office (KSH).

Compared to June 2022, a price rise of 29.3% was recorded for food, within which the highest ones were for the following: 53.0% for other confectionery products, 48.6% for bread, 41.4% for milk products, 40.1% for eggs, 35.6% for butter, 33.3% for rolls, 30.4% for pasta products, 26.7% for milk and 23.3% for cheese.

The lowest price increases within the product group were observed for flour (5.8%) and edible oil (3.1%).

Electricity, gas, and other fuels became 34.3%, within which natural and manufactured gas 43.%, butane and propane gas 44.6% and electricity 26.6% more expensive. 

Alcoholic beverage and tobacco prices were up by 18.7% on average.

Consumers paid 6.1% more for consumer durables, within which they gave out some 14.6% more for kitchen and other furniture, 14.5% more for new passenger cars, 13.9% more for heating and cooking appliances, and 9.5% more for living and dining room furniture.

Pet food prices became 47.6%, the price of detergents 36.9%, that of toilet articles 24.1%, and household repair and maintenance goods prices were 11.5% higher.

Motor fuels became 20.2% more expensive. Service charges rose by 14.4%, within which motorway use, renting a car and parking cost 27%, other public entertainment tickets 26.1%, the repair and maintenance of vehicles 22.1%, recreational services 21%, the repair and maintenance of dwellings 18.5% and a taxi 18.2% more for consumers.

Consumer Prices up 0.3% in a Month

Compared to May 2023 consumer prices were (only) up by 0.3% on average. 

Food prices decreased by 0.4% on average. Within this, seasonal food items (potatoes, fresh vegetables, and fresh domestic and tropical fruits altogether) cost 3.2%, butter 2.8%, milk 2.7%, cheese 2.3%, and pasta products 1.6% less for consumers.

Chocolate and cocoa became 1.9% and pork 0.8% more expensive. 

Electricity, gas, and other fuel prices were reduced by 2.1%, within which 4.1% less was paid for natural and manufactured gas.

Motor fuel prices rose by 2.2%. The price of detergents became 2.4%, that of toilet articles 0.6% and pet food prices 1.1% higher.

Services became 0.9% more expensive, within which 6.6% more was paid for recreational services, and the maintenance costs of private houses went up by 1.5% and rents by 0.8%.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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