Highest Inflation in Hungary Since August 2007

Consumer prices were 7.9% higher on average in January 2022 than a year earlier. The last time the inflation was higher was in August 2007. The highest price rises over the last 12 months were measured for motor fuels as well as food. In one month, consumer prices increased by 1.4% on average, the Central Statistical Office reports.

In 12 months, compared to January 2021:
Food prices were up by 10.1%, within which the price of edible oil increased by 33.4%, that of flour by 31.0%, margarine prices by 21.2%, the prices of bread and poultry meat by 18.0% each, milk product prices by 17.2%, the price of milk by 16.9%, that of cheese by 15.8%, pasta product prices by 15.1%, the price of rolls by 14.9%, that of canteen meals by 11.3%, restaurant meals prices by 11.2% and the price of sugar by 11.0%.

Motor fuel prices became 22.5% and the price of household repair and maintenance goods 17.1% higher. Alcoholic beverages and tobacco prices rose by 7.7% on average, within which tobacco prices by 10.0%. Consumers paid 7.9% more for consumer durables, within which 15.7% more for kitchen and other furniture, 13.9% more for living and dining room furniture, 8.8% more for television sets and 8.2% more for second-hand passenger cars. Services charges were up by 5.2%, within which the repair and maintenance of dwellings cost 16.3% and the repair and maintenance of vehicles 10.7% more for consumers.

In one month, compared to December 2021:
Consumer prices increased by 1.4% on average. Food became 3.0% more expensive. Within this category, prices went up as follows: edible oil 8.6%, flour 7.9%, seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits altogether) 6.9%, coffee 6.5%, cheese 5.8%, poultry meat 5.0%, pasta products 4.4%, milk 3.6%, rolls 3.5% and sugar 3.4% .

Alcoholic beverages and tobacco prices were up by 1.2%, within which the price of alcoholic beverages by 2.3%. Consumer durables became 1.0%, within which second-hand passenger cars 1.6% and new ones 1.3% more expensive. The price of motor fuels rose by 1.1%. Consumers paid 0.7% more for services, within which the charges for the repair and maintenance of dwellings increased by 3.3%, and motorway tolls and the charges for renting a car and parking by 2.8% – as an effect of a rise in motorway tolls. Clothing and footwear cost 1.7% less for consumers due to the end-of-season sale.