Inflation Peaks at 14-Year High in Hungary

Consumer prices were 7.4% higher on average in November 2021 than a year earlier. The last time the inflation was as high was in December 2007. 

The highest price rises over the last 12 months were measured for motor fuels as well as alcoholic beverages and tobacco. In one month, consumer prices increased by 0.7% on average, the Central Statistical Office reports.

In 12 months, compared to November 2020:
Food prices were up by 6.0%, within which the price of edible oil by 26.9%, that of flour by 20.2%, margarine prices by 19.5%, the price of bread by 12.1%, that of rolls by 11.3%, canteen meals prices by 10.5%, the price of poultry meat by 9.0% and that of restaurant meals by 8.8%. Motor fuel prices became 37.7% and the price of household repair and maintenance goods 14.2% higher. Alcoholic beverages and tobacco prices rose by 11.0% on average, within which tobacco prices by 16.8%. Consumers paid 6.6% more for consumer durables, within which 14.7% more for kitchen and other furniture, 13.2% more for living and dining room furniture, 8.5% more for television sets and 7.1% more for new passenger cars. Services charges were up by 4.6%, within which the repair and maintenance of dwellings cost 14.5% and the repair and maintenance of vehicles 9.1% more for consumers.

In one month, compared to October 2021:
Consumer prices increased by 0.7% on average. Food became 0.8%, within which flour 7.4%, rolls 4.3%, bread 4.0%, cheese 3.1%, sugar 1.9%, pasta products 1.7% and eggs 1.5% more expensive and salami, sausages and ham 1.0% cheaper. Clothing and footwear prices were up by 1.2%, the price of motor fuels by 2.0% and that of firewood by 2.3%. Consumer durables became 1.2%, within which kitchen and other furniture 2.3%, second-hand passenger cars 2.1% and television sets 1.9% more expensive.