Soaring Food Prices in Hungary

Consumer prices were 3.8% higher on average in July 2020 than a year earlier. Significant price rises were measured over the past year for food as well as alcoholic beverages and tobacco.

Data published today by Hungary's Central Statistical Office suggest that in the past 12 months, compared to July 2019, ood prices went up by 7.8%, within which the price of seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits together) became 17.1%, that of other meat preparations 16.1%, the price of sugar 14.5%, salami, sausages and ham prices 11.5% and the price of eggs 8.9% higher. Alcoholic beverages and tobacco became an average 6.3%, within which tobacco – mainly due to an increase in the excise duty on this product group – 9.7% more expensive. Motor fuel prices were cut by 4.2%.

In one month, compared to June 2020, consumer prices went up by 1.1% on average. food prices rose by 0.1%, the 2.2% reduction in the price of seasonal food items (potatoes, fresh vegetables and fruits) only partly offset the 0.4% increase in non-seasonal food items prices. Within seasonal food items, fresh domestic and tropical fruits – instead of their usual price decrease in July of earlier years – became 3.3% more expensive, the price change differing from the seasonal one was owing to the lower-than-usual supply because of the unfavorable weather. Within non-seasonal food items, edible oil became 2.2%, eggs 1.9%, milk 1.3% and bread 1.0% more expensive, while potatoes 6.4% and pork 3.9% cheaper.