Hungarian Bread Price Increase the Highest in the EU

Bread prices in the EU rose by an average of 18% on an annual basis in August this year, significantly up on the 2.7% increase recorded in the same period in 2021 compared to the same period the year before, the business news site napi.hu reports based on information from Eurostat.

Hungary is the absolute record holder in this respect, with a price increase of 65.5%, which is not only three times higher than the average, but also double the increase in bread prices in Lithuania, which is in second place. A year ago, bread was 4.7% more expensive in this country, also on an annual basis.

Meanwhile, the lowest average bread price changes were in France (8%), the Netherlands and Luxembourg (10-10%).

Compared to the previous month, bread prices in Hungary rose by 5.4%, compared to 0.9% in the EU, and Hungary is also the record holder in this respect.

The Hungarian Central Statistical Office (KSH) previously reported that inflation in Hungary was 15.6% in August compared to a year earlier and 1.8% in July. Food prices rose by 30.9%, with the price of margarine (66.9%), bread (64.3%), cheese (61%), dry pasta (57.9%), dairy products (54, 7%), butter and butter cream (54.5%), bakery products (45.4%), eggs (42%), rice (40.9%), poultry meat and confectionery (40.4%) having gone up significantly. (The different figures are due to differences in methodology).

In the euro area, consumer prices rose by a record 9.1% year-on-year in August, up from 8.9% the previous month, while annual inflation in EU countries accelerated to 10.1% from 9.8% in July.