New Inflation Record in Hungary

The annual inflation rate in Hungary was 22.5% in November, another record high for more than twenty years. As in previous months, food and energy were again the most expensive items, but this figure does not include the impact of scrapping the capped gas(oline) prices, which will only be felt in January. In one month, consumer prices increased by 1.8%, the Central Statistical Office reports.

In 12 months, compared to November 2021:
A price rise of 43.8% was recorded for food, within which the highest price increases for the following: 102.9% for eggs, 81.8% for bread, 79.0% for milk products, 78.8% for cheese, 77.3% for butter, 70.8% for pasta products, 69.1% for other confectionary products, 60.3% for margarine, 54.4% for poultry meat, 54.0% for rolls and 52.9% for milk. The lowest price rises within the product group were observed for flour (8.7%) and edible oil (3.2%). Electricity, gas and other fuels became 65.9% more expensive. Within this, natural and manufactured gas prices went up by 124.3%, the price of firewood by 60.1%, that of butane and propane gas by 52.1% and electricity prices by 28.3%. Consumers paid 14.4% more for consumer durables, within which 24.0% more for new passenger cars, 21.1% more for heating and cooking appliances and 19.6% more for living and dining room furniture. Alcoholic beverage and tobacco prices rose by 13.8% on average, within which alcoholic beverage prices by 19.4%. Pet food prices became 51.1%, the price of household paper and other products 34.2%, that of detergents 32.2%, household repair and maintenance goods prices 30.5% and the price of toilet articles 27.3% higher. Service charges were up by 9.0%, within which a taxi cost 27.8%, the repair and maintenance of dwellings 23.9%, the repair and maintenance of vehicles 22.7%, other public entertainment tickets 20.0% and personal care services 17.1% more for consumers.

In one month, compared to October 2022:
Consumer prices increased by 1.8% on average. Food became 3.6% more expensive, within which other confectionary products cost 10.9%, pasta products and eggs both 9.6%, cheese 5.5%, poultry meat 5.4%, milk 4.7%, buffet products 4.5%, bread 4.2%, butter 3.9% and rolls 3.8% more for consumers. The price of electricity, gas and other fuels went up by 1.3%, within which firewood became 3.9%, butane and propane gas 2.5% and natural and manufactured gas 1.5% more expensive. Pet food cost 4.4%, detergents 4.0% and household paper and other products 3.3% more for consumers. Service prices increased by 0.9% on average, within which gambling prices by 6.6%, the price of repair and maintenance of vehicles by 2.2% and rents by 1.6%, and health services became 1.3% more expensive.