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Highest Inflation Rate in Hungary for 24 Years

Aug 9, 2022

Consumer prices in Hungary were 13.7% higher on average in July 2022 than a year earlier and the highest in twenty-four years. The largest price rises were measured for food and consumer durables year-on-year. The seasonally adjusted so-called core inflation was 16.7%, one of the highest in Europe. In one month, consumer prices increased on […]

Foodstuff Prices are up in Hungary by over 34%

Aug 5, 2022

Looking back over the past 12 months, it seems that Hungarian shops have been hit by price rises in several waves. The first jump came at the end of last year, when annualized inflation suddenly jumped from 1-2% to around 10%, then from 10% to 20% in February-March this year, and in July the increase […]

Many Hungarians Forced to Buy Less of Basic Foodstuffs

Jul 14, 2022

45% of Hungarians are already having to give up some of their basic foodstuffs and household items because of price rises. Women, pensioners and people with primary education feel the effects of inflation the most, according to a survey conducted by Pulzus Research for the business news site Inflation stood at 11.7% in June […]

GKI: Artificial Prices Keep Hungarian Inflation Down

Jul 13, 2022

Hungary's inflation would have been much worse than now, the highest in the EU, without state intervention, the Hungarian economic research company GKI reported. In May, Hungarian inflation was the ninth highest in the EU at 10.8%, and while all EU countries have yet to release their June figures, it is already known that Hungarian […]

Most Hungarians Spend Less in Inflationary Environment

Jun 22, 2022

In the current inflationary environment, 80% of Hungarians indicated that they are spending less to protect their current financial situation, with consumers cutting back on purchases of food and hygiene products in particular, the CEO of Magyar Cetelem Bank said at a press conference in Budapest on Wednesday, presenting the results of a survey conducted […]

Hungary Delivers Unexpected Rate Hike as Forint Weakens to Record Level

Jun 17, 2022

The National Bank of Hungary surprised markets when it unexpectedly raised the key interest rate as monetary policy setters seek to put a floor under the sliding forint. In the face of double-digit inflation and massive wage increases, the central bank has to keep raising borrowing costs to keep Hungarian financial assets competitive. The National […]

High Inflation Not Seen in Hungary for Over 20 Years

Jun 8, 2022

In May, consumer prices were on average 10.7% higher in Hungary than a year earlier. Over the past year, food and consumer durables have seen the biggest price increases. Consumer prices rose by an average of 1.7 % in one month, the country's Central Statistical Office reports. In 12 months, compared to May 2021:A price […]

Hungary seeks domestic ownership in key sectors, may levy special taxes

May 20, 2022

Hungary’s incoming government faces some of the biggest economic challenges of the last decade as rampant energy prices may force it to abandon state-imposed price caps, while global disruptions are denting prospects for growth. The new Orbán government may again deploy unorthodox economic measures to guard fiscal stability and prop up the economic outlook. Prime […]

Price Rises Perceived Much Higher Than Official Data

May 11, 2022

According to the GKI Economic Research Institute, the population perceived a 22% rise in prices, compared to the official inflation figure of 9.5% in April, which is partly due to statistical reasons, but partly to the observation methodology, the research institute told the state news agency MTI. The researchers stressed that the perception of the […]

Fuel and Food Price Freeze Extended Until July 1

Apr 27, 2022

The Hungarian government has decided to extend the price restrictions on fuel and certain food products until July 1, PM Viktor Orbán announced this Wednesday. He said in a video on social media that the government had discussed the issue of fuel and food prices at its meeting on Wednesday. He stressed that prices are […]

Hungarians Experience The Highest Inflation in 15 Years

Apr 8, 2022

Consumer prices were 8.5% higher on average in March 2022 than a year earlier. The last time the inflation was as high was in June 2007. The highest price rise over the last 12 months was measured for food. In one month, consumer prices increased by 1.0% on average, the Central Statistical Office reports. In […]

Hungarian Central Bank Delivers Aggressive Rate Hike to Combat Inflation

Mar 25, 2022

The National Bank of Hungary raised massively the EU’s highest key interest rate as it seeks to tamper runaway inflation and bolster the forint. Analysts expect policy makers to continue raising borrowing costs as the war in Ukraine continues to rattle markets. The Monetary Council of the Hungarian National Bank (NBH) raised the central bank […]

Fuel Supply Shortages Show Disruptive Effect of Price Cap

Mar 11, 2022

Petrol stations across the country experienced fuel shortages this week in the face of record demand. The government-imposed price cap on motor fuel is forcing an increasing number of gas stations to close down. Long queues were forming at gas stations across the country this week and there is a growing number of petrol stations […]

High Inflation Rate Not Seen in Hungary for 15 Years

Mar 9, 2022

Consumer prices were 8.3% higher on average in Hungary in February 2022 than a year earlier, the country's Central Statistical Office reports. The last time inflation was as high in Hungary 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 […]

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