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A Troubling Trend: How Hungary's Living Standards are Slipping Away

• 21 Dec 2023 11:27 AM
• Hungary Around the Clock

Hungary has lost its relatively good position among East European EU members, according to the development of the actual individual consumption (AIC) indicator, published by Eurostat.

The AIC index is a measure of the standard of living based on the goods and services purchased by households, balanced by the price level of the given country.

Even as Hungary came closer to the Western standard of living, other post-socialist countries were overtaking it one by one, website Menedzment Fórum reports.

It can be said that Hungary was unable to take advantage of the historic opportunity offered by joining the EU with an “amazingly bad performance”, the website remarks.

Hungary started from a particularly good position in 2004, but lost its advantage over Slovakia by 2010, and Romania overtook Hungary by 2018.

Only Bulgaria now lags behind Hungary with a value of 69 to Hungary’s 71.

Click here to read the full report

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