Third Of Hungarians Spend Savings On Christmas Gifts, Survey Reveals

  • 10 Dec 2015 8:00 AM
Third Of Hungarians Spend Savings On Christmas Gifts, Survey Reveals
Technical devices are still the most popular Christmas gifts in Hungary, economic news portal said in its latest market roundup. According to a recent survey conducted by K&H Bank, Hungarians spend 43 thousand forints (approx. €140) on average during Christmas shopping season, including 29 thousand forints spent on gifts and presents.

While 82 per cent of consumers can go shopping by using their December salary, 35 per cent need to use previous savings too. Only five per cent take out a loan for such purpose.

The survey also shows that smartphones, tablets, mp4 players and smart televisions are the top gift priorities for Christmas in Hungary.

According to one of the biggest Hungarian online stores, this year’s hits will be those speakers, which use bluetooth or wifi instead of cable connection.

When children grow teenagers, their expectations in terms of Christmas gift rise rapidly, says K&H Bank’s Nóra Horváth Magyary, adding that it causes financial difficulties in most of the families.

Parents should talk to their kids before making a decision to buy an expensive electronic device, the family financial expert says.

The relatively low and stable prices also inspire Hungarian shoppers in the run up to Christmas. The Central Statistical Office (KSH) has said recently that consumer price rose by 0.5% year on year in November, accelerating from a 0.1% increase in the previous month.

The prices were lifted by a 2.0% increase in food prices, a 3.7% rise in alcohol and tobacco prices and 2.0% higher consumer durable prices. Service prices climbed 1.4% and clothing prices edged up 0.4%.

However, analysts still project annual average inflation of 0% for this year in Hungary.


Republished with permission

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