Some Prices In Hungary ‘Lower Than 14 Years Ago’

  • 27 Aug 2018 10:58 AM
  • Budapest Business Journal
Some Prices In Hungary ‘Lower Than 14 Years Ago’
Last year price levels in Hungary were about 42% below the EU average, and lower than 14 years ago. However, there are significant variations in price levels between different groups of products and services, as shown in a survey by Eurostat, the EUʼs statistical office.

Eurostat compiled a survey of the price levels of consumer goods and services in Europe for last year, determining not just country averages, but also breaking prices down into different categories, offering a better picture of the financial situation of the population.

Taking 100 as the EU price level average, the statistics show that Denmark and Luxembourg had the highest price levels in 2017 (both 41% above the EU average), followed by Sweden (35% above), Ireland (28% above), Finland (23% above), and the United Kingdom (17% above).

The lowest price levels were recorded in Bulgaria (56% below the EU average), Romania (52% below), Poland (47% below), Hungary (42% below), and Lithuania (40% below).

At a more detailed level, Denmark was the most expensive Member State in 2017 for "restaurants and hotels" (51% above the EU average), "food" (50% above), "recreation and culture" (48% above), "transport" (28% above), and "household equipment" (20% above). 

Ireland was the most expensive Member State for "alcoholic beverages and tobacco" (74% above the average); Luxembourg for "housing, water, electricity and gas" (63% above); Greece for "communications" (54% above); and Sweden for "clothing and footwear" (34% above).

In Hungary, highest prices were registered for "communications" (89.9% of the EU average), "clothing and footwear" (86.9%), and "food and non-alcoholic beverages" (82.1%). Housing costs, however, amounted to only 41.9% of the EU level.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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