Bread Price Rise in Hungary is Highest in EU

  • 28 Sep 2022 10:45 AM
  • Budapest Business Journal
Bread Price Rise in Hungary is Highest in EU
Prices of bread in Hungary were about 66% higher in August than a year before, making the bread price increase in Hungary the biggest among EU Member States, according to data released by Eurostat.

Some member states were much more affected than others, Eurostat notes. 

While the highest average rate of bread price change in Hungary was by far the largest in the EU, Lithuania (a y.o.y. increase of 33%), as well as Estonia and Slovakia (both 32%) were also well above the EU average price change of 18%.

At the other end of the spectrum, the lowest average rate of change in bread prices was recorded in France ( an increase of 8%), followed by the Netherlands and Luxembourg (both 10%). 

Bread, vegetables, meat - food has become more expensive. 

Prices for cooking oils and fats have risen particularly sharply, but important staple foods such as bread have also become significantly more costly.

This is particularly due to the Russian invasion of Ukraine, which has significantly disturbed global markets since Russia and Ukraine have been major exporters of grains, wheat, maize, oilseeds (particularly sunflowers), and fertilizers, the statistical agency notes.

In August 2021, the price of bread was on average only 3% higher in the European Union than August 2020.

MTI Photo: Tibor Illyés

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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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