Watch: Inflation Insights - Consumer Price Index in Hungary Remains Above 25% in March

  • 13 Apr 2023 1:01 PM
  • Budapest Business Journal
Watch: Inflation Insights - Consumer Price Index in Hungary Remains Above 25% in March
Consumer prices in Hungary were 25.2% higher on average in March 2023 than a year earlier, according to data published by the Central Statistical Office (KSH).

The highest price rises were measured for electricity, gas, and other fuels as well as food over the last 12 months, KSH notes.

Compared to March 2022, a price rise of 42.6% was recorded for food, within which the highest ones for the following: 74% for eggs, 72.8% for milk products, 68% for butter, 67% for bread, 66.2% for other confectionery products, 60.6% for cheese, 53.9% for pasta products, 50.4% for milk and 48% for rolls.

The lowest price increases within the product group were observed for flour (9.7%) and edible oil (3.9%). 

Electricity, gas and other fuels became 43.1%, within which natural and manufactured gas 62.8%, firewood 55.9%, butane and propane gas 51.6%, and electricity 27.6% more expensive. Consumers paid 11.2% more for consumer durables, within which 20.7% more for new passenger cars, 19.6% more for heating and cooking appliances, 18.9% more for kitchen and other furniture, and 16.7% more for living and dining room furniture. 

Alcoholic beverage and tobacco prices rose by 19.7% on average, within which alcoholic beverage prices by 27.4%.

Pet food prices increased by 62.3%, the price of detergents by 35.8%, that of toilet articles by 28.1%, and household repair and maintenance goods prices by 26.9%.

Motor fuels also became 26.9% more expensive. 

Service charges were up by 13.0%, within which a taxi cost 35.7%, other public entertainment tickets 27.7%, motorway use, renting a car and parking 26.4%, recreation in the country as well as the repair and maintenance of vehicles 24.4% and the repair and maintenance of dwellings 20.6% more for consumers.

Prices up 0.8% Compared to February

Compared to February 2023, consumer prices increased by 0.8% on average. Food became 1.5%, within which seasonal food items (potatoes, fresh vegetables, and fresh domestic and tropical fruits) 6.1%, coffee 5.1%, non-alcoholic beverages 4.5%, buffet products and chocolate and cocoa both 2.6% and meals at restaurants 1.6% more expensive.

Cheese became 3.7%, butter 3.1%, pasta products 2.3%, rolls 1.2%, and milk 0.8% cheaper.

The price of electricity, gas, and other fuels lessened by 3.8%, within which 8.7% less was paid for natural and manufactured gas.

Motor fuel prices were cut by 2.6%. Pet food cost 7%, detergents 2.1%, and flowers and ornamental plants 1.9% more for consumers.

On average, services became 1.9%, within which telephone and internet services 8.4%, TV subscriptions 6.5%, taxis 4.6%, recreation in the country 3.2%, and personal care services 2.1% more expensive.

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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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