Prices increase by 8.5% in March compared to same month of previous year
Consumer prices were 8.5% higher on average in March 2022 than a year earlier. The last time the inflation was as high was in June 2007. The highest price rise over the last 12 months was measured for food. In one month, consumer prices increased by 1.0% on average.
In 12 months, compared to March 2021:
A price increase of 13.0% was recorded for food, within which 33.6% for margarine, 27.9% for bread, 21.8% for cheese, 21.4% for poultry meat, 18.7% for rolls, 18.2% for milk products, 17.9% for seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits altogether), 14.2% for buffet products, 3.8% for salami, sausages and ham, 3.5% for pork and 3.3% for sugar. The price of household repair and maintenance goods became 20.8% and motor fuel prices 11.4% higher. Alcoholic beverages and tobacco prices rose by 7.0% on average, within which tobacco prices by 7.7%. Consumers paid 9.5% more for consumer durables, within which 16.1% more for kitchen and other furniture, 15.1% more for living and dining room furniture, 12.3% more for second-hand passenger cars, 10.3% more for television sets and 8.6% more for new passenger cars. Services charges were up by 6.0%, within which the repair and maintenance of dwellings cost 18.7% and the repair and maintenance of vehicles 13.0% more, and telephone and internet subscriptions 1.5% less for consumers.
In one month, compared to February 2022:
Consumer prices increased by 1.0% on average. Food became 2.0%, within which margarine 7.5%, seasonal food items 5.5%, poultry meat 3.3%, cheese 3.2%, bread 3.0%, milk products 2.7% and pork 2.6% more expensive, and chocolate and cocoa 1.1% and sugar 0.4% cheaper. A price increase of 1.0% was measured for consumer durables, within which 2.1% for new passenger cars and 1.3% for second-hand ones. The price of household repair and maintenance goods rose by 2.3%. Services became 0.6% more expensive, within which 2.7% more was paid for recreation in the country and 2.1% more for the repair and maintenance of dwellings, and 0.5% less for telephone and internet subscriptions.
In January–March 2022 compared to same period of previous year:
Consumer prices were up by 8.2% for all households on average and by 7.8% among pensioner households.
Consumer price indices, March 2022
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 101.0 | 108.5 |
| Harmonised index of consumer prices | 101.0 | 108.6 |
| Core inflation (original, seasonally unadjusted)a) | 101.1 | 109.1 |
| Consumer price index for pensioners | 101.0 | 108.3 |
a) The Hungarian Central Statistical Office applies a new methodology for the computation of core inflation from April 2021, the indicator no more includes changes in the price of alcoholic beverages and tobacco. The time series were revised back to January 1995. Seasonally adjusted indices are available in Table 1.2.1.7 of Summary tables (STADAT).