Prices increase by 21.1% in October compared to same month of previous year
Consumer prices were 21.1% higher on average in October 2022 than a year earlier. The highest price rises were measured for electricity, gas and other fuels as well as food over the last twelve months. In one month, consumer prices increased by 2.0% on average.
In 12 months, compared to October 2021:
A price rise of 40.0% was recorded for food, within which the highest price increases for the following: 87.9% for eggs, 81.4% for bread, 75.4% for milk products, 74.7% for cheese, 71.6% for butter, 58.6% for pasta products, 58.0% for margarine, 54.7% for rolls and 53.4% for other confectionary products. The lowest price rises within the product group were observed for sugar (11.8%) and edible oil (4.4%). Electricity, gas and other fuels became 64.4% more expensive. Within this, natural and manufactured gas prices went up by 121.0%, the price of firewood by 57.7%, that of butane and propane gas by 51.1% and electricity prices by 28.6%. Consumers paid 14.9% more for consumer durables, within which 22.5% more for new passenger cars, 19.7% more for kitchen and other furniture and 19.1% more for living and dining room furniture. Alcoholic beverage and tobacco prices rose by 12.8% on average, within which alcoholic beverage prices by 17.7%. Pet food prices became 46.9%, the price of household repair and maintenance goods 29.4%, that of household paper and other products 29.0%, detergent prices 27.3% and the price of toilet articles 26.0% higher. Service charges were up by 8.3%, within which a taxi cost 27.4%, the repair and maintenance of dwellings 23.8%, the repair and maintenance of vehicles 21.3% and other public entertainment tickets 19.4% more for consumers and rents grew by 13.1%.
In one month, compared to September 2022:
Consumer prices increased by 2.0% on average. Food became 4.3% more expensive, within which eggs cost 24.1%, other confectionary products 9.8%, milk products 6.5%, seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits) and cheese both 6.2%, bread 6.1%, butter 5.6% and rolls 5.8% more for consumers. The price of electricity, gas and other fuels went up by 1.6%, within which firewood became 11.3% and butane and propane gas 4.2% more expensive (Press release). Household paper and other products cost 5.1%, detergents 3.6%, pet food 3.4% and toilet articles 3.2% more for consumers. Service prices increased by 0.5% on average, within which other public entertainment tickets and personal care services both became 2.0% and the repair and maintenance of dwellings 1.7% more expensive.
In January–October 2022 compared to same period of previous year:
Consumer prices rose by 12.7% for all households on average and by 13.0% among pensioner households.
Consumer price indices, October 2022
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 102.0 | 121.1 |
| Harmonised index of consumer pricesa) | 102.1 | 121.9 |
| Core inflation (original, seasonally unadjusted)b) | 102.2 | 122.3 |
| Consumer price index for pensioners | 102.3 | 123.6 |
a) Contrarily to the consumer price index, the harmonised index of consumer prices (HICP) also takes into account the consumption of foreigners within Hungary in accordance with EU requirements. Therefore, it is affected by the fact, too, that passenger cars with no Hungarian vehicle licence can only be refuelled at market prices instead of regulated prices from 27 May 2022.
b) 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).