Prices increase by 24.5% in December and by 14.5% on average in 2022
Consumer prices were 24.5% higher on average in December 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. Consumer prices increased by 1.9% on average in one month and by 14.5% on average in 2022 compared to the previous year.
In 12 months, compared to December 2021:
A price rise of 44.8% was recorded for food, within which the highest price increases for the following: 83.2% for cheese, 82.7% for eggs, 81.1% for bread, 79.4% for butter, 79.2% for milk products, 71.0% for other confectionary products, 70.8% for pasta products, 58.0% for margarine, 57.2% for rolls, 52.1% for milk and 51.5% for poultry meat. The lowest price rises within the product group were observed for flour (6.7%) and edible oil (1.5%). Electricity, gas and other fuels became 55.5% more expensive. Within this, natural and manufactured gas prices went up by 97.8%, the price of firewood by 58.6%, that of butane and propane gas by 48.7% and electricity prices by 27.8%. Consumers paid 13.6% more for consumer durables, within which 24.1% more for new passenger cars, 20.8% more for heating and cooking appliances, 20.3% more for kitchen and other furniture and 18.7% more for living and dining room furniture. Alcoholic beverage and tobacco prices rose by 13.4% on average, within which alcoholic beverage prices by 21.3%. Pet food prices became 48.8%, the price of detergents 34.2%, that of household repair and maintenance goods 30.8% and toilet article prices 28.5% higher. Consumers paid 27.0% more for motor fuels. Service charges were up by 9.5%, within which a taxi cost 30.0%, the repair and maintenance of dwellings 24.3%, the repair and maintenance of vehicles 22.6%, other public entertainment tickets 22.0%, recreation in the country 20.9% and personal care services 17.9% more for consumers.
In one month, compared to November 2022:
Consumer prices increased by 1.9% on average. Food became 2.1% more expensive, within which milk cost 7.2%, milk products and butter both 6.2%, cheese 4.9% and buffet products 4.0% more for consumers. There was a decrease of 7.9% in the price of eggs, entering the group of products covered by a regulated price cap, and of 1.6% in margarine prices. The price of electricity, gas and other fuels lessened by 6.0%, within which consumers paid 11.8% less for natural and manufactured gas (Press release). Detergents cost 2.5%, pet food 1.5% and household repair and maintenance goods 1.2% more for consumers. Motor fuels became 24.4% more expensive owing to the termination of the regulated price cap on this product group. Service prices increased by 0.8% on average, within which recreation in the country became 5.4%, other public entertainment tickets 2.2% and personal care services 1.0% more expensive.
In 2022 compared to previous year:
Consumer prices increased by 14.5% on average, within which the highest price rise of 26.0% was measured for food. A price rise of 21.7% was recorded for electricity, gas and other fuels, 12.2% for consumer durables, 12.0% for other goods, 9.9% for alcoholic beverages and tobacco, 7.1% for services and 5.5% for clothing and footwear. Consumer prices went up by 15.2% on average among pensioner households.
Consumer price indices, December 2022 and year 2022
(%)
| Denomination | December 2022 | Year 2022 | |
|---|---|---|---|
| previous month = 100.0 | corresponding month of previous year = 100.0 | previous year = 100.0 | |
| Consumer price index | 101.9 | 124.5 | 114.5 |
| Harmonised index of consumer prices | 101.8 | 125.0 | 115.3 |
| Core inflation (original, seasonally unadjusted)a) | 101.6 | 124.8 | 115.7 |
| Consumer price index for pensioners | 101.4 | 126.5 | 115.2 |
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).