Prices increase by 25.4% in February compared to same month of previous year
Consumer prices were 25.4% higher on average in February 2023 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 0.8% on average.
In 12 months, compared to February 2022:
A price rise of 43.3% was recorded for food, within which the highest price increases were measured for the following: 79.2% for eggs, 76.2% for milk products, 75.1% for butter, 72.1% for cheese, 71.1% for bread, 68.6% for other confectionery products, 57.3% for pasta products, 53.7% for milk and 51.9% for rolls. The lowest price rises within the product group were observed for flour (9.8%) and edible oil (3.4%). Electricity, gas and other fuels became 49.0% more expensive. Within this, natural and manufactured gas prices went up by 78.4%, the price of firewood by 59.5%, that of butane and propane gas by 52.0% and electricity prices by 27.6%. Consumers paid 12.6% more for consumer durables, within which 23.9% more for new passenger cars, 20.2% more for heating and cooking appliances, 19.6% more for kitchen and other furniture and 17.8% more for living and dining room furniture. Alcoholic beverage and tobacco prices rose by 18.8% on average, within which alcoholic beverage prices by 25.6%. Pet food prices became 55.5%, the price of detergents 33.4%, that of household repair and maintenance goods 28.5% and toilet article prices 28.2% higher. Motor fuels became 30.3% more expensive. Service charges were up by 11.6%, within which a taxi cost 33.2%, motorway use, renting a car and parking 27.7%, other public entertainment tickets 27.1%, the repair and maintenance of vehicles 24.7%, the recreation in the country 23.8% and the repair and maintenance of dwellings 22.0% more for consumers.
In one month, compared to January 2023:
Consumer prices increased by 0.8% on average. Food became 1.7% more expensive, within which seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits) cost 6.4%, coffee 6.1%, fruit and vegetable juices 3.0%, non-alcoholic beverages 2.9%, meals at canteens 2.2%, meals at restaurants 1.9%, bread 1.3% and chocolate and cocoa 1.2% more for consumers. Margarine became 2.2%, pork 0.6% and poultry meat 0.5% cheaper. The price of electricity, gas and other fuels was cut by 2.0%, within which consumers paid 5.4% less for natural and manufactured gas (Press release). Motor fuel prices lessened by 3.6%. Pet food cost 7.0%, flowers and ornamental plants 4.9% and bed and table linen 3.0% more for consumers. Service prices increased by 1.0% on average, within which the repair and maintenance of vehicles became 2.5%, other public entertainment tickets 2.3%, recreation in the country 1.9% and personal care services 1.6% more expensive.
Consumer price indices, February 2023
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 100.8 | 125.4 |
| Harmonised index of consumer prices | 100.8 | 125.8 |
| Core inflation (original, seasonally unadjusted)a) | 101.1 | 125.2 |
| Consumer price index for pensioners | 100.8 | 126.9 |
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).