Consumer prices increase by 7.9% on average compared to same month of previous year and motor fuel prices go down compared to October
Consumer prices were 7.9% higher on average in November 2023 than a year earlier. Compared to October, the prices were unchanged on average, however, motor fuels became 3.6% cheaper.
In 12 months, compared to November 2022:
A price rise of 7.1% was recorded for food, within which the highest ones for the following: 49.7% for sugar, 19.1% for chocolate and cocoa, 17.9% for non-alcoholic beverages and 17.0% for buffet products. Within the product group, egg prices decreased by 24.4%, the price of flour by 15.8%, that of cheese by 10.4%, butter prices by 9.9% and the price of pasta products by 7.4%. Electricity, gas and other fuels became 18.1% cheaper, within which 36.2% less had to be paid for natural and manufactured gas and 3.5% less for electricity and 0.8% more for firewood and 1.9% more for butane and propane gas. Motor fuel prices went up by 25.4%. Services became 12.6% more expensive, within which motorway use, renting a car and parking cost 20.7%, recreational services 15.8%, other public entertainment tickets 14.1% and the repair and maintenance of vehicles 13.8% more and travel to work or school 21.7% less for consumers. Alcoholic beverages and tobacco prices were up by 10.6%, within which the price of alcoholic beverages by 12.1%. Pet food prices became 24.3%, the price of detergents 15.2%, that of toilet articles 7.7% and dwelling repair and maintenance goods prices 3.3% higher. Consumers paid 0.4% less for consumer durables, within which the price of second-hand passenger cars was cut by 9.5% and kitchen and other furniture prices increased by 9.4%, the price of heating and cooking appliances by 4.3%, that of living and dining room furniture by 3.7% and new passenger car prices by 3.3%.
In one month, compared to October 2023:
Consumer prices were unchanged on average. Food became 0.5% more expensive on average, dominantly owing to a 6.6% rise in the price of seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits). Food prices excluding this group were unchanged on average. Poultry meat cost 2.0%, edible oil 1.9%, butter 1.6% and sugar 0.8% less for consumers. Motor fuel prices were reduced by 3.6%. Clothing and footwear became 1.2% more expensive. Consumers paid 1.2% less for electricity, gas and other fuels, within which 2.5% less for natural and manufactured gas and 0.6% less for firewood. (Press release)
Consumer price indices, November 2023
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 100.0 | 107.9 |
| Harmonised index of consumer prices | 100.0 | 107.7 |
| Core inflation (original, seasonally unadjusted)a) | 100.3 | 109.1 |
| Consumer price index for pensioners | 100.1 | 107.1 |
a) The Hungarian Central Statistical Office applies a new methodology for the computation of core inflation from April 2021, the indicator no more including 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).