Prices increase by 5.5% in December and by 17.6% on average in 2023
In December 2023, consumer prices were 5.5% higher on average than a year earlier and decreased by 0.3% on average compared to November. In 2023, consumer prices were up by 17.6% on average compared to the previous year.
In 12 months, compared to December 2022:
A price rise of 4.8% was recorded for food, within which the highest ones for the following: 42.1% for sugar, 17.2% for chocolate and cocoa, 16.1% for non-alcoholic beverages and 14.1% for coffee. Within the product group, egg prices decreased by 18.1%, the price of flour by 17.8%, that of cheese by 15.5%, butter prices by 14.5%, the price of pasta products by 11.0% and that of milk by 10.3%. Electricity, gas and other fuels became 13.9% cheaper, within which 29.6% less had to be paid for natural and manufactured gas and 3.5% less for electricity and 0.6% more for firewood and 0.4% more for butane and propane gas. Services became 12.4% more expensive, within which motorway use, renting a car and parking cost 20.5%, the repair and maintenance of vehicles 13.3% and recreational services and other public entertainment tickets both 12.0% more and travel to work or school 21.7% less for consumers. Alcoholic beverages and tobacco prices were up by 10.3%, within which the price of alcoholic beverages by 10.8%. Pet food prices became 22.6%, the price of detergents 13.5%, that of pharmaceutical products 7.9% and toilet article prices 6.7% higher. Consumers paid 1.0% less for consumer durables, within which the price of second-hand passenger cars was cut by 10.3% and kitchen and other furniture prices increased by 7.0%, the price of heating and cooking appliances by 3.8%, that of living and dining room furniture by 3.2% and new passenger car prices by 2.3%. Motor fuel prices became 4.2% lower.
In one month, compared to November 2023:
Consumer prices decreased by 0.3% on average. Food prices lessened by 0.1% on average, within which sugar cost 4.1%, flour 2.3%, poultry meat 1.7%, margarine 1.3% and cheese 1.1% less and fresh vegetables 11.1%, milk 1.0% and butter 0.8% more for consumers. Consumers paid 1.1% less for electricity, gas and other fuels, within which 2.8% less for natural and manufactured gas and 0.3% more for firewood (Press release). Motor fuel prices were reduced by 5.0%.
In 2023 compared to previous year:
Consumer prices were up by 17.6% on average, within which the highest price increase of 25.9% was measured for food. A price rise of 22.1% was recorded for electricity, gas and other fuels, 18.6% for other goods, including motor fuels and lubricants, 15.4% for alcoholic beverages and tobacco, 13.2% for services, 8.3% for clothing and footwear and 5.6% for consumer durables. Consumer prices increased by 18.3% on average among pensioner households.
Consumer price indices, December 2023 and year 2023
(%)
| Denomination | December 2023 | Year 2023 | |
|---|---|---|---|
| previous month = 100.0 | corresponding month of previous year = 100.0 | previous year = 100.0 | |
| Consumer price index | 99.7 | 105.5 | 117.6 |
| Harmonised index of consumer prices | 99.7 | 105.5 | 117.0 |
| Core inflation (original, seasonally unadjusted)a) | 100.2 | 107.6 | 118.2 |
| Consumer price index for pensioners | 99.7 | 105.3 | 118.3 |
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).