Consumer prices increase by 3.7% on average compared to same month of previous year
Consumer prices were 3.7% higher on average in February 2024 than a year earlier. Compared to January, prices were up by 0.7% on average, motor fuels becoming 6.7% more expensive.
In 12 months, compared to February 2023:
A price increase of 2.2% was recorded for food, within which the highest ones for the following: 32.8% for sugar, 14.4% for chocolate and cocoa, 12.7% for non-alcoholic beverages, 12.2% for buffet products and 9.4% for pork. Within the product group, flour prices decreased by 19.6%, the price of eggs by 19.1%, that of cheese by 15.6%, butter prices by 15.3%, the price of pasta products by 13.4% and that of milk by 11.2%. Electricity, gas and other fuels became 9.0% cheaper, within which 19.3% less had to be paid for natural and manufactured gas, 3.3% less for electricity and 1.9% less for firewood. Service prices went up by 10.0%, within which rents grew by 14.4% and the repair and maintenance of vehicles became 10.8%, motorway use, renting a motor vehicle and parking also 10.8%, other public entertainment tickets 9.5% and recreational services 9.7% more expensive and travel to work or school 21.7% cheaper. Alcoholic beverages and tobacco prices rose by 5.3%, within which the price of alcoholic beverages by 5.9%. Pet food prices were up by 11.9%, the price of detergents by 11.0%, that of pharmaceutical products by 7.3% and toilet articles prices by 4.7%. Consumers paid 2.0% less for consumer durables, within which the price of second-hand passenger cars was cut by 10.5% and that of kitchen and other furniture increased by 6.9%, heating and cooking appliances prices by 2.3%, the price of living and dining room furniture by 2.1% and that of new passenger cars by 1.3%. Motor fuels became 2.4% cheaper.
In one month, compared to January 2024:
Consumer prices rose by 0.7% on average. Food became 0.2% more expensive on average, within which seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits) cost 1.1%, chocolate and cocoa 1.5%, non-alcoholic beverages 1.1%, buffet products 0.7%, rolls 0.6% and bread 0.5% more and sugar 3.4%, coffee 2.0%, eggs 1.5%, poultry meat 1.3%, butter and pork both 1.2% and milk products 1.1% less for consumers. Electricity, gas and other fuels became 0.6% more expensive, within which 1.7% more was paid for natural and manufactured gas and 2.2% less for firewood (Press release). Services became 0.6%, within which the repair and maintenance of vehicles 1.5% more expensive, rents increased by 1.0% and the repair and maintenance of dwellings also became 1.0% more expensive. Motor fuel prices went up by 6.7%.
Consumer price indices, February 2024
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 100.7 | 103.7 |
| Harmonised index of consumer prices | 100.7 | 103.6 |
| Core inflation (original, seasonally unadjusted)a) | 100.2 | 105.1 |
| Consumer price index for pensioners | 100.6 | 103.6 |
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).