Consumer prices increase by 3.6% on average compared to same month of previous year
Consumer prices were 3.6% higher on average in March 2024 than a year earlier. Compared to February, prices were up by 0.8% on average, telephone and internet services becoming 10.8% more expensive.
In 12 months, compared to March 2023:
A price increase of 0.7% was recorded for food, within which the highest ones for the following: 30.9% for sugar, 11.6% for chocolate and cocoa, 10.4% for buffet products, 9.1% for pork and 7.5% for non-alcoholic beverages. Within the product group, flour prices decreased by 20.3%, the price of eggs by 19.7%, that of pasta products by 13.1%, cheese prices by 13.0%, the price of milk by 11.0% and that of bread by 10.5%. Electricity, gas and other fuels became 3.1% cheaper, within which 6.9% less had to be paid for natural and manufactured gas and 3.2% less for electricity. Service prices went up by 9.9%, within which rents grew by 14.1% and motorway use, renting a motor vehicle and parking became 10.7%, the repair and maintenance of vehicles 10.5%, other public entertainment tickets 8.7% and recreational services 6.8% more expensive and travel to work or school 21.7% cheaper. Alcoholic beverages and tobacco prices rose by 4.4%, within which the price of tobacco by 4.7%. The price of detergents increased by 8.4%, that of pharmaceutical products by 6.8% and toilet articles prices by 4.6%. Consumers paid 1.8% less for consumer durables, within which the price of second-hand passenger cars was cut by 9.3% and that of kitchen and other furniture went up by 6.0%, living and dining room furniture prices by 3.0%, the price of new passenger cars by 2.5% and that of heating and cooking appliances by 1.9%. Motor fuels became 2.3% more expensive.
In one month, compared to February 2024:
Consumer prices rose by 0.8% on average. Food became 0.1% more expensive on average, within which seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits) cost 0.7%, poultry meat 0.5% and pork 0.4% more and pasta products 1.9%, sugar 1.7%, eggs 1.3%, milk products 1.0%, coffee 0.8%, butter 0.6% and bread 0.4% less for consumers. 2.4% more was paid for electricity, gas and other fuels, within which 5.3% more for natural and manufactured gas (Press release). Services became 1.8%, within which TV subscriptions 11.4%, telephone and internet services 10.8%, the repair and maintenance of dwellings 1.1% and the repair and maintenance of vehicles 0.9% more expensive. Motor fuel prices increased by 2.1%.
Consumer price indices, March 2024
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 100.8 | 103.6 |
| Harmonised index of consumer prices | 100.8 | 103.6 |
| Core inflation (original, seasonally unadjusted)a) | 100.8 | 104.4 |
| Consumer price index for pensioners | 100.8 | 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).