Consumer prices increase by 4.0% on average compared to same month of previous year
Consumer prices were 4.0% higher on average in May 2024 than a year earlier. Compared to April, prices decreased by 0.1% on average, motor fuel prices falling by 4.4%.
In 12 months, compared to May 2023:
A price increase of 1.0% was recorded for food, within which 29.6% for sugar, 9.8% for chocolate and cocoa, 9.5% for fruit and vegetable juices, 8.8% for buffet products, 8.6% for pork, 8.1% for meals at restaurants and 5.6% for non-alcoholic beverages. Within the product group, egg prices decreased by 22.0%, the price of flour by 19.6%, that of milk products by 11.6%, pasta product prices by 10.6%, the prices of milk and bread by 9.0% each, that of cheese by 7.4% and poultry meat prices by 6.0%. Services became 9.5%, within which telecommunications services 14.1% more expensive, rents were up by 12.8% and personal care services became 10.5%, the repair and maintenance of vehicles 10.3%, motorway use, renting a motor vehicle and parking 9.8%, the repair and maintenance of dwellings 9.7%, other public entertainment tickets 8.2% and recreational services 5.3% more expensive. Alcoholic beverages and tobacco prices rose by 3.5%, within which the price of tobacco by 3.8%. The price of pharmaceutical products went up by 6.4%, that of detergents by 2.7% and toilet article prices by 1.8%. Electricity, gas and other fuels became 2.4%, within which natural and manufactured gas 4.7% and electricity 2.9% cheaper. Consumers paid 1.7% less for consumer durables, within which the price of second-hand passenger cars was cut by 9.6% and that of new passenger cars increased by 4.8%, kitchen and other furniture prices by 2.5%, the price of heating and cooking appliances by 2.4% and that of living and dining room furniture by 1.7%. Motor fuels became 9.2% more expensive.
In one month, compared to April 2024:
Consumer prices decreased by 0.1% on average. Food became 0.1% more expensive on average, within which pasta products cost 1.6%, fruit and vegetable juices 1.3%, rolls 0.8%, other meat preparations 0.7% and chocolate and cocoa 0.6% more and eggs 1.8%, edible oil 0.8%, milk 0.7% and coffee 0.5% less for consumers. The highest price increase of 0.9% was measured for services, within which the price of recreational services in the country was up by 3.4%, maintenance cost at private houses by 1.0% and charges for the repair and maintenance of vehicles by 0.9%. 0.9% less needed to be paid for electricity, gas and other fuels, within which 1.7% less for natural and manufactured gas (Press release). Motor fuel prices fell by 4.4%.
Consumer price indices, May 2024
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 99.9 | 104.0 |
| Harmonised index of consumer prices | 100.0 | 103.9 |
| Core inflation (original, seasonally unadjusted)a) | 100.5 | 104.0 |
| Consumer price index for pensioners | 100.0 | 103.9 |
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. The seasonally adjusted index is available in Table 1.2.1.7 of Summary tables (Stadat).