Consumer prices increase by 3.7% on average compared to same month of previous year
Consumer prices were 3.7% higher on average in June 2024 than a year earlier. Compared to May, prices were unchanged on average, and food prices decreased by 0.3%.
In 12 months, compared to June 2023:
A price increase of 1.1% was recorded for food, within which 27.4% for sugar, 9.2% for buffet products, 9.1% for chocolate and cocoa, 8.7% for fruit and vegetable juices, 8.1% for meals at restaurants, 7.8% for pork and 5.6% for non-alcoholic beverages. Within the product group, egg prices decreased by 22.3%, the price of flour by 19.2%, that of milk products by 10.2%, pasta product prices by 10.0%, the price of bread by 8.2%, that of milk by 6.2% and poultry meat prices by 5.5%. Services became 9.7% more expensive, within which rents were up by 13.1% and personal care services became 10.7%, motorway use, renting a motor vehicle and parking 10.5%, the repair and maintenance of vehicles 10.1%, the repair and maintenance of dwellings 9.8%, other public entertainment tickets 8.2% and recreational services 3.0% more expensive. Alcoholic beverages and tobacco prices rose by 4.2%, within which the price of tobacco by 4.7%. The price of pharmaceutical products went up by 6.1% and that of toilet articles by 2.1%. Clothing and footwear became 4.1% more expensive. Electricity, gas and other fuels became 2.7%, within which natural and manufactured gas 5.2% and electricity 2.4% cheaper. Consumers paid 1.3% less for consumer durables, within which the price of second-hand passenger cars was cut by 8.8% and that of new passenger cars increased by 5.7%, living and dining room furniture prices by 2.1%, the price of kitchen and other furniture by 1.9% and that of heating and cooking appliances by 0.8%. Motor fuels became 3.2% more expensive.
In one month, compared to May 2024:
Consumer prices were unchanged on average. Food prices lessened by 0.3% on average, dominantly owing to a 4.4% decrease in the price of seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits in total). Food prices excluding this group went up by 0.2% on average. In addition to the above, sugar prices were reduced by 2.1%, the price of eggs by 1.7% and that of other meat preparations by 1.1%, while coffee and chocolate and cocoa prices both increased by 1.2%, the price of buffet products by 0.9%, that of poultry meat by 0.6% and milk prices by 0.3%. The highest price increase of 1.0% was measured for alcoholic beverages and tobacco as well as (also of 1.0%) for services, within which latter 4.4% for recreational services, an increase of 1.4% for maintenance costs at private houses and of 1.1% for rents. 2.3% less needed to be paid for electricity, gas and other fuels, within which 4.6% less for natural and manufactured gas (Press release). Motor fuel prices were down by 3.4%.
Consumer price indices, June 2024
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 100.0 | 103.7 |
| Harmonised index of consumer prices | 100.0 | 103.6 |
| Core inflation (original, seasonally unadjusted)a) | 100.5 | 104.1 |
| Consumer price index for pensioners | 99.8 | 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. The seasonally adjusted index is available in Table 1.2.1.7 of Summary tables (Stadat).