Consumer prices increase by 3.4% on average compared to same month of previous year
Consumer prices were 3.4% higher on average in August 2024 than a year earlier and were unchanged on average compared to July.
In 12 months, compared to August 2023:
A price increase of 2.4% was recorded for food, within which 27.7% for flour, 10.6% for chocolate and cocoa, 8.0% for meals at restaurants, 6.7% for fruit and vegetable juices, 5.5% for edible oil, 4.8% for milk, 4.4% for non-alcoholic beverages and 3.4% for pork. Within the product group, the price of pasta products decreased by 8.1%, that of eggs by 7.9%, milk product prices by 5.7%, the price of sugar by 4.6% and that of bread by 1.7%. Services became 9.5% more expensive, within which rents were up by 10.6% and personal care services became 10.6%, motorway use, renting a motor vehicle and parking 10.5%, the repair and maintenance of vehicles 9.6%, other public entertainment tickets 8.8%, the repair and maintenance of dwellings 8.5% and recreational services 6.2% more expensive. Clothing and footwear prices rose by 4.5% and the price of alcoholic beverages and tobacco by 3.9%, within which latter that of tobacco by 3.8%. Electricity, gas and other fuels became 4.3%, within which natural and manufactured gas 9.4% and electricity 1.7% cheaper. Consumers paid 0.2% less for consumer durables, within which the price of second-hand passenger cars was cut by 6.7% and that of jewellery increased by 9.2%, new passenger car prices by 6.6%, the price of living and dining room furniture by 2.3% and that of kitchen and other furniture by 1.7%. Pharmaceutical products became 5.9% more expensive and motor fuels 2.9% cheaper.
In one month, compared to July 2024:
Consumer prices were unchanged on average. Food prices were unchanged as well, within which butter cost 2.3%, rolls 1.9%, coffee 1.8%, milk products 0.6% and milk 0.5% more and eggs 2.3%, pasta products 1.7%, other meat preparations 1.4% and seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits in total) 1.2% less for consumers. Services became 0.4%, within which recreational services 3.4% more expensive and rents went up by 0.9%. Consumers paid 1.3% less for clothing and footwear and 0.1% less for electricity, gas and other fuels, within which latter natural and manufactured gas became 0.1% cheaper, too (Press release). Motor fuel prices decreased by 0.8%.
Consumer price indices, August 2024
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 100.0 | 103.4 |
| Harmonised index of consumer prices | 100.1 | 103.4 |
| Core inflation (original, seasonally unadjusted)a) | 100.2 | 104.6 |
| Consumer price index for pensioners | 100.0 | 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).