Consumer prices increase by 3.2% on average compared to same month of previous year
Consumer prices were 3.2% higher on average in October 2024 than a year earlier. Over one month, they rose by 0.1% on average, within which motor fuels became 0.8% more expensive.
In 12 months, compared to October 2023:
A price increase of 4.5% was recorded for food, within which 38.9% for flour, 16.8% for milk, 12.1% for fruit and vegetable juices, 9.9% for edible oil, 9.8% for chocolate and cocoa, 7.9% for butter, 7.6% for meals at restaurants and 6.2% for meals at schools. Within the product group, the price of pasta products decreased by 7.3%, that of sugar by 2.9%, margarine prices by 2.7% and the price of eggs by 2.1%. Services became 7.2%, within which motorway use, renting a motor vehicle and parking 10.6% more expensive, rents were up by 10.4%, the repair and maintenance of vehicles became 9.7%, personal care services 9.1%, other public entertainment tickets 8.9% and the repair and maintenance of dwellings 8.8% more expensive, the maintenance costs of private houses grew by 8.4% and recreational services became 5.8% more expensive. Alcoholic beverage and tobacco prices rose by 3.8%, within which the price of alcoholic beverages by 4.0%. Electricity, gas and other fuels became 4.8%, within which natural and manufactured gas 9.5% and electricity 0.7% cheaper. Consumers paid 0.3% less for consumer durables, within which the price of second-hand passenger cars was cut by 7.5% and that of jewellery increased by 11.4%, new passenger car prices by 5.9% and the prices of living and dining room furniture and of kitchen and other furniture both by 2.4%. Pharmaceutical products became 3.6% more expensive and motor fuels 5.2% cheaper.
In one month, compared to September 2024:
Consumer prices were up by 0.1% on average. Food became 0.7% more expensive on average, within which both flour and seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits in total) cost 3.5%, butter 3.4%, cheese 3.2%, edible oil 2.7%, milk 2.1%, eggs 1.6%, milk products 1.4% and poultry meat 1.2% more and pasta products 2.3%, other meat preparations 1.2%, margarine 1.1% and sugar 0.5% less for consumers. Clothing and footwear became 3.0% more expensive owing to seasonal changes. Motor fuel prices increased by 0.8%. The price of electricity, gas and other fuels was unchanged on average, within which butane and propane gas became 0.5% and electricity 0.2% more expensive and firewood 1.1% and natural and manufactured gas 0.1% cheaper (Press release). Service prices became 0.9% lower on average, within which 6.8% less had to be paid for telephone and internet services and 1.1% less for recreational services.
Consumer price indices, October 2024
(%)
| Denomination | Previous month = 100.0 | Corresponding month of previous year = 100.0 |
|---|---|---|
| Consumer price index | 100.1 | 103.2 |
| Harmonised index of consumer prices | 100.1 | 103.4 |
| Core inflation (original, seasonally unadjusted)a) | 100.0 | 104.5 |
| Consumer price index for pensioners | 100.0 | 103.2 |
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 was revised back to January 1995. The seasonally adjusted index is available in Table 1.2.1.7 of Summary tables (Stadat).