Prices 4.6% higher in December and 3.7% higher on average in 2024 than a year earlier
In December 2024, consumer prices were 4.6% higher on average than a year earlier and 0.5% higher than in the previous month. In 2024, prices were up by 3.7% on average compared to the previous year.
In 12 months, compared to December 2023:
A price increase of 5.4% was recorded for food, within which 36.2% for flour, 21.9% for eggs, 19.5% for milk, 17.3% for fruit and vegetable juices, 16.4% for butter, 13.7% for edible oil, 9.9% for chocolate and cocoa, 7.8% for meals at restaurants and 5.5% for non-alcoholic beverages. Within the product group, the price of pasta products decreased by 7.1%, that of other meat preparations by 3.4%, margarine prices by 3.0% and the price of sugar by 2.6%. Services became 6.8% more expensive, within which rents went up by 12.6%, the repair and maintenance of vehicles became 10.5%, motorway use, renting a motor vehicle and parking 10.4%, other public entertainment tickets 9.4%, the repair and maintenance of dwellings 8.9% and personal care services 8.7% more expensive, the maintenance costs of private houses increased by 8.4% and recreational services became 7.1% more expensive. Alcoholic beverage and tobacco prices rose by 4.3%, within which the price of tobacco by 4.5%. 0.5% less had to be paid for electricity, gas and other fuels, within which 0.4% less for natural and manufactured gas and 0.3% more for electricity. Consumer durables became 0.6% more expensive, within which jewellery cost 15.3%, new passenger cars 5.3% and living and dining room furniture 2.7% more and second-hand passenger cars 4.8% less for consumers. Pharmaceutical products became 3.1% and motor fuels 8.3% more expensive.
In one month, compared to November 2024:
Consumer prices were up by 0.5% on average. Food became 0.4% more expensive on average, within which eggs cost 10.7%, butter 6.9%, fruit and vegetable juices 4.4%, milk 3.6%, milk products 3.2% and edible oil 2.9% more and flour 4.4%, chocolate and cocoa 3.0%, other meat preparations 2.4%, pasta products 1.5% and sugar 0.8% less for consumers. Motor fuel prices increased by 2.2%. 1.7% more had to be paid on average for electricity, gas and other fuels, within which 3.3% more for natural and manufactured gas and 2.2% more for butane and propane gas (Press release). Service charges went up by 0.4% on average, within which rents became 2.0% higher.
In 2024 compared to previous year:
Consumer prices increased by 3.7% on average, within which the highest price increase of 8.9% was measured for services. A price rise of 2.8% was recorded for food, 4.4% for alcoholic beverages and tobacco, 4.2% for clothing and footwear and 1.7% for other goods, including motor fuels and lubricants. 4.6% less had to be paid for electricity, gas and other fuels and 0.9% less for consumer durables. Consumer prices were up by 3.7% on average among pensioner households.
Consumer price indices, December 2024 and year 2024
(%)
| Denomination | December 2024 | Year 2024 | |
|---|---|---|---|
| previous month = 100.0 | corresponding month of previous year = 100.0 | previous year = 100.0 | |
| Consumer price index | 100.5 | 104.6 | 103.7 |
| Harmonised index of consumer prices | 100.5 | 104.8 | 103.7 |
| Core inflation (original, seasonally unadjusted)a) | 100.5 | 104.7 | 104.6 |
| Consumer price index for pensioners | 100.5 | 104.5 | 103.7 |
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).