Change in consumer prices in the European Union, February 2025

Released: 21 March 2025

Harmonised index of consumer prices (HICP)

According to the harmonised index of consumer prices, ensuring the comparability of inflation in EU member countries, consumer prices were 2.7% higher on average in the European Union in February 2025 than in the same period of the previous year. Within the EU, inflation was highest, of between 5.1% and 5.7%, in Hungary, Romania and Estonia. Among Visegrád countries, the price rises in Poland (4.3%) and Slovakia (4.1%) can also be considered high, and that in Czechia was around the EU average, at 2.8%. The lowest inflation within the EU, at 0.9%, was measured for France.

Compared to the previous month, consumer prices were up by 0.4% in the EU as a whole and by 0.7% in Hungary. In this respect, the price increase in Hungary (together with the same rates of price rises in Romania and Latvia) was the eight highest in the order of member countries. Prices in the other three Visegrád countries increased at rates lower than or equal to the EU average (by 0.2–0.4%) over one month.

National consumer price index (CPI)

According to national consumer price indices, too, published on the websites of national statistical offices – and suitable for international comparisons only to a limited extent –, consumer prices went up the most (by 5.6%) in Hungary in February 2025 compared to a year earlier. Estonia, Romania and Poland followed us in the order, the average household consumer basket becoming 4.9–5.3% more expensive in these countries.

In Hungary, food cost 7.1% more on average than in February 2024. (Food inflation was last as high in November 2023.) Within the product group, flour became the most expensive (by 44%), in addition, edible oil, egg and milk prices increased at rates above 20% as well. 10–19% more was to be paid than one year earlier for butter, coffee, fruit and vegetable juices, chocolate and cocoa as well as milk products. The consumer price of electricity, gas and other fuels lessened by 0.2% on average, first of all due to a 4.9% decrease in firewood prices, the price of natural and manufactured gas not changing in effect (+0.1%) and electricity prices being up by 0.6%. Motor fuels became 3.8%, alcoholic beverages and tobacco 5.0% and consumer durables 1.6% more expensive. Service charges rose by 9.2% in total compared to a year earlier, within which the charges for postal services by 17%, those for telephone and internet subscriptions by 15% and rents by 12%.

The National Bank of Hungary forecast an inflation of 3.3–4.1% for 2025 in its Inflation Report for December. The rate of consumer price rise in the European Union may be 2.4% in 2025 according to the expectations of the European Commission, which may help the domestic inflation lessen in the long term.