From December 8, the price of petrol will fall even further.Continue reading
In November 2023 consumer prices were 7.9% higher on average than a year earlier. Compared with October, prices generally remained stable. The inflation rate at the beginning of the year was 17.6 percent compared to 2022.
Food prices rose by 7.1% in a year, with sugar experiencing a significant increase of 49.7%. Household energy became 18.1% cheaper, including a 36.2% reduction in piped gas prices, a 3.5% decrease in electricity costs, a 0.8% rise in firewood prices, and a 1.9% increase in cylinder gas costs. The price of durable consumer goods fell by 0.4%, with a notable 9.5% decline in the cost of second-hand cars, while services became 12.6% more expensive.
Compared to October, consumer prices, on average, remained unchanged. Food prices increased by 0.5% on average, primarily due to a 6.6% rise in the price of seasonal products such as potatoes, fresh vegetables, and domestic and exotic fruits. Excluding this group, food prices remained unchanged on average.
Fuel prices experienced a 3.6% decrease in November.
Energy prices were 1.2% lower than in October, including a 2.5% reduction in piped gas prices and a 0.6% decrease in firewood costs.
Recent inflation slowdown positively impacts the economy, preserving real wages in Hungary despite a European decline. With the dynamic deceleration of domestic inflation, real wages also started to show
positive trends, with real net earnings rising by 1.7 percent compared to the same month a year earlier.
Via hirado.hu and oeconomus.hu; Featured Image: Pixabay
