Prices Have Started to Fall on a Monthly Basis

Inflation in Hungary has fallen on a monthly basis. Consumer prices fell by 0.1% from April to May. The data was dragged down by energy and fuel prices. On an annual basis, the Hungarian Central Statistical Office (KSH) measured inflation at 4.4%, not much higher than the central bank’s target level, Világgazdaság reports.

Compared to April, prices fell by an average of 0.1% in May, while fuel prices fell by 4.4%.

On an annual basis, consumer prices were on average 4% higher.

Food prices rose by 1% annually, including:

• sugar by 29.6%
• chocolate and cocoa by 9.8%
• fruit and vegetable juice by 9.5%
• pork by 8.6%
• restaurant meals by 8.1%
• non-alcoholic beverages by 5.6%.

Within the group, the price of eggs fell by 22%, flour by 19.6%, dairy by 11.6%, dry pasta by 10.6%, milk and bread by 9% each, cheese by 7.4%, and poultry by 6%.

Services rose by 9.5%, including:

• communications services by 14.1%
• rents by 12.8%
• personal care services by 10.5%
• vehicle repair and maintenance by 10.3%
• tolls, vehicle rental, parking by 9.8%
• housing repair and maintenance by 9.7%
• sports and museum admissions by 8.2%
• holiday services by 5.3%.

Prices of alcoholic beverages and tobacco products rose by 3.5%, including tobacco by 3.8%. The price of medicines and pharmaceuticals rose by 6.4%, washing and cleaning products by 2.7%, and personal care products by 1.8%.

Household energy was 2.4% cheaper, including 4.7% for gas and 2.9% for electricity. The price of durable consumer goods fell by 1.7%, with used cars falling by 9.6%, new cars by 4.8%, kitchen and other furniture by 2.5%, heating and cooking equipment by 2.4%, and household furniture by 1.7%. Vehicle fuels rose by 9.2%.

Consumer prices, however, fell by 0.1 percent on average on a monthly basis.

Food prices rose by 0.1% on average, including:

• dry pasta: 1.6%
• fruit and vegetable juice: 1.3%
• bakery products: 0.8%
• Parisian and sausages: 0.7%
• chocolate and cocoa: 0.6%.

Within the food category, the price of some products fell:

• Eggs rose by 1.8%
• cooking oil by 0.8%
• milk by 0.7%
• coffee by 0.5%.

The largest increases, of 0.9% were in services, including domestic holidays up 3.4%, condominium common charges up 1.0%, and vehicle repair and maintenance up 0.9%.

Household energy, however, was 0.9% lower, including 1.7% for gas. Vehicle fuel prices fell by 4.4%.

Via Világgazdaság, Featured image: Pexels