Published on: 8 September 2023

Consumer prices increase by 16.4% on average compared to same month of previous year, and prices of electricity, gas and other fuels as well as motor fuels rise significantly

Consumer prices were 16.4% higher on average in August 2023 than a year earlier. The prices of electricity, gas and other fuels as well as motor fuels rose significantly over the last twelve months. In one month, consumer prices increased by 0.7% on average, within which clothing and footwear cost 1.6% less for consumers.

In 12 months, compared to August 2022:

A price rise of 19.5% was recorded for food, within which the highest ones for the following: 67.9% for sugar, 29.6% for buffet products, 25.8% for chocolate and coca, 20.1% for rolls and 19.7% for other meat preparations. Within the product group, flour prices decreased by 10.4%. Electricity, gas and other fuels became 34.7%, within which natural and manufactured gas 47.1%, electricity 25.3% and butane and propane gas 25.2% more expensive. Motor fuel prices went up by 31.1%. Services cost 13.2%, within which motorway use, renting a car and parking 24.6%, other public entertainment tickets 20.4%, the repair and maintenance of vehicles 19.4%, recreational services 18.1%, the repair and maintenance of dwellings 16.2% and a taxi 16.1% more for consumers. Alcoholic beverage and tobacco prices were up by 12.7% on average, within which alcoholic beverage prices by 16.4%. Consumers paid 2.3% more for consumer durables, within which 11.2% more for kitchen and other furniture, 9.5% more for heating and cooking appliances, 6.9% more for new passenger cars and 6.1% more for living and dining room furniture, while 8.0% less for second-hand passenger cars. Pet food prices became 34.8%, the price of detergents 30.2%, that of toilet articles 18.3% and household repair and maintenance goods prices 8.4% higher.

In one month, compared to July 2023:

Consumer prices were up by 0.7% on average. Food became 0.3% more expensive on average, within which sugar cost 54.6%, pork 7.3%, poultry meat 2.5%, buffet products 2.3%, edible oil 1.5% and chocolate and cocoa 1.0% more for consumers, while flour became 11.5%, eggs 9.5%, seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits altogether) 5.0%, butter 4.4%, bread 2.3% and milk products 1.9% cheaper. Motor fuel prices rose by 8.2%. _Consumers paid 1.6% less for clothing and footwear and 0.3% less for electricity, gas and other fuels, within which latter 0.6% less for electricity, while natural and manufactured gas prices were unchanged (Press release).

Consumer price indices, August 2023


Denomination Previous month = 100.0 Corresponding month of previous year = 100.0
Consumer price index100.7116.4
Harmonised index of consumer prices100.8114.2
Core inflation (original, seasonally unadjusted)a)100.2115.2
Consumer price index for pensioners100.5117.2

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 were revised back to January 1995. Seasonally adjusted indices are available in Table of Summary tables (Stadat).