Prices
The development of prices influences the quantity of production and consumption, and their structure as well. Price statistics typically observe the temporal change in the price of goods put on the market, though there are spatial price indices (e.g. purchasing power parity), too. The consumer price index quantifies changes in consumer prices, differently, producer price indices observe price changes from the point of view of producers. There are also cost-based price indices (e.g. of agriculture, labour force), which show the development of production costs over time. External trade price indices provide information on the price development of goods exports and imports.
Key figures
Change in consumer prices
Indicator description
Average change in the prices of goods and services purchased by households for own use, compared to the same period of the previous year. The consumer price index less 100 equals the change in consumer prices.
Source of data:
Summary Tables (STADAT)
Last data for period: February 2023
Change in industrial producer prices
Indicator description
Average change in the producer prices of products produced by industrial producers and of the related provided services, compared to the same period of the previous year. The prices are basic prices, not including turnover tax, consumption tax and excise duty.
Source of data:
Summary Tables (STADAT)
Last data for period: January 2023
Changes in construction producer prices
Indicator description
Average change in the prices of construction activities performed in construction, compared to the same period of the previous year.
Source of data:
Summary Tables (STADAT)
Last data for period: Q4 2022
Terms of external trade in goods
Indicator description
The price index of goods exports divided by the price index of goods imports, multiplied by one hundred. If the value of the indicator is larger than 100, then the terms of trade improved, i.e. more import goods could be purchased for a unit of export goods (or less exports than earlier on had to be provided for a unit of imports). They show the change compared to the same period of the previous year.
Source of data:
Summary Tables (STADAT)
Last data for period: 2022
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Our WEEKLY MONITOR provides insights into trends in key areas through weekly, monthly and quarterly data from our interactive chart collection.
Most WEEKLY MONITOR charts can also be downloaded in image and data formats (PNG, SVG and CSV).
Prices increase by 25.4% in February compared to same month of previous year, Consumer prices, February 2023
Consumer prices were 25.4% higher on average in February 2023 than a year earlier. The highest price rises were measured for electricity, gas and other fuels as well as food over the last twelve months. In one month, consumer prices increased by 0.8% on average.
Industrial producer prices rise by 35.0% in January 2023 compared to one year earlier and by 0.8% compared to previous month, Industrial producer prices, January 2023
Industrial producer prices were 35.0% higher on average in January 2023 than one year earlier. Domestic output prices were up by 64.7% and non-domestic output prices by 20.5%. The faster growth in domestic output prices was due to the proportion of the energy industry, where a significant price increase occurred, being much larger in the domestic than in the non-domestic output. In addition to the steep rise in energy prices, the increase in base material prices and the weakening of the forint – over one year – also had a price-raising effect. Compared to the previous month, domestic output prices rose by 5.7% and non-domestic output prices were cut by 1.5%, so industrial producer prices as a whole were up by 0.8%.
Agricultural producer and input prices, quarters 1–3, 2022
Agricultural producer prices increased by 49% in quarters 1–3 of 2022, within which the price rise for crop products (54%) was higher than that for animals and animal products (39%). The similarly substantial, 46% increase in input prices was primarily owing to a 51% price rise for the components of intermediate consumption, while investment prices were up by 15%. The price increase was connected with disturbance in supplies, a rise in energy prices and the unfavourable weather. The value of the agricultural terms of trade was 102.4%.
Industrial producer prices rise mostly in Hungary
As an effect of steeply rising energy and raw material prices, industrial production became substantially more expensive in the European Union from the second half of 2021. Producer prices were 22% higher there on average in November 2022 than a year earlier. The prices increased mostly (by 36%) in Hungary in that month, which could be influenced by the weakening of the forint as well as by a significant growth in wage costs, since the earnings of people working in industry rose in Hungary at a rate well above the EU average.
Hungary, 2022 Q3
The economic performance of Hungary surpassed in the 1st–3rd quarters of 2022 the one year earlier level by 6.1%. Consumer prices year-on-year increase in the first ten months was 12.7%, producer prices, characteristically, grew in a much faster pace. Compared to the high base caused by the pandemic, the number of deaths decreased by 9.3%, the natural decrease of the population in January–September 2022 amounted to 35 thousand people, 17% fewer year-on-year.
Chicken prices break record again
The price of pigs for slaughter was cut after the peak in September 2022 (733 forints/kilogram), it was 645 forints per kilogram in November 2022, which was, however, even so a price rise of 80% compared to the price of 358 forints/kilogram in November of the previous year. Contrarily, the price of chickens for slaughter – which did not stop growing – was 494 forints per kilogram in November, which was a rise of 1.9% over a month.
Agricultural product prices rise to a lower extent in November 2022 compared to previous months
Agricultural product prices rose one-and-a-half-fold in November 2022 compared to the same period of the previous year, within which crop product prices became 44% and animal and animal product prices 64% higher. There was a lower rise in the price of all products except for fruits and animal products. The prices in January–November were nearly one and a half times as high as in the same period of the previous year.
The prices of services continue to increase at a high pace
The price hike of services is speeding up for more than a year: these were in the 3rd quarter of 2022 on average 13% more expensive year-on-year. All observed service prices – except telecommunication (–2.0%) – grew. Price increases in food and beverage serving services (22%), land transport services and transport services via pipelines (21%), warehousing and support services for transportation (15%) and real estate services (14%) continued to have the greatest impact on the average price changes of the 3rd quarter.
Statistical Yearbook of Hungary, 2021
The approximately 500 tables, graphs and maps and tens of thousands of data the Statistical Yearbook of Hungary contains give, for almost one and a half century, an overview of the social and economic processes of the country in the given year. Besides paying attention to the ever changing socio-economic environment and user demands we always strive to share new information: the health chapter broadened this year with indices regarding outpatient care, time series of healthcare expenses, life expectancy in good health and the number of Covid19 infected people.
Related themes
- Industry
- Construction
- External trade and balance of payments
- Housing
- Agriculture
- Tourism, catering
- Culture, sports
- International data
First releases |
Latest release | Next release |
---|---|---|
Consumer prices, February 2023 | 08/03/2023 | 12/04/2023 |
Industrial producer prices, January 2023 | 01/03/2023 | 31/03/2023 |
Publications |
Released |
---|---|
Housing prices, housing price index, Quarter 3 2022 | 07/03/2023 |
Agricultural producer and input prices, quarters 1–3, 2022 | 17/02/2023 |
Housing prices, housing price index, Quarter 2 2022 | 14/02/2023 |
Hungary, Quarter 3 2022 | 06/02/2023 |
Residential mortgages, 1st half 2022 | 17/01/2023 |
Regional Statistical Yearbook of Hungary, 2021 | 10/01/2023 |
Release and revision calendarPublication repertory