Good news: Sharp food price decreases in Hungary

The cost of living in Hungary has fallen noticeably since January. Food prices and utility bills have fallen substantially. However, price rises have not disappeared completely: washing and cleaning products have become more expensive, just like pet food. The latter is much more expensive than at the beginning of the year. Nonetheless, some food prices have gotten noticeably cheaper.

As we reported, in June, the Hungarian Central Statistical Office (KSH) recorded inflation at 20.1 percent. That is still well above the psychological limit. However, price growth slowed further compared to May, to 0.3 percent. The good news is that food prices fell further in June, by an average of 0.4 percent compared to May. Year-on-year, food prices are 29.3 percent more expensive than in June last year.

The price of food, which accounts for the largest share of Hungarian household expenditure, is falling. The decrease is helped by mandatory discounts in shops and the continued decline in world prices, as well as the normalisation of energy prices, napi.hu reports. Grocery shopping cost the most in January, with food prices in all categories already down noticeably in June compared to the first month of the year.

Trappista cheese prices are 30 percent lower

The biggest drop in prices was seen for dairy products. These, on average, cost 10 percent less than in the first month of the year. This is due to the fact that the price of raw milk has fallen sharply and significantly.

The biggest price drop is definitely for Trappista cheese: it is now 29.7 percent cheaper than in January. There was also a significant drop in the price of 2.8 percent ESL milk, down 10.1 percent in five months. The price of 1.5 percent ESL milk also fell, down 7 percent since January.