Food prices rising fastest in Hungary?

There is good reason to believe that bread will soon become a luxury item in the country: we have seen the biggest increase in the price of bread in the past year. Hungary shows the highest price increases for several food products.

A survey about the prices of foodstuffs

The prices of seven basic foodstuffs were compared in Privátbankár.hu’s Árkosár (Price Basket) survey based on Eurostat data. It was found that the price of bread, for example, had already risen by more than 12 percent in Hungary last November.

And in May, we reached the point where, in a year, we have to pay 38.4 percent more for the same bread in Hungary than last year. Looking at prices in neighbouring countries, the highest price changes were recorded in Bulgaria and Hungary, where prices rose by almost 40 percent.

As Blikk.hu writes, such a price rise cannot be explained solely by the Russian-Ukrainian war. However, it is not surprising if we consider the fact that it was already known in January that the mills had raised the price of flour by 10-15 percent, which meant that the price of bread was bound to rise.

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Egg, cheese, butter

Egg prices have also increased significantly. Eurostat, based on data from the Central Statistical Office (KSH), has forecast an increase of almost 30 percent for May, with the only countries in the region with higher prices than Hungary being the Czech Republic and Bulgaria.