Hungary is the 4th cheapest EU member

Since in 2018 prices became higher compared to 2017, Hungary ranked ‘only’ 4^th among the cheapest EU member nations, whereas in 2017 it was third.

Heti Világgazdaság reports that in 2018, Hungary was the fourth cheapest nation in the European Union, while in 2017 it ranked third. The top three are Bulgaria, Romania and Poland.

There was a 2.9 per cent rise in prices in 2018, compared to 2017 in Hungary. Inflation was higher only in Romania with 4.1 per cent and in Estonia, with 3.4 per cent. In the neighbouring countries, inflation was at 2.5 per cent in Slovakia, 2.1 per cent in Austria, 1.9 per cent in Slovenia and 1.6 per cent in Croatia.

Heti Világgazdaság notes that regarding the whole decade, Hungary has become much cheaper by 2017 than it was in 2010.

According to Eurostat’s statistics, foodstuff is only 14-15 per cent cheaper in Hungary than the EU average, while in the case of clothing and shoes, the difference is even smaller.

However, the average Hungarian salary and income are barely the third or fourth of the European average.

At the same time, students in Hungary have to pay half of the EU average for certain courses in the education sector.

featured image: Daily News Hungary

Source: hvg.hu