Drastic price rise may come in Hungary due to road toll hike

Hungarian road tolls will be in the TOP 3 highest in the EU from 2024. Experts believe the rising transport costs will lead to skyrocketing inflation, especially when it comes to food prices.

As we reported earlier, road tolls in Hungary will skyrocket. From 1 October, they will shoot up by 17.6%, and the system changes will mean another wave of price hikes from next January. The rise may reach 41.5% by next January. As a result, the Hungarian road tolls will be one of Europe’s highest, the Hungarian Road Transport Association (MKFE) said last week.

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According to the Hungarian Ministry of Construction and Transport, their only aim is to follow the rate of general inflation. However, MKFE believes the price rise will result in a 20% increase in transportation costs. MFKE’s spokesman, Tibor Árvay, said that such a decision would counteract the government’s objective to achieve a one-digit inflation rate by this year’s end.

Gábor Dittel, a transport association’s general secretary, added that all services and products will be affected by the transportation price increase. That may result in drastic price rises in many sectors, which will further boost inflation. Furthermore, the market share of Hungarian transportation companies will drop following the road toll rise, Infostart wrote.