Are eateries and ice cream shops at Lake Balaton trying their best to keep prices low?

As summer heats up, ice cream lovers may find their favourite treat becoming more expensive by Lake Balaton. Analysts at the Oeconomus Economic Research Foundation have indicated that ice cream prices are projected to rise by 10-15 percent this year compared to last. Despite these increases, many vendors are striving to keep their prices within a range acceptable to their customers.

Ingredients still face a price hike

As Economx reports, Bence Jóna, an analyst at the Oeconomus Economic Research Foundation, highlighted significant price increases for sugar and cocoa in April, with year-on-year rises of 30.4% and 9.2%, respectively. While global food prices started to decline from the second half of 2022 onwards, sugar prices have only recently started to moderate.

This trend is mirrored in Hungary, where flour and dairy product prices have decreased, but sugar continues to rise sharply. The global market’s downward trend cannot be felt in Hungary yet, thus making it impossible for domestic ice cream makers to keep their prices unchanged.

Trying to keep prices reasonable

Besides changes in raw material prices, other factors such as higher operating costs (overheads, rent) and increasing wages due to labour shortages could lead to price hikes in ice cream shops and beach food eateries. Although these pressures have slightly eased compared to 2023, businesses often cannot pass on these costs to customers due to price sensitivity. Thus, beyond a certain price point, demand would significantly drop. Experts advise business owners to raise their prices reasonably to avoid scaring away customers.

Ice cream and lángos prices at Lake Balaton

Last year, the price of a scoop of ice cream in Hungary ranged between HUF 440 (EUR 1.13) and HUF 520 (EUR 1.33), but this year it is expected to rise by 10-15 percent, reaching HUF 500-600 (EUR 1.28-1.54), and HUF 600-650 (EUR 1.54-1.66) in more touristy locations.

Photo: Daily News Hungary

Another popular Hungarian beach delicacy, lángos, also faces a price hike. This year, prices are expected to rise by 8-10 percent, which is not so bad compared to last year’s 20-40 percent. While the cost of a lángos is heavily based on the toppings, we can safely say that we cannot find a plain lángos for under HUF 1000 (EUR 2.56).

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Are Hungarian prices considered low?

While ice cream in Hungary is predicted to be 10-15 percent more expensive this season at Lake Balaton, the prices are still considered low in an international context. A recent survey shows that Turkish beaches offer the cheapest ice cream, for about HUF 44 (EUR 0.11) per scoop. French beaches are at the other end of the scale with one scoop for approximately HUF 1800 (EUR 4.61).

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