Another wave of brutal price rises to come to Hungary: will this ever end?
A significant proportion of domestic business leaders expect price rises in Hungary. Most firms are forecasting price increases in line with inflation.
In April 2023, a total of 2,061 heads of domestic enterprises reported on the expected development of domestic sales prices and export prices as part of the semi-annual business cycle survey of the Economic and Business Research Institute (Gazdaság- és Vállalkozáskutató Intézet, GVI), GVI said in a statement sent to Forbes.hu.
74 percent of respondents plan to raise sales prices in the next six months. That is 8 percentage points fewer than in October 2022. For the first time since April 2022, the share of businesses expecting a price increase has fallen compared to the previous six months. However, the share of businesses planning to increase prices remains above the pre-pandemic level.
36 percent of firms forecast price rises in line with inflation. The share of firms expecting prices to rise more than inflation fell from 15 percent to 6 percent compared with the previous half-year. In line with the decrease in the share of firms expecting price increases, the share of firms expecting no change in their sales prices in the next six months increased from 15 to 22 percent.
Companies with 10-49 employees and 50-249 employees are the most likely to expect sales prices to rise (78-81 percent). Meanwhile, construction (77 percent), services (76 percent) and trade (84 percent) are the most likely to expect the same in terms of sectors.
As we just reported, fuel prices are certain to skyrocket this autumn in Hungary. Read details HERE.
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2 Comments
The entire spectrum of the Hungarian Economy is out of control.
What is going to STOP this CRUMBLING atmosphere – surging deeper into an abyss – the Nadir, of the BLACK Hole, distanced from its BOTTOM.
Does Orban retain CONTROL of Hungary ?
Is it just a FABRICATED perception that Orban has control and leadership respect in Hungary ?
Millions of Hungarians – have to be FEARFUL of this place – this time – what we are “plunging” deeper daily into, all through the Orban “fairy land” plans for the future of Hungary.
Are we going to RISE up in opposing this PLACE, we have been delivered to – that we are expected to survive live our day to day lives in, that the FUTURE continues to look one of a PERILOUS position ?
This is beyond being a SERIOUS place – that Orban has led us to – its a Cataclysmic DISASTER.
Millions of Hungarians are to BLAME, letting what is occurring before our very eyes HAPPEN.
Why the BLINDNESS – why the SILENCE – that sees us in this depressive place as a country, that Orban has taken delivered us to ?
We have a Government under a Prime Minister – Victor Orban who by his own doings – ideas and philosophy, this HORRID place we as a country are IN, that our FUTURE or any sign(s) of stabilization of the FREE FALL pattern economically and financially we FACTUALLY are in, which WORSENS daily, just reads GLOOM and despair.
Nothing is going to get CHEAPER in Hungary – and daily the Big Picture of Hungary, bought there by Victor Orban – will just GROW dirtier sinking us into a MIRE that continues to eradicate or destroy any true life values and HOPE.
Do not worry! Our Politicians are committed to single digit inflation figures.
Since we are still Europe leading, except for Turkey, a timeline would be appreciated?