Bad news: Pizza inflation is the highest in Hungary

Today, 9 February, is National Pizza Day in the United States and Canada. On this occasion, Eurostat shared some data on pizza and quiche prices. To be more precise, on the price increases of these two much-liked dishes. Believe it or not, Hungary is the winner in this as well: pizza prices rose the most in December on an annual basis in our country.

Pizza inflation highest in Hungary

The average price of pizza and quiche in the European Union was 16 percent higher last December than a year earlier. From 2020 to 2021, the increase was just 2 percent, Eurostat data show. There is some bad news for Hungarians. As with overall inflation, the country has set a record for pizza inflation as well. The price rise was 46 percent. This rate is significantly higher than in any other country, Portfolio reports.

Hungary is followed by Lithuania with 39 percent and Bulgaria with 37 percent. Meanwhile, Luxembourg, Italy and France recorded increases of only 7 percent, 10 percent and 13 percent respectively.

• Read also: Fuel prices to decrease again in Hungary from Friday

Inflation data to be released on Friday

The Hungarian Central Statistical Office (Központi Statisztikai Hivatal, KSH) is releasing January’s inflation data on Friday, 10 February. As we reported earlier, experts answering inquiries by Világgazdaság believe that inflation has reached its peak in Hungary and is expected to slow down and easy in the coming weeks and months. Experts expect an average annual increase of 18 percent this year.

• Read also: This is why fuel in Hungary is the most expensive in the region

Hungarian minimum wage also performing badly

Hungary is not only top in pizza prices and inflation. It is also the first one on the list of the lowest minimum wages in the region. As we reported, the minimum wage reached a historic low in the EU: in January, the Hungarian minimum wage was worth EUR 578.74 a month. With this sum, the country precedes only Bulgaria, whose minimum wage is worth EUR 398.81.

According to mfor.hu, the ranking is disappointing in itself. However, it is made even worse by the fact that a year ago, Hungary was still beating three countries in the EU: Romania, Latvia and Bulgaria. Now, the first two are ahead of us. Last year, the Hungarian forint started to weaken spectacularly against the euro. The result is the Hungarian minimum wage in euro is not worth as much as it used to.

Read alsoWhat does the future hold for the Hungarian forint? Analysts answer

Source: Eurostat, Portfolio.hu, vg.hu, mfor.hu, DNH