Food price rise may ruin Christmas in Hungary, the worst is still ahead
Bejgli is one of the most popular delicacies at Christmas on the table of Hungarian households. However, its price rise is shocking compared to last year. That is true even if you want to bake it at home because ingredient prices soared in the last few months unprecedentedly. Statistics say that bejgli will cost at least 20 percent more this year than in 2021. Below, you may read the details.
According to the report of rtl.hu, in the Gajdos confectionery in Kozármisleny, a small town near Pécs, the walnut version of the bejgli cost HUF 3,500 and HUF 3,000 with poppy seed filling. We do not write the euro price since the forint was much stronger last year than today. The confectionery told the Hungarian media outlet that they would increase the prices by HUF 500 this year, so the price will be almost EUR 10 this December even though they use their own walnut.
According to the numbers of the confectionery corporation, bejgli will cost 20 percent more this year than in 2021. That is partly because of the increasing energy costs since confectioneries are not included in the government’s energy price cap scheme.
Those willing to make it at home will have to pay more for the ingredients. Butter costs doubled, we must pay 74 percent more for margarine. Furthermore, walnut prices went up by 18 percent.
Want to bake your traditional Hungarian bejgli at home this Christmas? HERE you may read a good recipe.
Read alsoBrutal numbers: Hungary is the EU leader in food price rise again
Based on rtl.hu, food price inflation stopped, or even a deflation started in 50 countries of the world. However, in Hungary, food prices continue to grow, and the increase is accelerating. Barnabás Virág, the vice-president of the Hungarian central bank, said that the worst is still ahead.
Experts and the IMF say that the Hungarian food price cap scheme, including eight products from milk to eggs, worsens the situation because it generates extra demand for these products. László Molnár, the CEO of GKI, a Hungarian economic research institute, said that the food price rise in Hungary may last until next September.
If the harvest is good, prices may start stagnating in September in Hungary. Based on the latest forecast of the GKI, food prices may increase by 20 percent next year.
Read alsoThe traditional Hungarian Christmas dinner
Source: rtl.hu
WHAT are Millions of Hungarians – what are we GOING to DO about it???
Father Christmas certainly is NOT going to come along in his sleigh pulled along by his reindeers, and “throw” out handfuls bucket loads of FORINTS to cheer us up.
Whatever at this point in time your “station in life” is in, mine my forints are growing desperately smaller, the BIG PICTURE is in Hungary is that Food – cost of Living, the availability of a range of food stuffs, is going to become TIGHTER, if not in lots of cases Disappear or – Not Available.
Nothing in Hungary for what period in time – is GOING to Get CHEAPER.
Life is GOING to be Faced with increasing mounting CHALLENGES.
Prepare for it, hope you have undertaken growing number of preparations for what is yet to DESEND upon US.
Inflation: 20%
Price rise at local grocery stores: 100%
Profits at food producers and grocery stores: up 200%
Actions by the government against these excessive profits: 0%