Latest inflation data out: Hungarian inflation back on target, property prices keep increasing

Hungary’s annualised consumer price index reached 3.0pc in September, falling from 3.4pc in the previous month, according to data released by the Central Statistics Office (KSH) on Thursday.

Inflation in Hungary decreases

The KSH data show food prices rose 3.7pc in September. The price of flour jumped 32.9pc, milk prices rose 13.8pc and the price of eating out increased 7.6pc, but noodle prices fell 5.8pc, egg prices dropped 3.5pc and the price of poultry edged 2.4pc lower.

Household energy prices fell 5.0pc. Gas prices were 9.4pc lower and electricity prices declined 1.3pc.

Consumer durable prices edged down 0.2pc.

Motor fuel prices fell 9.5pc.

Prices of spirits and tobacco products increased 3.9pc and clothing prices rose 3.3pc. Service prices increased 8.4pc.

Core inflation, which excludes volatile fuel and food prices, was 4.8pc.

The CPI calculated with a basket of goods and services used by pensioners was 3.2pc.

In a month-on-month comparison, consumer prices edged down 0.1pc as motor fuel prices dropped 3.7pc.

Minister’s comments

Commenting on the fresh data, National Economy Minister Márton Nagy pointed to the success of government measures to bring high inflation, a consequence of the war and sanctions, down to a “persistently low” level.

The government is keeping some of those measures in place, such as an online price comparison platform featuring products stocked at the biggest supermarket chains in the country, he added.

Persistently low inflation translates as predictability and strengthens consumer confidence, boosting consumption and supporting economic growth, he said.

Home prices rise 6.7pc in September – ingatlan.com

Home prices in Hungary rose 6.7pc year-on-year in September, listings site ingatlan.com said on Thursday.

Budapest, Hungary. Source: depositphotos.com

Home prices in the capital climbed 9.1pc. Price growth continued to accelerate, ingatlan.com said.

Prices of homes in Budapest averaged HUF 1,070,000/sqm (EUR 2,673) at the start of October, but were as high as HUF 1,730,000/sqm (EUR 4,322) in the central District V.

In Debrecen, Hungary’s second-biggest city, home prices averaged HUF 839,000/sqm (EUR 2,096). Homes were the cheapest in Salgotarjan (NE Hungary) at HUF 282,000/sqm (EUR 705).

Next year, ingatlan.com augurs a 10-15pc increase in home prices.

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Featured image: depositphotos.com