Hungary to become an oasis of cheap alcohol!

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Consumer prices in Hungary rose by 7.9 pc in January, climbing from 7.4 pc in the previous two months, data released by the Central Statistical Office (KSH) on Friday shows. Meanwhile, alcohol became cheaper in Hungary in the last few months.

According to Blikk, alcoholic beverages became cheaper in Hungary compared to the previous year. Italkereső.hu did the relevant survey examining the prices in 1,100 shops and 215 online stores. They said that

the price of alcohol decreased by 1.26 pc in Hungary.

It is good news for those loving Hungarian wines that their price went down by more than seven pc. In the case of Villányi merlot, this rate is 30 pc. Gin became cheaper as well. Beer costs 1.28 pc less, except for craft beers. In their case, there was a 7.1 pc price increase.

Liquor prices went down by 1.7 pc, and the trend was similar in the case of pálinka, too (-0.5 pc). Champagne, rum, vermouth, bitters, vodka, and absinthe are all cheaper now than one year ago, with the difference reaching 1-2 pc.

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Meanwhile, MTI reported that food price inflation climbed into the double digits, increasing by 10.1 per cent. Cooking oil prices jumped 33.4 per cent, flour prices climbed 31.0 per cent, milk prices rose by 16.9 per cent, and the price of poultry was up 18.0 per cent. Prices in the category of goods including vehicle fuel increased by 11.3 per cent, pushed up by a 22.5 per cent increase in vehicle fuel prices.

The price of tobacco and spirits rose by 7.7 per cent as tobacco prices climbed 10.0 per cent.

Clothing prices increased by 4.0 per cent, and consumer durable prices rose by 7.9 per cent. Household energy prices edged up 1.2 per cent, and service prices climbed 5.2 per cent. Core inflation, which excludes volatile food and fuel prices, was 7.4 per cent. Inflation calculated using a basket of goods and services used by pensioners stood at 7.4 per cent. In a month-on-month comparison, headline CPI was 1.4 per cent.

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Commenting on the data, KSH deputy chairman László Windisch said growing

inflation was a global trend.

January figures were around 12 per cent in Estonia and Lithuania, and in the same range as Hungary were Latvia and the Netherlands, he said. Hungary’s monthly rise of 0.5 percentage points is in the mid-range regarding European Union Member States, he said. Growing food prices have contributed to the January spike, and

the price caps introduced by the government will show up in the February figures,

he said. Meanwhile, the government’s utility price caps have offset the strain on households at a time of 75 per cent growth of energy producers’ prices, he added.