While people often complain about Hungary’s high prices, they are nowhere near as high as those of Western European countries.

Both April and May saw an explosion of prices; consumer prices increased by 2.2 per cent in May 2020 as compared to the same time last year. However, taking a look at the prices in the European Union, Hungary is still below average, reports Pénzcentrum.

Some products may cost twice as much as this time last year, and the prices keep increasing, but Hungary is still considered to be on the cheaper side of the European Union, based on new Eurostat data.

Ten groups of products were compared in the analysis: alcohol and tobacco, clothing and footwear, means of communication, food, furniture, housing, public transport, means of transportation (own), recreation and culture, and restaurant and accommodation costs.

Hungary does not reach the average EU prices in any of the ten categories, but the wages and salaries are much lower as well.

Food costs 15.3 per cent less than the average. The cheapest to shop is in Romania, at 65.1 per cent of the average price, followed by Poland (68.8 per cent), Bulgaria (76.5 per cent) and Lithuania (80.1 per cent).

Food costs the most in Switzerland, with 166.3 per cent of the EU average, followed by Norway with 155.2 per cent and Iceland with 141.3 per cent.

As for the other groups, clothing only costs less in Romania and Bulgaria than in Hungary. The case is the same for costs of restaurants and accommodations, with Romania, Bulgaria and Hungary being the cheapest, while the prices for the same services are highest in Iceland.

Alcohol costs 75 per cent of the EU average in Hungary, while it costs 236 per cent of the average in Norway. The bus is also the most expensive in Norway; however, Hungary also ranks higher when it comes to public transport, with prices that are 70 per cent of the EU average.

labour shortage
Read alsoHungary among the European countries with the highest annual inflation rate

3 comments
  1. Question does beckon – is there a fair pays pay for a fair days work ?
    This situation of basic low hourly pay in Hungary, constantly remains within vast numbers of workers, within Hungary, across all areas of the work force.
    Hungary is not alone with this claim by its workers and surprisingly Australia, seem a country of opportunity, they have horrendous disorder within there current wage structures, and workers discontent and opposition.
    It’s an immense challenge to Governments to find the correct fix and level, but must be focused and driven to ensure a comfortable quality of life is there and possible for all, whatever there station in life – background maybe.
    Stay Well – ALL.

  2. Depends where do you get your paycheck from. If in H u ngary tough sxxxt. From outside of the country it appears reasonable. Cost similar to western countries but quality lacks behind.
    Retirement minimum set at 26,000 ft/month but the lowest retirement is 10,000 ft/month equal to 30 € can vary by the exchange rate.
    Try to make a living on that money for a month. Does not cover the medicine cost in old age. Don’t even mention medical cost, dental, eye or other old age related stuff.

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