80% plan to spend less due to inflation

Figures

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The Hungarian population expects significant inflation for the period ahead, with prices rising by up to 20% for some product groups, according to a survey conducted by Cetelem among its customers in May 2022, writes business daily Világgazdaság.

According to Péter Szabó, CEO of Magyar Cetelem Bank, households expect an outstanding increase in food and building materials prices.

Some 65% of those surveyed felt that they were negatively affected by inflation, with 15% particularly strongly affected, and only 5% said they did not feel much impact.

The research found that the vast majority of respondents, roughly 80%, plan to spend less to cushion the effects of inflation, primarily carving out spending on food and hygiene products.

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