CPI up 13.7% y.o.y. in July

Figures

Photo by Travel Mania / Shutterstock.com

Consumer prices were 13.7% higher on average in July 2022 than a year earlier, according to the latest data from the Central Statistical Office (KSH).

Over the past year, the prices of food and durable consumer goods have risen the most.

In one month, consumer prices increased on average by 2.3%.

The core inflation indicator, which better captures long-term processes, rose to 16.7%, meaning energy inflation rippled through the economy as a whole rather quickly.

In the first 7 months of the year, inflation was 10% on average, while food prices rose by an average of 27%.

High inflation is mainly the result of external supply shocks, such as the war, volatile energy prices, raw material shortages, while food prices have risen drastically throughout Europe.

ADVERTISEMENT

The New Age of Commerce is Approaching Analysis

The New Age of Commerce is Approaching

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

Blue Chip Art and Passion Assets - Claudia Worthington Hess ... Podcasts

Blue Chip Art and Passion Assets - Claudia Worthington Hess ...

Magyar Posta to Close 35 Post Offices in Capital City

Magyar Posta to Close 35 Post Offices in Capital

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.