Hungary's 2021 inflation rises 5.1 pct YoY, matching 14-year high-Xinhua

Hungary's 2021 inflation rises 5.1 pct YoY, matching 14-year high

Source: Xinhua| 2022-01-15 00:02:45|Editor: huaxia

BUDAPEST, Jan. 14 (Xinhua) -- In Hungary, the annual average inflation rate was 5.1 percent in December 2021, breaking a 14-year record, the country's Central Statistical Office (KSH) said on Friday.

The figure was much higher than the official target of 3.0 percent and up from the 3.3 percent average of 2020.

"Consumer prices were 7.4 percent higher on average in December 2021 than a year earlier. The highest price rises over the last 12 months were measured for motor fuels as well as alcoholic beverages and tobacco. Consumer prices increased by 0.3 percent on average in one month and rose by 5.1 percent on average in 2021 compared to the previous year," it said.

In order to ease the burden of inflation on the population, the country's government put a cap on the prices of six basic food items earlier this week. These are: granulated sugar, wheat flour, sunflower cooking oil, leg of pork, chicken breast and milk.

For 90 days effective Feb. 1, prices for these six products must be rolled back to levels from Oct. 15 last year.

In December 2021, motor fuel prices were 25.9 percent higher than a year earlier, and the price of household repair and maintenance goods was up 15.1 percent.

In the same period, alcoholic beverage and tobacco prices rose by 8.9 percent on average, and consumers paid 7.5 percent more for consumer durables.

Service charges were up 5.0 percent, according to KSH.