December 2021, the Hungarian Central Statistical Office (KSH) registered a record high depreciation, with inflation rising to a level not seen for 14 years, which meant an overall price increase of 7.4%, yet the annual depreciation in Hungary was also over 5%.
Experts attribute this to a shortage of goods caused by the coronavirus crisis, to the brutal rise of energy prices and to the misguided economic policies of the government, as well as the central bank. If we were to break down the consumer´s market basket, food became, on average, 8% more expensive than a year ago. Yet, even within that, there are some products, such as cooking oil and sugar, which have risen by a quarter.
Unfortunately, in regional terms, Hungary was one of the biggest losers of the economic slowdown, falling two places in the regional development rankings by the end of 2021. 1995 we still had a significant advantage over the Baltic states, but today we find ourselves with even Romania hot on our heels ...
created with
Website Builder Software .