Inflation is increasing due to the food price shock

By: Trademagazin Date: 2022. 11. 04. 13:14

Due to the price shock on the food front, inflation will spill over into all areas of the entire economy and will not end anytime soon.

Food price increases are the strongest in Hungary

“In the coming months, the price shock of unprocessed food will spill over into the prices of processed food”

– said István Madár, Portfolio’s leading macro analyst, on the Portfolio.hu Checklist ” target=”_blank” rel=”noopener”>podcast, in which the problems of inflation were discussed.

“Hungary may have the biggest problem with inflation in the entire European Union, because nowhere did unprocessed food become more expensive in one year than in our country: the rate of increase was 40.4%. Only two of the EU countries had 30% this figure was above, in the others it was below, and the EU average was only 16%. In the coming months, however, we will see a round of price increases in the other sectors as well, as the MNB also hinted at.”

– explained the specialist.