According to analysts, October also brought a brutal food price shock

By: Trademagazin Date: 2022. 11. 07. 17:13

In October, the annual price increase could reach 21 percent, and the food price shock is not over yet. The last time inflation of this magnitude was measured in October 1996 in our country.

There seems to be a light at the end of the tunnel

“Consumer prices are rising unstoppably in Hungary, after the spike in inflation in September, presumably there was no change in October either. As in previous months, food prices may have again dragged down the price index, but at least there is some light at the end of the tunnel: minimal, but the dynamics of price increases are slowing down”

– writes VG.

“In the future, the main driving force in the development of the consumer price index will primarily be the accelerating price increase of foodstuffs”

– pointed out Péter Virovácz, ING Bank’s senior analyst, according to whom an annual inflation rate of more than 35 percent was already measured in the case of foodstuffs in September, but by October this could have already exceeded the value of 38 percent. The continuous increase in the price of unprocessed food is increasingly reflected in the price of processed products, which are driven up by the increase in production costs.