This could be behind the sharp rise in food prices, and this is what 2023 will bring
In November, inflation was 22.5 percent year-on-year, which is the highest in the EU. This is more than surprise inflation, especially considering that at the beginning of 2022, analysts were expecting inflation of 5-6 percent. It is true that it was before the Russian invasion of Ukraine, but even then it was predicted that the 7.4 percent inflation in December 2021 could stay with us in the longer term.
While previously two-thirds to one-third of the price increase was explained by external and internal causes, according to their opinion a year ago, the domestic effects could be so much stronger in 2022 that the ratio was estimated at around 50-50 percent until the end of 2022. One of the main reasons for this was that the inflationary effect of the roughly HUF 3,000 billion budget expenditure planned to be spent in the first half of the (election) year could appear in the second half of the year, when the international effects would already start to recede, the G7 writes in a recent article.
További információ erről a forrásszövegrőlTovábbi fordítási információhoz forrásszöveg szükséges
Visszajelzés küldése
Oldalsó panelek
Related news
KSH: Economic performance stagnated in the first quarter of 2025 compared to the first quarter of 2024
The volume of Hungary’s gross domestic product stagnated in the…
Read more >GKI analysis: Hungarian industrial production decreased further
The volume of Hungarian industrial production declined for the second…
Read more >OECD slightly downgrades global GDP growth forecast for this year and next
The Organization for Economic Co-operation and Development (OECD) has marginally…
Read more >Related news
The 2024 FMCG Retailer Ranking is out now
Everything remains the same: Lidl, SPAR and Tesco are the…
Read more >KSH: Economic performance stagnated in the first quarter of 2025 compared to the first quarter of 2024
The volume of Hungary’s gross domestic product stagnated in the…
Read more >Chemical cocktail on your plate: alarming data on the contamination of European food
According to a recent report by the European Food Safety…
Read more >