K&H: faint optimism on the inflation stage

By: Trademagazin Date: 2023. 07. 31. 10:30

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The number of middle-aged people who have not experienced a significant increase in the price of food is negligible – it is clear from the second quarter of K&H’s secure future survey, which examined the effects of inflation on everyday life in the 30-59 age group. According to the latest results, 92 percent of the respondents feel that the food price increase is significant, which is practically the same as the 94 percent measured in the first quarter. Inflation prospects improved modestly, 78 percent of 30-59-year-olds expect further price increases by the end of the year, which is clearly a positive shift from the previous quarter’s level of 87 percent.

The impact of inflation, which is felt most in food purchases, and the expectations regarding future price changes are still rather pessimistic, although the situation has at least improved – states the K&H commissioner in the next quarter’s second quarter survey, which, among other things, investigated whether the 30-59 age group what price changes have its members experienced and what they expect in the future.

There is hardly a person in Hungary today who has not experienced a significant increase in prices, 97 percent of the respondents felt an increase in the price of food and beverages: in fact, 92 percent of them reported a particularly significant price increase. The share of the latter was 94 percent in the first quarter, and 87 percent a year ago. This means that the vast majority have noticed a significant rise in food and beverage prices for a year now compared to the year before. The official inflation data support this, as in the eight-month period from October last year to the end of May this year, food inflation was 33.5-44.8 percent, according to KSH data.