Márton Nagy: inflation remains at a low level

In his statement on Tuesday, he recalled the latest data from the Central Statistical Office (KSH), according to which the inflation rate reached 3.2 percent on an annual basis in October 2024, and showed a minimal movement of 0.1 percent on a monthly basis.

Among the October data, the minister called it remarkable that within the food product group, the price of dry pasta fell by 7.3 percent, sugar by 2.9 percent, margarine by 2.7 percent, and eggs by 2.1 percent.

Household energy became cheaper by 4.8 percent, including piped gas by 9.5 percent and electric energy by 0.7 percent. Consumer durables had to be paid 0.3 percent less on average, within which the price of used cars fell by 7.5 percent.

Analyzing the data, the minister concluded that the significant reduction in the price of certain basic foodstuffs and household energy is a major help for Hungarian families.

Márton Nagy emphasized that the government’s effective economic policy measures successfully dealt with the inflation that had risen as a result of the war and sanctions, bringing it down to single digits last year and driving it to the ground this year.

In order to keep inflation at a low level, the government will continue to maintain its efficient and effective measures, such as the online price monitoring system, which, in addition to controlling inflation, also helps stimulate retail competition.