Food price rise may ruin Christmas in Hungary, the worst is still ahead

Bejgli is one of the most popular delicacies at Christmas on the table of Hungarian households. However, its price rise is shocking compared to last year. That is true even if you want to bake it at home because ingredient prices soared in the last few months unprecedentedly. Statistics say that bejgli will cost at least 20 percent more this year than in 2021. Below, you may read the details.

According to the report of rtl.hu, in the Gajdos confectionery in Kozármisleny, a small town near Pécs, the walnut version of the bejgli cost HUF 3,500 and HUF 3,000 with poppy seed filling. We do not write the euro price since the forint was much stronger last year than today. The confectionery told the Hungarian media outlet that they would increase the prices by HUF 500 this year, so the price will be almost EUR 10 this December even though they use their own walnut.

According to the numbers of the confectionery corporation, bejgli will cost 20 percent more this year than in 2021. That is partly because of the increasing energy costs since confectioneries are not included in the government’s energy price cap scheme.

Those willing to make it at home will have to pay more for the ingredients. Butter costs doubled, we must pay 74 percent more for margarine. Furthermore, walnut prices went up by 18 percent.

Want to bake your traditional Hungarian bejgli at home this Christmas? HERE you may read a good recipe.

Read alsoFood price rise may ruin Christmas in Hungary, the worst is still ahead

Based on rtl.hu, food price inflation stopped, or even a deflation started in 50 countries of the world. However, in Hungary, food prices continue to grow, and the increase is accelerating. Barnabás Virág, the vice-president of the Hungarian central bank, said that the worst is still ahead.

Experts and the IMF say that the Hungarian food price cap scheme, including eight products from milk to eggs, worsens the situation because it generates extra demand for these products. László Molnár, the CEO of GKI, a Hungarian economic research institute, said that the food price rise in Hungary may last until next September.

If the harvest is good, prices may start stagnating in September in Hungary. Based on the latest forecast of the GKI, food prices may increase by 20 percent next year.

Read alsoFood price rise may ruin Christmas in Hungary, the worst is still ahead

Source: rtl.hu