Hungarian food prices are the third highest in the EU

Hungary has the third highest price increase for unprocessed products in the European Union. A recent Eurostat report confirmed that the increase in domestic prices is the third highest in the EU. Economist Márton Nagy said that a year ago shopping in Hungarian supermarkets was considerably cheaper than in many EU countries. According to¸ the GKI Economy Research assumes that the record high forint and the increase in the minimum wage are the reasons for the soaring food prices in Hungary.

The government decree on “additional profit taxes” will substantially increase the employment tax on temporary work. Temporary work is based on simplified employment rules in Hungarian legislation and includes four categories: seasonal agricultural work, seasonal tourist work, unspecified temporary work and acting work as an extra in industry cinematographic.

The government decree instituting the “tax on additional profits” modifies the tax charges for these categories as of July 1, 2022. The tax on the employment of seasonal agricultural and tourist workers will double from €1.27/person/day to 2, 54 €/person/day.


Laura T. Thrasher