Food consumption patterns and trends in response to inflationary pressures

Molnár, László and Hajdú, Noémi (2023) Food consumption patterns and trends in response to inflationary pressures. PROSPERITAS. No.-0079. ISSN 2064-759X (In Press)

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Abstract

Food prices have increased significantly in Hungary over the past year due to rising inflation. Price changes are crucial in shaping consumer behaviour and purchasing decisions. Supply chain disruptions, rising energy prices and extreme weather conditions have also had an adverse impact on prices. Another factor in the unfavourable situation was the distorting effect of the “price cap” (a government-imposed ceiling on the price of certain products) applied in Hungary. Based on an extensive and representative survey conducted during the autumn of 2022, this study presents the examination of trends in the food purchasing habits of the above 18 years of age population of a county of Hungary. The findings have confirmed a decrease in both supermarket visits and the level of consumption of fresh products including vegetables, fruits, dairy products, and baked goods due to high inflation and rising food costs. Additionally, there has been a noticeable shift towards shopping at discount supermarkets, accompanied by a decline in both bulk and small purchases. As spending on food has increased by over 40%, consumers are increasingly mindful of their spending.

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