Latest reading: Inflation edged down to 4.8% in June from 5.1% in May, marking the lowest inflation rate since October...
Inflation in Hungary
Consumer price inflation in Hungary averaged 4.8% in the ten years to 2024, in line with the Central & Eastern Europe regional average of 3.9%. The 2024 average figure was 3.7%. For more information on inflation, visit our dedicated page.
Hungary Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Hungary from 2024 to 2019.
Source: Macrobond.
Hungary Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 3.3 | 5.1 | 14.6 | 17.1 | 3.7 |
| Inflation (CPI, ann. var. %, eop) | 2.7 | 7.4 | 24.5 | 5.5 | 4.6 |
| Inflation (HICP, ann. var. %, aop) | 3.4 | 5.2 | 15.3 | 17.0 | 3.7 |
| Inflation (Core, ann. var. %, aop) | 3.7 | 3.9 | 15.8 | 17.7 | 4.6 |
| Inflation (PPI, ann. var. %, aop) | 4.2 | 13.6 | 33.7 | 7.8 | 1.0 |
Inflation rises in May
Latest reading: Inflation came in at 4.4% in May, up from April’s 4.2%. The pick-up was broad-based, with greater price pressures recorded for clothing and footwear, food and non-alcoholic beverages, and housing and energy. As a result, inflation remained above the ceiling of the Central Bank’s 2.0–4.0% target range. The trend pointed up mildly, with annual average inflation coming in at 4.2% in May (April: 4.1%). Meanwhile, core inflation fell to 4.8% in May from April’s 5.0%. Finally, consumer prices increased 0.20% from the previous month in May, accelerating from April's 0.17% rise.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Hungarian inflation projections for the next ten years from a panel of 37 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Hungarian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Hungarian inflation projections.
Want to get access to the full dataset of Hungarian inflation forecasts? Send an email to info@focus-economics.com.
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