Hungarian Parliament building

Hungary Inflation May 2024

Hungary: Inflation comes in at highest level since December 2023 in May

Inflation rose to 4.0% in May, from April’s 3.7%. May’s result was the highest inflation rate since December 2023. Prices for electricity, gas and other fuels fell at a softer pace in May, while price pressures for food and services remained stable. Lastly, prices for alcohol and tobacco, plus clothing and footwear, rose at a softer pace.

The trend pointed down, with annual average inflation coming in at 8.7% in May (April: 10.0%). Meanwhile, core inflation edged down to 4.0% in May, from April’s 4.1%.

Lastly, consumer prices fell 0.06% over the previous month in May, swinging from April’s 0.70% increase. May’s result marked the weakest reading since December 2023.

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