Hungarian Parliament building

Hungary Inflation July 2021

Hungary: Inflation at close to nine-year high in June

Consumer prices rose 0.50% from the previous month in July, edging down from June’s 0.60% increase. July’s slowdown was largely attributed to a softer growth in prices for services.

Inflation declined to 4.6% in July from 5.3% in June, logging the lowest reading in four months, but remaining above the upper bound of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Meanwhile, the trend moved higher, with annual average inflation coming in at 3.8% from June’s 3.7%. Lastly, core inflation cooled to 3.6% from the previous month’s 3.8%.

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