Hungary Inflation January 2020


Hungary: Inflation climbs in January

February 13, 2020

Consumer prices increased 0.9% over the previous month in January, after rising 0.3% month-on-month in December. The print reflected higher prices for food, alcoholic beverages and tobacco, motor fuels, and services.

Inflation surged to 4.7% in January, from 4.0% in December, marking the highest reading in over seven years, and thus landed above the upper ceiling of the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Meanwhile, core inflation, in seasonally-adjusted terms, inched up to 4.0% in January, from December’s 3.9%.

Annual average inflation came in at 3.5% in January, up from December’s reading of 3.4%.

FocusEconomics panelists see inflation averaging 3.3% in 2020, which is up 0.1 percentage points from last month’s projection. For 2021, the panel sees inflation averaging 3.1%.

Author:, Economist

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Hungary Inflation Chart

Hungary Inflation January 20 20

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Hungarian Central Statistics Office.

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