Hungary Inflation July 2020


Hungary: Inflation hits highest level in four months in July

August 11, 2020

Consumer prices rose 1.10% in July over the last month, picking up from June's 0.40% increase. July's figure was the sharpest increase in prices since January 2012 and largely reflected higher prices for food and services.

Inflation rose to 3.8% in July, above June’s 2.9%. July's reading marked the highest inflation rate since March. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 3.4% in July (June: 3.3%). Lastly, core inflation rose to 4.5% from the previous month's 4.0%.

FocusEconomics panelists see inflation averaging 3.0% in 2020, which is up 0.1 percentage points from last month’s projection. For 2021, the panel sees inflation averaging 2.9%.

Author:, Economist

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Hungary Inflation Chart

Hungary Inflation July 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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