Hungary Inflation June 2022

Hungary

Hungary: Inflation increases in June

July 8, 2022

Consumer prices increased 1.47% over the previous month in June, a smaller increase than May's 1.65% rise. June's result marked the weakest reading since March. Looking at the details of the release, prices for clothing and footwear and for food and non-alcoholic beverages increased at a slower pace. In contrast, prices for consumer durable goods rose at a stronger rate.

Inflation came in at 11.7% in June, up from May’s 10.7%. June's reading marked the highest inflation rate since October 1998. Annual average inflation rose to 7.8% in June (May: 7.2%). Finally, core inflation rose to 13.8% in June, from May’s 12.2%.

FocusEconomics panelists see inflation averaging 10.1% in 2022, which is up 0.7 percentage points from last month’s projection. For 2023, the panel sees inflation averaging 6.5%.


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Hungary Inflation June 2022

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


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