Hungary Inflation October 2022

Hungary

Hungary: Inflation increases in October

November 10, 2022

Inflation came in at 21.1% in October, which was up from September’s 20.1%. October's figure represented the highest inflation rate since September 1996. The moderation was broad-based, with lower price pressures recorded for clothing and footwear, food and non-alcoholic beverages, and housing and energy. Moreover, prices for transport dropped.

The trend pointed up, with annual average inflation coming in at 11.9% in October (September: 10.7%). Meanwhile, core inflation rose to 22.3% in October, from the previous month's 20.7%.

Lastly, consumer prices rose 2.01% over the previous month in October, coming in below the 4.10% increase seen in September.

FocusEconomics panelists see inflation averaging 6.5% in 2023, which is unchanged from last month’s projection. For 2024, the panel sees inflation averaging 3.9%.


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Hungary Inflation October 2022

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


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