Inflation in Hungary
Hungary - Harmonized Inflation (end of period)
Inflation comes in at highest level since March 1996 in December
Inflation rose to 24.5% in December from November’s 22.5%. December's figure marked the highest inflation rate since March 1996. The figure was primarily driven by increasing prices for clothing and footwear.
The trend pointed up, with annual average inflation coming in at 14.6% in December (November: 13.2%). Meanwhile, core inflation rose to 24.8% in December, from November’s 24.0%.
Lastly, consumer prices rose 1.93% in December over the previous month, picking up from the 1.82% increase seen in November.
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%.
Hungary - Harmonized Inflation (eop) Data
|Inflation Rate (HICP, annual variation in %, eop)||1.0||1.8||2.2||2.8||4.1|
5 years of economic forecasts for more than 30 economic indicators.
Hungary Harmonized Inflation (eop) Chart
Source: Hungarian Central Statistical Office (KSH).
|Bond Yield||2.08||0.0 %||Dec 31|
|Exchange Rate||295.1||-0.68 %||Jan 01|
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January 31, 2023
The GKI economic sentiment index, a composite indicator, rose to minus 20.5 in January from minus 20.8 in December.
January 25, 2023
At its 24 January meeting, the Monetary Council of the Hungarian National Bank (MNB) left its base rate unchanged at 13.00% for the fourth consecutive meeting.
January 16, 2023
Inflation rose to 24.5% in December from November’s 22.5%.
January 16, 2023
According to a second estimate by the Statistical Institute, industrial output grew 0.8% year on year in November (October: +5.0% yoy).
December 23, 2022
The GKI economic sentiment index, a composite indicator, rose to minus 21.3 in December from minus 22.5 in November, which had marked the lowest reading in 23 months.