The annual inflation rate in Hungary rose to 4.1% in July 2024, from 3.7% in June, almost in line with market forecasts of 4%. This marked the highest reading since December 2023, as prices accelerated for food (2.7% vs 1.1%) and clothing and footwear (4.2% vs 4.1%). Moreover, costs declined at a softer pace for consumer durable goods (-0.5% vs -1.3%), while it remained unchanged for alcoholic beverages, tobacco (4.2%). Meanwhile, deflation continued for electricity, gas & other fuels (-4.5% vs -2.7%), while prices softened for services (9.1% vs 9.7%). The annual core inflation rate, which excludes volatile items such as food and energy, increased to 4.7%, above market expectations of 4.4%. On a monthly basis, consumer prices advanced 0.7%, after a flat reading in the preceding period. source: Hungarian Central Statistical Office
Inflation Rate in Hungary increased to 4.10 percent in July from 3.70 percent in June of 2024. Inflation Rate in Hungary averaged 8.83 percent from 1992 until 2024, reaching an all time high of 31.00 percent in June of 1995 and a record low of -1.40 percent in January of 2015. This page provides - Hungary Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2024.
Inflation Rate in Hungary increased to 4.10 percent in July from 3.70 percent in June of 2024. Inflation Rate in Hungary is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary Inflation Rate is projected to trend around 3.00 percent in 2025, according to our econometric models.
Hungary Inflation Rate
In Hungary, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (23 percent of total weight). Transport accounts for 15 percent; Housing and Utilities for 12 percent; Alcoholic beverages, Tobacco and Narcotics for 9 percent; Recreation and Culture for 7 percent; Miscellaneous Goods and Services for 7 percent; and Furniture, Household Equipment and Maintenance for 7 percent. Health; Restaurants and Hotels; Communication; Clothing and Footwear; and Education account for the remaining 20 percent of total weight.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 4.10 | 3.70 | 31.00 | -1.40 | 1992 - 2024 | percent | Monthly | 1990=100, NSA |
News Stream
Hungary Inflation Rate at 7-Month High
The annual inflation rate in Hungary rose to 4.1% in July 2024, from 3.7% in June, almost in line with market forecasts of 4%. This marked the highest reading since December 2023, as prices accelerated for food (2.7% vs 1.1%) and clothing and footwear (4.2% vs 4.1%). Moreover, costs declined at a softer pace for consumer durable goods (-0.5% vs -1.3%), while it remained unchanged for alcoholic beverages, tobacco (4.2%). Meanwhile, deflation continued for electricity, gas & other fuels (-4.5% vs -2.7%), while prices softened for services (9.1% vs 9.7%). The annual core inflation rate, which excludes volatile items such as food and energy, increased to 4.7%, above market expectations of 4.4%. On a monthly basis, consumer prices advanced 0.7%, after a flat reading in the preceding period.
2024-08-08
Hungary Inflation Rate Eases to 3.7% in June
The annual inflation rate in Hungary eased to 3.7% in June 2024, compared to market forecasts and May's five month-high of 4%. Prices softened for clothing & footwear (4.1% vs 4.7% in May), while costs continued to fall for electricity, gas & other fuels (-2.7% vs -2.4%). On the other hand, inflation went up for food (1.1% vs 1%), alcoholic beverages & tobacco (4.2% vs 3.5%), and services (9.7% vs 9.5%). The annual core inflation rate, which exclude volatile items such as food and energy, ticked higher to 4.1% in June from 4% in May. On a monthly basis, consumer prices showed no increase in June, following a 0.1% fall in the preceding month.
2024-07-09
Hungary Inflation Rate at 5-Month High
The annual inflation rate in Hungary edged higher to 4% in May 2024, up from 3.7% in the previous month. This marked the highest reading since December 2023, as prices fell at softer pace for electricity, gas & other fuels (-2.4% vs -4.5% in April), while remained unchanged for food (1%) and services (9.5%). On the other hand, inflation moderated for alcoholic beverages & tobacco (3.5% vs 3.8%) and clothing (4.7% vs 4.8%). The annual core inflation rate, which exclude volatile items such as food and energy, slowed further to 4% from 4.1% in the prior period. On a monthly basis, consumer prices tumbled 0.1% in May, reversing a 0.7% growth in the prior period.
2024-06-10
