Hungary Inflation Rate

Last Release

Aug 31, 2024

Actual

3.4

Units In

4.1

Frequency

Monthly

Next Release

Oct 10, 2024

Time to Release

27 Days 23 Hours

Highest	Lowest	Average	Date Range	Source
31 Jun 1995	-1.4 Jan 2015	8.82 %	1992-2024	Hungarian Central Statistical Office

In Hungary, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (21.3 percent of total weight). Transport accounts for 16.2 percent; Housing and Utilities for 13.2 percent; Alcoholic beverages and Tobacco for 8.3 percent; Recreation and Culture for 7.7 percent and Miscellaneous Goods and Services for 7.3 percent. Restaurants and Hotels; Health; Furniture, Household Goods and Maintenance; Communication; Clothing and Footwear and Education account for the remaining 26 percent of total weight.

Latest Updates

The annual inflation rate in Hungary fell to 3.4% in August 2024 from July's seven-month high of 4.1%, below market forecasts of 3.6%. It marked the lowest inflation rate since February 2021, due to a slowdown in prices of food (2.4% vs 2.7% in July) and alcoholic beverages & tobacco (3.9% vs 4.2%). Prices accelerated for clothing and footwear (4.5% vs 4.2%) and services (9.5% vs 9.1%). Additionally, prices dropped further for electricity, gas & other fuels (-4.3% vs -4.5%) and consumer durable goods (-0.2% vs -0.5%). The annual core inflation rate, which excludes volatile items such as food and energy, eased to 4.6%, below market expectations of 4.7%. On a monthly basis, consumer prices were flat, after rising 0.7% in the preceding period.