Hungary Inflation Rate

Last Release

Sep 30, 2024

Actual

Units In

3.4

Frequency

Monthly

Next Release

Dec 10, 2024

Time to Release

27 Days 12 Hours

Highest	Lowest	Average	Date Range	Source
31 Jun 1995	-1.4 Jan 2015	8.8 %	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 rose to 3.2% in October 2024, up from 3% in September, which was the lowest rate since January 2021. The latest figure came in below market forecasts of 3.5%. Price growth accelerated for food (4.5% vs 3.7% in September), driven by notable rises in the prices of flour (38.9%), milk (16.8%), and fruit and vegetable juices (12.1%). On the other hand, costs softened for services (7.2% vs 8.4%) and alcoholic beverages and tobacco (3.8% vs 3.9%), while decreased for electricity, gas and other fuels (-4.8% vs -5%) and consumer durables (-0.3% vs -0.2%). Meanwhile, the core inflation, which excludes volatile items such as food and energy, eased to a four-month low of 4.5% in October, below market expectations of 4.9%. On a monthly basis, consumer prices were up 0.1% in October, after a 0.1% fall in the previous month.