The annual inflation rate in Hungary fell to 3.4 percent in June 2019 from 3.9 percent in the previous month and below market expectations of 3.6 percent. Prices slowed for transport (0.5 percent from 4 percent in May); alcoholic beverages & tobacco (7.3 percent from 9.2 percent); and restaurant & hotels (6.4 percent from 7 percent). Also, cost of communication continued to fall (-0.7 percent, the same as in May). Meanwhile, prices rose further for food & non-alcoholic beverages (5.6 percent from 5.1 percent); miscellaneous goods & services (2.3 percent from 2.1 percent); clothing & footwear (1.2 percent from 0.9 percent); and recreation & culture (2.6 percent from 1.8 percent). Additionally, inflation was steady for housing & utilities (at 2.3 percent, the same as in May); health (at 3.8 percent); education (at 3.1 percent); and furniture & household equipment (at 2.5 percent). On a monthly basis, consumer prices dropped 0.2 percent, after a 0.7 percent gain in the prior month. Inflation Rate in Hungary averaged 8.85 percent from 1992 until 2019, reaching an all time high of 31 percent in June of 1995 and a record low of -1.40 percent in January of 2015.
Inflation Rate in Hungary is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Hungary to stand at 3.00 in 12 months time. In the long-term, the Hungary Inflation Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.