The annual inflation rate in Hungary accelerated to 10.7 percent in May of 2022 from 9.5 percent in the previous month, surpassing market expectations of 10.5 percent. It was the highest inflation rate since May of 2001 and well above the central bank’s target ceiling of 4 percent. Main upward pressure came from food and non-alcoholic beverages (19.4 percent vs 16.2 percent in April), housing and utilities (5.8 percent vs 5.3 percent), furnishings and household maintenance (12.4 percent vs 10.6 percent), and restaurants and hotels (15 percent vs 13.1 percent). While remaining high, prices decelerated for transportation (13.2 percent vs 13.5 percent) amid slower prices for fuels and lubricants (10.8 percent vs 12.7 percent). The core inflation rate rose to a 1998-high of 12.2 percent, well above expectations of an 11.1 percent rise. On a monthly basis, consumer prices went up by 1.7 percent, compared to a 1.6 percent advance in the prior month. source: Hungarian Central Statistical Office
Inflation Rate in Hungary averaged 8.46 percent from 1992 until 2022, reaching an all time high of 31 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 June of 2022.
Inflation Rate in Hungary is expected to be 11.20 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 4.50 percent in 2023 and 3.20 percent in 2024, according to our econometric models.