Hungary Inflation Rate

Last Release

Dec 31, 2024

Actual

4.6

Units In

3.7

Frequency

Monthly

Next Release

Feb 11, 2025

Time to Release

26 Days 7 Hours

Highest	Lowest	Average	Date Range	Source
31 Jun 1995	-1.4 Jan 2015	8.77 %	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 climbed to 4.6% in December 2024 from a four-month high of 3.7% in the previous month, above market expectations of 4.4%. This marked the highest inflation rate since December 2023, primarily driven by higher prices of food (5.4% vs 4.9% in November), particularly flour (36.2%), eggs (21.9%), and milk (19.5%). Additionally, costs increased at a faster pace for alcoholic beverages and tobacco (4.3% vs 4%), while it rebounded for both household energy (0.5% vs -3.2%) and consumer durables (0.6% vs -0.2%). Conversely, prices edged lower for services (6.8% vs 7%). On a monthly basis, consumer prices stood at 0.5% in December, remaining unchanged from the previous month. Meanwhile, the core inflation, which excludes volatile items such as food and energy, rose to a three-month high of 4.7% in December from a five-month low of 4.4% in November, exceeding market forecasts of 4.5%.