Hungary's inflation rate climbed to 4.0 percent year-on-year in December 2019 from 3.4 percent in the previous month, above market expectations of 3.8 percent. The rate was the highest since December 2012 and remained at the top of the central bank's inflation target range, mainly boosted by prices of food and non-alcoholic beverages (5.7 percent vs 5.2 percent), transport (4.0 percent vs 0.1 percent); alcoholic beverages, tobacco (8.8 percent vs 8.6 percent); and recreation and culture (0.9 percent vs 0.6 percent). Core inflation edged down to 3.9 percent from 4 percent in the previous month. For 2019 full year, average headline inflation came in at 3.4 percent. Inflation Rate in Hungary averaged 8.75 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 3.40 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 3.10 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.

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Hungary Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.00 3.40 31.00 -1.40 1992 - 2019 percent Monthly
1990=100, NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-10-08 07:00 AM Sep 2.8% 3.1% 3% 3.1%
2019-11-08 08:00 AM Oct 2.9% 2.8% 2.8% 2.6%
2019-12-10 08:00 AM Nov 3.4% 2.9% 3.3% 3.4%
2020-01-14 08:00 AM Dec 4% 3.4% 3.8% 3.9%
2020-02-13 08:00 AM Jan 4% 3.7%


News Stream
2019-12-10
Hungary Inflation Rate Highest in 5 Months
The annual inflation rate in Hungary increased to 3.4 percent in November of 2019 from 2.9 percent in October and above market expectations of 3.3 percent. It is the highest reading in five months amid faster increases in prices of food and non-alcoholic beverages (5.2 percent compared to 5 percent in October) and restaurants and hotels (7.2 percent compared to 7 percent) and a rebound in cost of transport (0.1 percent compared to -2.2 percent). On the other hand, inflation eased slightly for housing and utilities (2.2 percent compared to 2.3 percent). On a monthly basis, consumer prices edged up 0.1 percent, after a 0.6 percent increase in the previous month.

2019-11-08
Hungary October Inflation Rate Edges Up to 2.9%
Hungary's annual inflation rate rose to 2.9 percent in October 2019 from 2.8 percent in the previous month while markets had expected it to remain steady. Main upward pressure came from prices of food & non-alcoholic beverages (5 percent vs 4.8 percent in September); alcoholic beverages & tobacco (8.6 percent, the same pace as in the prior month); restaurants & hotels (7 percent vs 6.5 percent) and health (4.4 percent vs 4.1 percent). Meanwhile, cost advanced at the same pace for housing & utilities (2.3 percent) and miscellaneous goods & services (2.6 percent) while it fell for transport (-2.2 percent, the same pace as in September). On a monthly basis, consumer prices increased 0.6 percent, after rising 0.1 percent in the previous month.

2019-10-08
Hungary Inflation Rate Slows to 8-Month Low
Hungary's annual inflation rate eased to 2.8% in September of 2019 from 3.1% in the previous month and below market consensus of 3.0%. It was the lowest rate since January, mainly due to a slowdown in food & non-alcoholic beverages (4.8% vs 5.3% in August); housing & utilities (2.3% vs 2.4%); alcoholic beverages & tobacco (8.6 % vs 9.1 %); restaurants & hotels (6.5% vs 6.7%); furniture & household equipment (2.1% vs 2.3%) and clothing & footwear (0.7% vs 2.0%). In addition, transport cost declined further (-2.2% vs -1.1%). On the other hand, prices advanced faster for recreation & culture (1.2% vs 1.1%) and health (4.1% vs 4.0%) while inflation was steady for miscellaneous goods & services (at 2.6%) and education (at 3.2%). On a monthly basis, consumer prices rose 0.1%, rebounding from a 0.1% drop in the prior month.

2019-09-10
Hungary Inflation Rate Slows to 6-Month Low in August
Hungary's annual inflation rate eased to 3.1 percent in August of 2019 from 3.3 percent in the previous month but above market consensus of 3.2 percent. It was the lowest rate since February, mainly due to a slowdown in food & non-alcoholic beverages (5.3 percent vs 5.8 percent in July); recreation & culture (1.1 percent vs 1.6 percent) and furniture & household equipment (2.3 percent vs 2.5 percent) while transport cost fell 1.1 percent, the same as in July. On the other hand, prices advanced faster for housing & utilities (2.4 percent vs 2.3 percent); alcoholic beverages & tobacco (9.1 percent vs 8.9 percent) while inflation was steady for miscellaneous goods & services (at 2.6 percent). Meanwhile, core inflation came in at 3.7 percent, unchanged from the previous month and slightly below market expectations of 3.8 percent. On a monthly basis, consumer prices fell 0.1 percent, after increasing 0.2 percent in July.

2019-08-08
Hungary Inflation Rate Slows to 5-Month Low in July
Hungary's annual inflation rate eased to 3.3 percent in July of 2019 from 3.4 percent in the previous month and in line with market expectations. It was the lowest rate since February, as transport cost declined (-1.1 percent vs 0.5 percent in June) while recreation & culture prices went up at a softer pace (1.6 percent vs 2.6 percent). Meanwhile, cost advanced faster for food & non-alcoholic beverages (5.8 percent vs 5.6 percent); alcoholic beverages & tobacco (8.9 percent vs 7.3 percent); miscellaneous goods & services (2.6 percent vs 2.3 percent) and health (3.9 percent vs 3.8 percent) while inflation was steady for housing & utilities (at 2.3 percent); furniture & household equipment (at 2.5 percent) and restaurants & hotels (at 6.4 percent). Meantime, core inflation edged down to 3.7 percent, its lowest level since February, from 3.8 percent in the prior month. On a monthly basis, consumer prices increased 0.2 percent, after a 0.2 percent drop in June.

2019-07-09
Hungary June Inflation Rate at 4-Month Low of 3.4%
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.


Hungary Inflation Rate
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.

Hungary Prices Last Previous Highest Lowest Unit
Inflation Rate 4.00 3.40 31.00 -1.40 percent [+]
Inflation Rate Mom 0.30 0.10 2.10 -0.70 percent [+]
Harmonised Consumer Prices 110.96 110.66 110.96 29.31 points [+]
Consumer Price Index CPI 1331.40 1327.70 1331.40 152.40 points [+]
Core Consumer Prices 451.20 449.90 451.20 102.90 points [+]
Core Inflation Rate 3.90 4.00 26.31 -0.60 percent [+]
GDP Deflator 161.12 159.98 161.12 34.13 points [+]
Producer Prices 102.10 101.50 111.30 96.50 points [+]
Producer Prices Change 2.10 1.50 11.30 -3.50 percent [+]
Export Prices 101.40 101.60 111.50 89.80 points [+]
Import Prices 99.60 99.70 113.00 89.50 points [+]
CPI Transportation 104.00 100.10 122.00 91.70 points [+]
Food Inflation 5.70 5.20 18.50 -2.70 percent [+]