Annual inflation rate in Hungary rose to 3.8 percent in July 2020 from 2.9 percent in the previous month and above market expectations of a 3.3 percent gain. It was the highest inflation rate in four months, driven by higher cost of health (3.9 percent vs 3.6 percent in June); recreation & culture (2.4 percent vs 0.8 percent); education (3.4 percent vs 2.9 percent); furnishings (2.3 percent vs 1.6 percent) and restaurants & hotels (6.6 percent vs 5.5 percent). Also, cost of clothing & footwear rebounded (1 percent vs -0.9 percent); while transport prices fell less (-0.3 percent vs -5.1 percent). Meanwhile, prices slowed for food and non-alcoholic beverages (7.9 percent vs 8 percent) and alcoholic beverages and tobacco (6.8 percent vs 7.2 percent). On a monthly basis, consumer prices went up 1.1 percent, following a 0.4 percent rise in the prior month.
Inflation Rate in Hungary averaged 8.64 percent from 1992 until 2020, 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 August of 2020.
Inflation Rate in Hungary is expected to be 3.00 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 2.20 in 12 months time. In the long-term, the Hungary Inflation Rate is projected to trend around 2.40 percent in 2021 and 3.00 percent in 2022, according to our econometric models.