Inflation Hungary 2022
Average inflation: 14.5%
Inflation in 2022
Inflation is very high at 14.5%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 24.5%. The lowest inflation was in January at 7.9%.
- Highest month
- December: 24.5%
- Lowest month
- January: 7.9%
- Difference
- 16.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 27.6%. The lowest price increase was in Communication with an average of -1.4%.
- Highest increase
- Food and non-alcoholic beverages: 27.6%
- Lowest increase
- Communication: -1.4%
Historical Context
Inflation is 8.7 percentage points higher than the 5-year average of 5.8%. This approaches the highest level since records began (14.5% in 2022).
- 5-year average
- 5.8%
- 10-year average
- 3.3%
- All-time high (2022)
- 14.5%
- All-time low (2014)
- -0.2%
Trend
Over the period 2020-2022, inflation shows an upward trend. Compared to 2021, inflation has risen by 9.4 percentage points.
- Change vs. previous year
- +9.4 percentage points
- Largest monthly swing
- December: +17.1 percentage points
ECB Target
Inflation is 12.5 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for HUF 100 this year will cost approximately HUF 115 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 7.9% | +5.2 |
| February | 8.3% | +5.2 |
| March | 8.5% | +4.8 |
| April | 9.5% | +4.4 |
| May | 10.7% | +5.6 |
| June | 11.7% | +6.4 |
| July | 13.7% | +9.1 |
| August | 15.6% | +10.7 |
| September | 20.1% | +14.6 |
| October | 21.1% | +14.6 |
| November | 22.5% | +15.1 |
| December | 24.5% | +17.1 |
| Average | 14.5% |
Data source
Data from OECD. Last updated: 13/01/2026.