Inflation Hungary 2024
Average inflation: 3.7%
Current Inflation
Inflation is high at 3.7%, well above the ECB target.
Peak and Trough
The highest inflation was in December at 4.6%. The lowest inflation was in September at 3.0%.
- Highest month
- December: 4.6%
- Lowest month
- September: 3.0%
- Difference
- 1.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Communication with an average of 8.6%. The lowest price increase was in Food and non-alcoholic beverages with an average of 0.8%.
- Highest increase
- Communication: 8.6%
- Lowest increase
- Food and non-alcoholic beverages: 0.8%
Historical Context
Current inflation is 5.1% lower than the 5-year average of 8.8%.
- 5-year average
- 8.8%
- 10-year average
- 5.3%
- All-time high (2023)
- 17.6%
- All-time low (2014)
- -0.2%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +13.9 percentage point.
- Change vs. previous year
- -13.9 percentage points
- Largest monthly swing
- January: -21.9 percentage points
ECB Target
Inflation is 1.7% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 3.8% | -21.9 |
| February | 3.7% | -21.7 |
| March | 3.6% | -21.6 |
| April | 3.7% | -20.3 |
| May | 4.0% | -17.5 |
| June | 3.7% | -16.4 |
| July | 4.1% | -13.5 |
| August | 3.4% | -13.0 |
| September | 3.0% | -9.2 |
| October | 3.2% | -6.7 |
| November | 3.7% | -4.2 |
| December | 4.6% | -0.9 |
| Average | 3.7% |
Data source
Data from OECD. Last updated: 11/01/2026.