🇭🇺Hungary inflation rate
released 16 Oct 2026 · data through September 2026 · next release expected 31 Oct 2026
Hungary sits outside the euro area, with its own currency and central bank. Harmonised inflation (HICP) — the EU-harmonised measure that makes prices comparable across Europe — stands at 2.1% as of September 2026. That is 0.9 percentage points below the MNB's 3% target, and 1.7 points below the eurozone average of 3.8%.
The breakdown shows core (excluding energy and food) at 3.7%, energy at 5.2%, food at −2.7% and services at 5.5%. The strongest pressure is in services (5.5%), while food is the softest (−2.7%).
Month on month the headline rose from 1.8% to 2.1%, extending the climb.
Hungary ranks number 28 of 30 European economies by annual inflation, from highest to lowest, between Denmark and Switzerland.
Harmonised inflation (HICP) is 2.1% as of September 2026 — that is 0.9 percentage points below the MNB's 3% target.
Inflation by year
Inflation in Hungary averaged 4.4% in 2025, higher than in 2024 (3.7%).
| Year | Annual average | December, year on year |
|---|---|---|
| 2026 so far | – | 2.1% (September) |
| 2025 | 4.4% | 3.3% |
| 2024 | 3.7% | 4.8% |
| 2023 | 17.0% | 5.5% |
| 2022 | 15.3% | 25.0% |
| 2021 | 5.2% | 7.4% |
| 2020 | 3.4% | 2.8% |
| 2019 | 3.4% | 4.1% |
| 2018 | 2.9% | 2.8% |
| 2017 | 2.4% | 2.2% |
| 2016 | 0.4% | 1.8% |
Annual average: the average HICP index of the year compared with the previous year's average, as Eurostat publishes it (prc_hicp_ainr) — not an average of the monthly rates. December: the year-on-year rate of that month (prc_hicp_minr). The current year shows the latest monthly year-on-year rate.
Compare with the rest of Europe on the European inflation ranking →
Work out what money from the past is worth today: Inflation Calculator Hungary →
Frequently asked questions
- What is Hungary's current inflation rate?
- Hungary's annual inflation rate, measured by the harmonised index of consumer prices (HICP), is 2.1% as of September 2026.
- Is Hungary's inflation above or below the MNB's 3% target?
- At 2.1%, it is 0.9 percentage points below the National Bank of Hungary's 3% target.
- How does Hungary's inflation compare with the rest of Europe?
- Hungary ranks number 28 of 30 European economies by inflation, 1.7 points below the eurozone average of 3.8%.
- Did Hungary's inflation rise or fall last month?
- Month on month, the headline rate rose from 1.8% to 2.1% in September 2026.
- What was inflation in Hungary in 2025?
- Inflation in Hungary averaged 4.4% in 2025, higher than in 2024 (3.7%). In December 2025, the year-on-year rate was 3.3%.
- What was inflation in Hungary over the last 10 years?
- Between 2016 and 2025, annual average inflation in Hungary ranged from 0.4% in 2016 to 17.0% in 2023. The mean of the annual rates over those years was 5.8%.