Inflation rate in Hungary 2010-2023

Over the observed period the inflation rate in Hungary only reached negative values in 2014 and 2015. According to the Hungarian National Bank, in 2023, the country's inflation rate recorded a 17.6 percent increase compared to the previous year. According to the findings of a survey conducted among the population in 2022, the majority of Hungarians expected the yearly inflation rate to reach six to eight percent.

Fighting rising prices

As of January 2022, inflation rate for food totaled over 10 percent in the country, making it the product group with the second biggest price increase, right after motor fuels. In February 2022, Hungary’s prime minister, Viktor Orbán introduced price caps on basic food products such as cooking oil, flour, sugar, milk, pork leg, and chicken breast as a means to fight peaking inflation rates.

Hungarians’ purchasing power per capita

As of 2022, the highest purchasing power per person was recorded in the country’s capital, Budapest where residents had on average 129 percent at their disposal to spend or put into savings. At the same time, Komárom-Esztergom was the second wealthiest county in Hungary with purchasing power per capita totaling 111 percent.