Over the observed period the inflation rate in Hungary only reached negative values in 2014 and 2015. According to the Hungarian National Bank, in 2022, the country's inflation rate recorded a 14.5 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 2021, the highest purchasing power per person was recorded in the country’s capital, Budapest where residents had on average 9.7 thousand euros 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 8.4 thousand euros.
Inflation rate in Hungary from 2010 to 2022
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Inflation rate
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Hungarian National Bank. (March 1, 2023). Inflation rate in Hungary from 2010 to 2022 [Graph]. In Statista. Retrieved June 18, 2024, from https://www.statista.com/statistics/1193850/hungary-inflation-rate/
Hungarian National Bank. "Inflation rate in Hungary from 2010 to 2022." Chart. March 1, 2023. Statista. Accessed June 18, 2024. https://www.statista.com/statistics/1193850/hungary-inflation-rate/
Hungarian National Bank. (2023). Inflation rate in Hungary from 2010 to 2022. Statista. Statista Inc.. Accessed: June 18, 2024. https://www.statista.com/statistics/1193850/hungary-inflation-rate/
Hungarian National Bank. "Inflation Rate in Hungary from 2010 to 2022." Statista, Statista Inc., 1 Mar 2023, https://www.statista.com/statistics/1193850/hungary-inflation-rate/
Hungarian National Bank, Inflation rate in Hungary from 2010 to 2022 Statista, https://www.statista.com/statistics/1193850/hungary-inflation-rate/ (last visited June 18, 2024)
Inflation rate in Hungary from 2010 to 2022 [Graph], Hungarian National Bank, March 1, 2023. [Online]. Available: https://www.statista.com/statistics/1193850/hungary-inflation-rate/