Hungary Consumer Price Index Rises to 1.6 Percent

The Hungarian Central Statistical Office reported that Hungary's consumer price index rose by 1.6 percent year-on-year in September, an increase from the 1.3 percent recorded in August. On a monthly basis, consumer prices increased by 0.2 percent.

Service prices provided the primary upward pressure with a 4.9 percent increase, while motor fuels rose by 6.9 percent. These gains were partially offset by a 1.3 percent drop in food prices and a 4 percent decline in electricity, gas, and other fuels. Core inflation, which excludes volatile food and energy items, moderated slightly to 1.9 percent from 2.0 percent in August.

Analysts from Erste Bank noted that the headline figure fell below market consensus. However, the bank warned that rising global energy costs and food prices could create future pressure. Erste Bank forecasts an average inflation rate of 1.8 percent for 2026, projecting a rise to 3.0 percent in 2027.