Hungary’s consumer price inflation moderated further in December to the lowest level in more than a year, the Hungarian Central Statistical Office said on Tuesday.
Consumer prices climbed 3.3 percent year-on-year in December, slower than the 3.8 percent rise in November. Economists had expected inflation to remain stable at 3.3 percent.
Further, this was the lowest inflation rate since October 2024, when prices rose 3.2 percent.
Nonetheless, the inflation rate is still above the central bank’s target of 3.0 percent.
Core inflation also softened to 3.8 percent from 4.1 percent a month ago, as expected.
Inflation based on food slowed to 2.6 percent from 3.2 percent, and the annual price growth in fuel and power eased to 8.9 percent from 9.8 percent. Meanwhile, costs for services grew at a faster pace of 6.8 percent versus 6.5 percent in November.
On a monthly comparison, consumer prices increased at a steady rate of 0.1 percent.
The average annual inflation rate for the year 2025 was 4.4 percent, largely driven by a 6.7 percent spike in costs for services.
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