FX.co ★ Hungary Inflation Slows in May

Hungary’s annual inflation rate eased to 1.8% in May 2026, down from a three‑month high of 2.1% in April and below market expectations of 2.3%. The deceleration was driven mainly by weaker price growth in food (0.5% vs 1.5% in April), alcoholic beverages and tobacco products (3.3% vs 4.1%), and consumer durables (2.4% vs 2.7%). At the same time, household energy prices fell by 2.0%, following a 0.4% decline in the previous month.

By contrast, prices rose at a faster pace for clothing (1.1% vs 0.8%), for other goods including miscellaneous items and fuels (0.4% vs 0.1%), and for services (4.3% vs 4.0%). On a monthly basis, consumer prices were flat in May, after a 0.4% increase in April.

Meanwhile, annual core inflation—which excludes volatile components such as food and energy—slowed to 2.0% from 2.2% in April, undershooting market forecasts of 2.3%.