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Energy commodity price inflation in Hungary increased significantly in August 2022. In that month, gas price inflation reached 114.1 percent. Energy commodity prices have increased in light of the Russia-Ukraine war and an ongoing fuel supply shortage. However, since July 2023, energy commodity price inflation has shown a decline in the country.

Harmonized index of consumer prices (HICP) energy inflation rate in Hungary from January 2019 to May 2024, by commodity

Characteristic	Energy	Gas	Electricity
May '24	4.6%	-4.6%	-3%
Apr '24	2.1%	-8.6%	-2.9%
Mar '24	0.1%	-6.4%	-3.2%
Feb '24	-5%	-17.9%	-3.3%
Jan '24	-11.7%	-23.2%	-3.5%
Dec '23	-7.8%	-27.6%	-3.5%
Nov '23	1.2%	-34%	-3.5%
Oct '23	4.4%	-33.3%	-3.4%
Sep '23	9.1%	-31.2%	-3.1%
Aug '23	10.8%	-30.5%	18.8%
Jul '23	23.6%	47.6%	26.4%
Jun '23	22%	44.1%	27%
May '23	26.3%	49.9%	27.6%
Apr '23	33.5%	59.2%	27.7%
Mar '23	34.7%	62.7%	27.9%
Feb '23	39%	77%	28%
Jan '23	43.9%	86.2%	28.1%
Dec'22	38.7%	94.4%	28.1%
Nov'22	27.1%	119.5%	28.6%
Oct'22	28.3%	120.1%	29%
Sep'22	32%	116.1%	29.2%
Aug '22	27.3%	114.1%	5.8%
Jul '22	8.9%	0.9%	0%
Jun '22	11.8%	0.8%	0%
May '22	7%	0.8%	0%
Apr '22	8.1%	0.8%	0%
Mar '22	7.3%	0.5%	0%
Feb '22	11.2%	0.5%	0%
Jan '22	13.2%	0.4%	0%
Dec '21	14.9%	0.5%	0%
Nov '21	21%	0.3%	0%
Oct '21	17.3%	0.2%	0%
Sep '21	12.3%	0.2%	0%
Aug '21	12.2%	0.2%	0%
Jul '21	11.2%	0.2%	0%
Jun '21	13.1%	0.2%	0%
May '21	18.6%	0.1%	0%
Apr '21	19.6%	0.1%	0%
Mar '21	9.9%	0%	0%
Feb '21	2.8%	0%	0%
Jan '21	-1.8%	0%	0%
Dec '20	-2.5%	0.1%	0%
Nov '20	-4.1%	0.1%	0%
Oct '20	-2.8%	0%	0%
Sep '20	-1.8%	0%	0%
Aug '20	-2.5%	0%	0%
Jul '20	-2.3%	0%	0%
Jun '20	-6.4%	0%	0%
May '20	-12.3%	0.1%	0%
Apr '20	-12.5%	0.1%	0%
Mar '20	-1.1%	0.1%	0%
Feb '20	4.2%	0.2%	0%
Jan '20	7.3%	0.2%	0%
Dec '19	4.3%	0.2%	0%
Nov '19	0.2%	0.2%	0%
Oct '19	-2%	0.2%	0%
Sep '19	-2.3%	0.5%	0%
Aug '19	-1.1%	0.6%	0%
Jul '19	-0.9%	0.9%	0%
Jun '19	-0.3%	1%	0%
May '19	3.6%	1.1%	0%
Apr '19	4.2%	1.1%	0%
Mar '19	2.5%	1%	0%
Feb '19	-0.3%	1%	0%
Jan '19	-1%	1%	0%

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Release date

June 2024

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Region

Hungary

Survey time period

January 2019 to May 2024

Supplementary notes

According to the source, the Harmonized Indices of Consumer Prices (HICP) measure changes in the prices of consumer goods and services over time. These indices provide comparable measures of inflation.

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