Inflation, consumer prices for Hungary
FPCPITOTLZGHUN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.70
Year-over-Year Change
-34.47%
Date Range
1/1/1973 - 1/1/2024
Summary
The Inflation, consumer prices for Hungary metric tracks changes in the cost of a basket of consumer goods and services in Hungary. It is a key indicator of economic conditions and monetary policy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Inflation, consumer prices for Hungary series measures the rate of change in prices paid by Hungarian consumers for a representative basket of goods and services. It is a widely used metric for assessing the overall price level in the Hungarian economy and the effectiveness of the country's monetary policy.
Methodology
The data is collected through surveys of prices paid by Hungarian households and aggregated by the Hungarian Central Statistical Office.
Historical Context
Policymakers and economists closely monitor the consumer price inflation trend to guide monetary and fiscal decisions.
Key Facts
- Hungary's annual inflation rate was 25.2% as of December 2022.
- The consumer price index reached a record high in Hungary in November 2022.
- Rapid inflation has prompted the Hungarian central bank to raise interest rates.
FAQs
Q: What does this economic trend measure?
A: The Inflation, consumer prices for Hungary metric tracks changes in the overall price level of consumer goods and services in the Hungarian economy.
Q: Why is this trend relevant for users or analysts?
A: This inflation indicator is closely watched by policymakers, businesses, and consumers to assess the state of the Hungarian economy and the effectiveness of monetary policy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of prices paid by Hungarian households and aggregated by the Hungarian Central Statistical Office.
Q: How is this trend used in economic policy?
A: Policymakers use the consumer price inflation data to guide monetary policy decisions, such as setting interest rates, to maintain price stability and support economic growth.
Q: Are there update delays or limitations?
A: The consumer price inflation data for Hungary is typically released on a monthly basis with a short lag, allowing for timely analysis of economic conditions.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for Hungary (FPCPITOTLZGHUN), retrieved from FRED.