Hungary - Consumer Price Index (CPI)





Hungary: Consumer Price Index (CPI)

Mnemonic CPI.IHUN
Unit Index 2005=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 0.7 %
Data Feb 2024 238.59
Jan 2024 236.93

Series Information

Source National Bank of Hungary (MNB)
Release Consumer Price Index
Frequency Monthly
Start Date 1/31/1976
End Date 2/29/2024

Hungary: Price

Reference Last Previous Units Frequency
Consumer Price Index (CPI) Feb 2024 238.59 236.93 Index 2005=100, NSA Monthly
Producer Price Index (PPI) Jan 2024 93.2 92.8 Corresponding period of previous year=100, NSA Monthly

Release Information

For Hungary, the consumer price index (CPI) is calculated monthly and covers the whole country and all private households. It is the measure of the price changes of goods and services intended for household consumption.

  • Classification: COICOP
  • Measurements:
    • Moving-base index relative to same month of previous year (Index CPPY=100)
    • Percent change month-on-month (% M/M)
    • Percent change year-on-year (% Y/Y)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start date: Uniformly 1993m1

The source writes:

The selection of representative items (goods and services) as well as the outlets are based on information from various sources (retail trade, regional offices etc.) The purposive selection is concentrated on the volume selling items and outlets proportionate to size. In case of seasonal products „markets” are also selected for price observation.  At present there are approximately 900 items to be observed monthly in 35–150 outlets depending on their character. Altogether more than seventy-thousand prices are collected monthly.

All items to be observed are specified according to quality, trade mark, type etc. In certain cases the price collectors have some freedom to select different varieties in different outlets, but they have to leave them unchanged within a given outlet till the selected commodity satisfies the criteria of representatives and expected continuous availability. Substitutions are controlled centrally when necessary. Prices (price indices) for seasonal items are imputed when needed. Certain items like consumption from own production, credit charges, direct taxes, second-hand transactions – except cars – are excluded.

The weights used for the compilation of the Consumer Price Index represent the ratio of goods and services within the final monetary consumption of households. The weights based on the data of the National Accounts (NA) completed with the data of Household Budget Survey (HBS) and other additional sources. The weights are revised annually and they refer to the household expenditure structure of the t-2 year.

The CPI is a fixed base weighted index (Laspeyres type). The weights of the 156 basic headings are the same every month throughout the year.

The price relatives of the representative items are calculated by dividing the average price of the given item of the current month by the average price of the base month. The price index of the 156 basic headings is the weighted mean of the price relatives of the included representative items. The price indices of the main groups and the total consumption are the weighted average of 156 basic headings.

Moody's Analytics supplements

We back-extend using IMF IFS, and construct a fixed-base index in NSA and SA terms, relative to 2005. We use the U.S. Census Bureau's X-13 ARIMA program.

Yes, with each update.

Further reading

At the source:

At related sources:

At IMF (SDDS Plus):