Magyar Nemzeti Bank sets a 2.5 per cent inflation target with a one point tolerance band

20 October 2026

The Monetary Council of the Magyar Nemzeti Bank has reviewed Hungary's inflation target and set it at a 2.5 per cent annual rise in the consumer price index published by the Hungarian Central Statistical Office. The Council kept the symmetric tolerance band of plus or minus 1 percentage point around the target. The new target comes into effect on 1 January 2028. In its press release on the Monetary Council meeting of 20 October 2026, the central bank repeated that inflation is expected to return to the 2.5 per cent target by the end of the forecast horizon, with the annual average put at 1.8 per cent for 2026 and 3.1 per cent for 2027.