Change in consumer prices in member states of the European Union, March 2026

Released: 11 May 2026

Harmonised index of consumer prices (HICP)

According to the harmonised index of consumer prices, ensuring the comparability of inflation in EU member countries, consumer prices were 2.8% higher on average in the European Union in March 2026 than in the same period of the previous year. Within the EU, inflation was highest in Romania (9.0%) and lowest in Denmark (1.0%). Hungary was among countries with relatively low inflation, with an average consumer price rise of 2.1%. Out of Visegrád countries, there was a price increase of 3.7% in Slovakia, of 3.2% in Poland and of 1.5% in Czechia.

Compared to the previous month, consumer prices rose by 1.1% in the EU as a whole and by 0.5% in Hungary.

National consumer price index (CPI)

According to national consumer price indices, too, published on the website of national statistical offices – and suitable for international comparisons only to a limited extent –, consumer prices rose the most (by 9.9%) in Romania in March 2026 compared to a year earlier. In Hungary, inflation was 1.8% according to this methodology.

In Hungary, food prices stagnated compared to March 2025. Food prices were reduced by 3.2% excluding food and beverage serving services. The highest price increases were recorded for other bakery products (13%) and buffet products (9.7%) within the product group. However, canned meat, margarine, potatoes, pork fat, butter, milk, milk products, flour, pork, oils and fats as well as cheese became 10–26% cheaper, in addition, the price of other food items (for example, sugar, poultry meat, edible oil and bread) lessened as well – to a lower extent than that of the previous ones. The consumer price of electricity, gas and other fuels rose by 4.3%, within which 7.9% more was to be paid for natural and manufactured gas and 2.4% more for electricity than in the same month of the previous year. Motor fuels cost 3.0% less, while alcoholic beverages and tobacco and consumer durables 5.5% and 2.7% more, respectively, for consumers. Service charges were 4.1% higher in total than a year earlier, within which the prices of theatre tickets and recreation abroad went up the most (by 19% and 18%, respectively).

The National Bank of Hungary forecast an inflation rate of 3.8% for 2026 in its Inflation Report in March. This is 0.6 percentage point higher than what was expected when the previous inflation report (of December 2025) was prepared. The difference was mostly due to increasing uncertainties on the energy market because of the conflict in the Middle East causing a substantial upward inflationary risk. The annual average rate of consumer price rise in the European Union may be 2.1% according to the expectations of the European Commission in autumn 2025.

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