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Investing.com -- Hungary’s inflation rate could drop to the central bank’s 3% target at the start of 2026, down from levels near 4% recorded in late 2025, Governor Mihaly Varga said Monday.
Speaking at a news conference, Varga noted that investment and consumption in Hungary could recover if the country successfully reduces inflation, which reached over 25% in early 2023, the highest in the European Union. This inflation spike followed Russia’s invasion of Ukraine in February 2022.
The central bank governor also stated that he would aim for stability in the forint, Hungary’s currency. Varga highlighted that foreign exchange reserves worth approximately €50 billion are strengthening the country’s financial stability.
Hungary has been working to bring inflation under control after experiencing some of the highest rates in the EU following the Ukraine conflict.
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