Hungary’s inflation rate jumped unexpectedly to 5.5% in January, reaching its highest level in 13 months and challenging Prime Minister Orban’s earlier claims of victory over price increases.
The surge, particularly evident in food prices and services, has forced the central bank to maintain the EU’s highest interest rate at 6.5% and postpone its inflation target timeline.
This development threatens Orban’s political standing ahead of next year’s elections as Hungarians grapple with rising living costs.