According to data from the first quarter of 2026 household savings survey by the National Bank of Hungary (MNB), both households’ perception of inflation and their inflation expectations have declined significantly. A large proportion of households plan to save in the coming year.
The latest round of the central bank’s quarterly data collection program was conducted after the start of the war in Iran but before significant market turbulence emerged. In households’ expectations regarding their financial situation, the proportion of those expecting a deterioration in their financial situation continued to decline among both working-age (from 31% to 28%) and retired (from 48% to 44%) primary earners.
The median one-year-ahead inflation expectation fell to 7.2% from 8.2% in the fourth quarter of 2025, while the two-year-ahead expectation fell to 6.9% from 7.9%. Both figures remain above the MNB’s inflation target. The level of perceived inflation over the past year fell from 12.2% to 9.9%.
The proportion of households with a working-age primary earner planning to save in the coming year rose by 3 percentage points to 57%. The increase in family benefits at the beginning of the year may have contributed to this growth. Plans to take out loans decreased significantly across all loan types.
By mid-March, approximately 40% of the State Debt Management Center’s (ÁKK) net retail financing plan for this year had been fulfilled. A survey by the central bank indicates increased interest among retirees; it also shows the growing popularity of short-term securities.
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