匈牙利股票指数 (BUX) 加自选

2025年10月，匈牙利的年通货膨胀率稳定在4.3%，与前三个月持平，略低于市场预测的4.4%。价格上涨的主要压力来自酒精饮料和烟草制品（9月份为7.5%对7.1%）、电力、天然气和其他燃料（10.7%对10.6%）以及服务（6.7%对5.9%）。相比之下，食品（3.9%对4.7%）、服装（1.7%对2.4%）、耐用消费品（2.4%对2.5%）和其他商品（包括汽车燃料（0.2%对0.6%））的通货膨胀有所缓和。按月计算，消费者价格连续第三个月保持不变。不包括食品和能源等波动性项目的年度核心通胀率从上一时期的3.9%上升到10月份的4.2%，超过了4.1%的预测，创下四个月来的最高水平。

Hungary’s annual inflation rate held steady at 4.3% in October 2025, matching the previous three months and slightly below the market forecast of 4.4%. Main upward pressures on prices came from alcoholic beverages and tobacco products (7.5% vs 7.1% in September), electricity, gas and other fuels (10.7% vs 10.6%), and services (6.7% vs 5.9%). In contrast, inflation moderated for food (3.9% vs 4.7%), clothing items (1.7% vs 2.4%), consumer durables (2.4% vs 2.5%), and other goods, including motor fuels (0.2% vs 0.6%). On a monthly basis, consumer prices remained unchanged for the third consecutive month. Annual core inflation, which excludes volatile items such as food and energy, rose to 4.2% in October from 3.9% in the prior period, exceeding forecasts of 4.1% and marking its highest in four months.

2025年9月，匈牙利的零售额同比增长3%，而前一个月为2.4%。这标志着自6月以来零售活动的最强劲增长，因为食品、饮料和烟草的销售额增长更快（8月份为3.1%对2.3%）。与此同时，由于书籍、计算机设备和其他专卖店、二手商品以及纺织品、服装和鞋类的销售额下降，非食品产品的贸易增长从8月份的4.9%放缓至3.5%。汽车燃料的销售增长也有所放缓（0.6%对2.2%）。经季节性调整的月度数据显示，9月份零售活动没有变化，较前一时期0.8%的增长有所缓解。

Retail sales in Hungary increased by 3% year-on-year in September 2025 from a 2.4% rise in the previous month. This marked the strongest growth in retail activity since June, as sales rose faster for food, beverages and tobacco (3.1% vs 2.3% in August). Meanwhile, trade growth slowed for non-food products to 3.5% from 4.9% in August, due to lower sales in books, computer equipment and other specialized stores, second-hand goods, and textiles, clothing and footwear. Sales growth also moderated for automotive fuel (0.6% vs 2.2%). On a seasonally adjusted monthly basis, retail activity was unchanged in September, easing from a 0.8% increase in the preceding period.

据初步估计，2025年9月，匈牙利工业生产同比增长1.3%，从前一个月7.3%的下降反弹。这是自3月以来的首次增长，主要是由于计算机、电子、光学产品以及食品、饮料和烟草等关键制造业子行业的产量增加。然而，汽车和电气设备制造业的产量下降。经季节性调整的月度数据显示，工业活动比上月增长1.3%。考虑到今年前九个月，工业产出同比下降3.4%。

Industrial production in Hungary rose by 1.3% year-on-year in September 2025, rebounding from a 7.3% fall in the previous month, according to preliminary estimates. This marked the first growth since March, driven by increased output in key manufacturing sub-sectors such as computers, electronics, optical products, and food, beverages, and tobacco. However, output declined in the manufacture of vehicles and electrical equipment. On a seasonally adjusted monthly basis, industrial activity was 1.3% higher than in the previous month. Considering the first nine months of the year, industrial output was 3.4% lower compared with the same period a year earlier.

初步估计显示，匈牙利2025年第三季度国内生产总值同比增长0.6%，低于市场预测的1%的增长率，但比前三个月0.1%的增长率有所加快。这标志着自2024年第二季度以来最强劲的增长，主要得益于服务业，特别是信息和通信业的综合表现。然而，工业和农业增加值的放缓部分抵消了这一回升。经季节性调整的季度数据显示，继前一时期增长0.4%之后，经济在2025年第三季度停滞不前。

Hungary’s gross domestic product grew by 0.6% year-on-year in the third quarter of 2025, missing market forecasts of a 1% expansion but accelerating from a 0.1% growth in the previous three-month period, preliminary estimates showed. This marked the strongest growth since the second quarter of 2024, mainly driven by the combined performances in the services sector, particularly information and communication. However, the upturn was partially offset by the slowdown in the added value of industry and agriculture. On a seasonally adjusted quarterly basis, the economy stagnated in Q3 2025, following a 0.4% growth in the preceding period.