An official forecast already exists that makes it possible to estimate the pension increase likely to occur in January 2027. The latest forecast from the Magyar Nemzeti Bank (MNB) projects an annual inflation rate of 2.3 percent for 2027. However, this does not guarantee that the pension increase will exactly match this figure. Here is what the current forecast would mean for pensions of various amounts.
Although the exact level of the 2027 pension increase is not yet known, there is already data available that provides an idea of
what to expect.
Economic forecast
In its inflation report published in June 2026, the Magyar Nemzeti Bank forecast an average annual inflation rate of 2.3 percent for 2027. In the same forecast, the MNB projects inflation of 1.8 percent for 2026 and 3 percent for 2028.
This is particularly important for pensioners because, under Hungarian regulations, the pension increase in January is closely linked to the projected inflation rate for the year in question.
How the January pension increase is determined
According to the Act on Social Security
Pensions, established pensions must be increased every January by a percentage corresponding to the projected…
the increase in consumer prices for that year.
However, one detail is important: the projected inflation rate forming the basis for the pension increase is not determined directly by the MNB’s forecast, but rather by the State Budget Act.
In other words, the current figure of 2.3 percent serves as an important reference point, but it cannot be regarded as the final percentage for the pension increase in January 2027.
percent increase
