Hungary’s three major telecommunications providers — Magyar Telekom, Yettel and One — have announced price increases in the coming months after the expiry of a voluntary price restraint agreement requested by the former government last year.
Telecom giants raise prices
The companies confirmed that they are reintroducing inflation-linked fee adjustments, with prices set to rise by 4.4%, matching Hungary’s average annual inflation rate for 2025 as published by the Central Statistical Office (KSH).
The move comes after former National Economy Minister Márton Nagy urged telecom firms and banks in April 2025 to refrain from increasing prices voluntarily, warning that the government could otherwise introduce official fee caps. Telecom providers agreed not to raise prices during 2025, but that self-imposed moratorium has now expired.
Magyar Telekom to increase prices from July
Magyar Telekom announced in its first-quarter financial report published on the Budapest Stock Exchange website that it has begun preparations for implementing the inflation-linked fee correction.
The company said a 4.4% increase will take effect from 1 July 2026. However, customers who signed contracts for tariff packages introduced after 12 March 2026 will not be affected, meaning those package prices will remain unchanged, according to HVG.
Yettel confirms July fee correction
Yettel stated on its website that the fee adjustment will be implemented by 31 July 2026 and will also amount to 4.4%.
The increase will apply to monthly fees for post-paid mobile voice services, portable internet subscriptions and home internet packages signed before the adjustment date. However, call charges, SMS fees and optional supplementary services will remain unchanged.
Yettel also stressed that customers will not be entitled to terminate their contracts solely because of the price increase.
The company added that tariff packages with EU roaming data allowances will also see proportional increases in roaming data limits where applicable. Customers will be informed via SMS and billing notifications in due course.
One to raise mobile subscription fees in September
One, formerly operating as Vodafone Hungary, confirmed to Portfolio that it will reintroduce inflation-linked fee corrections from 1 September 2026.
The company said the 4.4% increase will apply to standard monthly subscription fees before discounts, while existing monthly discounts will remain unaffected.
One also clarified that the increase will not affect optional package fees, supplementary monthly charges or traffic-based charges.
Unlike its mobile services, the company said it would not apply automatic inflation-linked increases to fixed-line television, telephone and home internet services this year. However, it plans to restructure its tariff and discount systems from August, which could result in some packages or discounts being discontinued — potentially increasing monthly costs for certain customers.
If you missed it: Former government’s last hit is a HUF 1.3 trillion deal with Orbán-affiliated company, documents show
Banks also begin raising fees
The end of the voluntary restraint period is not only affecting telecom customers. Several major banks in Hungary have also begun implementing inflation-linked fee increases.
According to reports, OTP Bank is increasing a wide range of banking fees by around 4%, including account maintenance, card issuance and ATM withdrawal charges.
CIB Bank is introducing even steeper increases, combining both the missed 2025 adjustment and the 2026 inflation correction, resulting in fee hikes of more than 8%.
Other major lenders, including K&H Bank, Raiffeisen Bank, Erste Bank and UniCredit Bank, have also introduced or announced inflation-linked increases.
What’s next? EU security push could force two Chinese telecom giants out of the market: what this means for Hungary
