Industrial Producer Prices Down 6.6% y.o.y. in October


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Industrial producer prices in Hungary were 6.6% lower on average in October 2023 compared to a year earlier, according to data published by the Central Statistical Office (KSH).

Compared to October 2022 domestic output prices went up by 0.4% on average, within which they decreased by 0.7% in manufacturing, representing a weight of 65%, and there was a rise of 0.4% in the energy industry (electricity, gas, steam, and air conditioning supply), with a weight of 30%. Food industry output prices were practically unchanged (+0.1%).

Prices in Hungary were 1.5% lower in energy and intermediate producer branches together and increased by 3.5% in capital goods producer and by 4.1% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were cut by 9.9%, within which the prices were 4.5% lower in manufacturing, representing a weight of 90%, and 51.3% lower in the energy industry, with a weight of 9.8%.

In January-October 2023, domestic output prices rose by 31% and non-domestic output prices by 0.9%, so industrial producer prices as a whole were 10.8% higher compared to the same period last year.

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