Industrial Producer Prices Fall in December

Manufacturing

Industrial producer prices in Hungary were 7.2% lower on average in December 2023 compared to one year earlier, the Central Statistical Office (KSH) reports.

Compared to December 2022, domestic output prices were 3.6% lower on average, within which there was a decrease of 3.1% in manufacturing, representing a weight of 65%, and of 5.6% in the energy industry, with a weight of 30%. Food industry output prices lessened by 3.6%.

Prices in Hungary were 6.2% lower in energy and intermediate producer branches together and increased by 4.4% in capital goods producer and by 1% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were reduced by 8.9%, within which the prices were 3.2% lower in manufacturing, representing a weight of 90%, and 50.6% lower in the energy industry, with a weight of 9.8%.

Industrial Producer Prices Rise 7.8% in 2023

Industrial producer prices as a whole were 7.8% higher in 2023 than in the previous year. Domestic output prices were up by 25.4% on average, within which manufacturing prices grew by 9.2% and energy industry prices by 62.7%.

Industrial domestic output prices rose by 31.7% in energy and intermediate producer branches, by 7.5% in the capital goods producer, and by 17.4% in the consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices decreased by 0.7%, within which manufacturing prices were 3.8% higher and prices in energy industry, representing a small weight, an average 33.2% lower.

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