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Industrial producer prices up 14% y.o.y. in September

Manufacturing

In September 2021, industrial producer prices rose by 14% year-on-year in Hungary, according to data published by the Central Statistical Office (KSH).

The rate of increase of prices was influenced principally by the price rise of raw and base materials as well as motor fuels, KSH notes.

Compared to September 2020, domestic output prices were 20.1% higher on average, within which the price rise was 15.9% in manufacturing, representing a weight of 63%, and 30.2% in energy industry (electricity, gas, steam, and air conditioning supply), with a weight of 31%.

Prices in Hungary went up by 27.7% in energy and intermediate producer branches together, by 5.2% in capital goods producer and by 5.4% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices rose by 10.9%, within which the price increase was 6.2% in manufacturing, representing a weight of 95%, and – owing to a rise in world market prices, and a fall of raw materials prices in the base period – 158.1% in energy industry, with a weight of 4.5%.

In the first nine months of 2021, domestic output prices increased by 12.8%, non-domestic output prices by 10.3%, and industrial producer prices as a whole by 11.1% compared to the same period in 2020.

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