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Industrial producer prices up 22.4% y.o.y. in February

Manufacturing

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Industrial producer prices were 22.4% higher on average in February 2022 than a year earlier, according to a report by the Central Statistical Office (KSH).

Compared to February 2021, domestic output prices rose by 35.6% on average, within which the price rise was 24.4% in manufacturing, representing a weight of 62%, and 64.5% in the energy industry (electricity, gas, steam, and air conditioning supply), with a weight of 33%.

Prices in Hungary increased by 48.5% in energy and intermediate producer branches together, by 9.3% in capital goods producer, and by 15.6% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were 15.7% higher, within which the price rise was 10.6% in manufacturing, representing a weight of 96%, and – owing to an increase in world market prices – 173% in the energy industry, with a weight of 3.8%.

In January-February 2022, domestic output prices rose by 35.7% and non-domestic output prices by 15.6%, meaning industrial producer prices as a whole were up by 22.4% compared to the first two months of 2021.

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