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Industrial producer prices up 5.2% y.o.y. in September

Manufacturing

Photo by Oscar Sweep / Shutterstock.com

Industrial producer prices as a whole were 5.2% higher in September 2020 than in the same period of the previous year., according to data published by the Central Statistical Office (KSH).

Photo by Oscar Sweep / Shutterstock.com

The rate of increase of prices was influenced by the forint exchange rate weakening against major currencies and by changes in the prices of raw and base materials, KSH notes.

Domestic output prices increased by 1% on average compared to September 2019, within which prices were 1.5% higher in manufacturing, representing a weight of 63%, and 0.3% lower in energy industry (electricity, gas, steam and air conditioning supply), with a weight of 32%.

Prices in Hungary were cut by 1% in energy and intermediate producer branches as a whole and rose by 5.7% in capital goods producer and by 4.4% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were 7.3% higher, within which the prices of manufacturing, representing a weight of nearly 95%, were up by 7.3% and those of energy industry, with a weight of 4.9%, by 5.4%.

In the first nine months of 2020, domestic output prices increased by 0.6% and non-domestic output prices by 5.2% compared to the same period of the previous year. Industrial producer prices as a whole were 3.6% higher.

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