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Factory gate prices edge up 0.3% y-o-y in July

Prices for domestic sales were up 2.8%, while export prices inched down 0.9%, the Central Statistical Office (KSH) said on Monday. The development of prices was influenced by changes in raw material and world market prices and by wage growth.

In a month-on-month comparison, industrial producer prices were up 0.3% from June, as domestic prices were down 0.1% and export prices were up 0.5%.

Within domestic output prices, prices in the manufacturing sector (representing a weight of 67%) rose by 2.6%, while prices in the energy industry (electricity, gas, steam and air conditioning supply, with a weight of 28%) rose by 2.5% compared to a year earlier.

Of the end-use groups of the producing branches of industry, prices in Hungary increased by 1.8% in energy and intermediate producing, by 4.1% in capital goods producing, and by 5.3% in consumer goods producing branches.

Within export prices, there was a price decrease of 0.4% in manufacturing (representing a weight of 96%), and – owing to annual price changes in the international electricity market – of 12% in the energy industry (with a weight of 4.1%).

In January–July 2019, compared to the first seven months of 2018, domestic output prices went up by 4.9%, while export prices rose by 1.2%, meaning industrial producer prices as a whole were 2.3% higher over the period.

Industrial producer prices for August 2019 will be published on September 30.