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Factory gate prices up 2.7% y-o-y in March

Industrial producer prices in Hungary rose 2.7% year-on-year in March, the Central Statistical Office (KSH) reported on Tuesday. Prices for domestic sale were up 5.5% compared to March 2018, while export prices rose 1.4%.

The producer price index was unchanged from the previous month, when it declined to the lowest level in nearly a year.

The KSH said that the rate of price rises in March was influenced by wage growth, forint exchange rate changes and world petroleum market price trends.

Within domestic output, prices in manufacturing (representing a weight of 67% of the total) rose by 4.8%, while prices in the energy industry (electricity, gas, steam and air conditioning supply, with a weight of 28%) rose by 6.8% compared to a year earlier.

Of the end-use groups of the producing branches of industry, prices in Hungary increased by 6.2% in energy and intermediate producing, by 4.7% in capital goods producing, and by 3.8% in consumer goods producing branches.

Within export output prices, a price increase of 1.5% occurred in manufacturing (representing a weight of 96%), and – owing to price changes on the international electricity market – a price decrease of 0.4% in the energy industry (with a weight of 4.1%).

In January–March 2019, compared to the first quarter of 2018, domestic output prices went up by 5.6% and export prices by 1.9%, meaning industrial producer prices as a whole were 3.1% higher year-on-year.

Industrial producer prices for April 2019 will be published on June 3.