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Factory gate prices up 3.8% y-o-y in January

Industrial producer prices as a whole were 3.8% higher in January 2019 than in the same month of the previous year. Domestic output prices rose by 5.9% on average, while export output prices went up by 2.9% compared to January 2018.

Price growth slowed for the sixth month in a row. The rate of the price rises was influenced by wage growth, forint exchange rate changes, and world petroleum market price trends, the KSH noted.

In a month-on-month comparison, industrial producer prices edged down 0.5%, as domestic prices inched up 0.5% and export prices were down 0.9%.

Within domestic output prices, prices of the manufacturing sector, representing a weight of 67%, rose by 3.6%, while prices in the energy industry (electricity, gas, steam, and air conditioning supply), with a weight of 28%, rose by 11% year-on-year.

Of the producing branches of industry, prices in Hungary increased by 7.2% in energy and intermediate producing, by 3.9% in capital goods producing, and by 2.8% in consumer goods producing branches.

Within industrial export prices, a price increase of 2.2% occurred in manufacturing (representing a weight of 96%), and – owing to a significant price rise in the international electricity market – of 22% in the energy industry (with a weight of 4.1%).

Industrial producer prices for February will be published on March 29.