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Factory gate prices up 4.1% in April

Industrial producer prices in Hungary rose 4.1% year-on-year in April, show data released by the Central Statistical Office (KSH) on Monday. Factory gate prices for domestic sales were up 6.4%, while export prices increased 3.0%.

The 12-month rise accelerated from a nearly one-year low of 2.7% in February and March, lifted in part by base effects. The KSH noted wage growth, the weakening of the forint and global oil market price trends among factors affecting the rising prices.

Within domestic output, prices in the manufacturing sector (representing a weight of 67%) rose by 5.4%, while prices in the energy industry (electricity, gas, steam, and air conditioning supply, with a weight of 28%) rose by 8.0% compared to a year earlier.

Of the end-use groups of the producing branches of industry, prices in Hungary increased by 7.1% in the energy and intermediate producing, by 5.1% in the capital goods producing, and by 4.9% in the consumer goods producing branch.

Within industrial export prices, a price increase of 2.9% occurred in manufacturing (representing a weight of 96%), and – owing to annual price changes on the international electricity market – a price increase of 7.5% in the energy industry (with a weight of 4.1%).

In January–April 2019, compared to the first four months of 2018, domestic output prices went up by 5.8% and export prices by 2.2%, meaning industrial producer prices as a whole were 3.3% higher year-on-year in the period.

Industrial producer prices for May 2019 will be published on June 28.