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Factory gate prices up 5.1% y-o-y in November

Industrial producer prices in Hungary were up 5.1% in November 2018 compared to the same month in 2017, as prices were affected by wage growth, forint exchange rate fluctuation and petroleum market price changes on the world market, according to the Central Statistical Office (KSH).

Domestic output prices grew by 6.7% on average, with prices in manufacturing, representing a weight of six-tenths, rising by 5.7%. Prices in the energy industry (electricity, gas, steam, and air conditioning supply), with a weight of more than one-third, grew by 9.2% compared to a year earlier.

Of the end-use groups of industryʼs producing branches, prices grew by 8.8% year-on-year in energy and intermediate producing, by 4.2% in capital goods producing, and by 2.1% in consumer goods producing branches.

Industrial export prices rose by 4.3% compared to November 2017. Within export prices, prices rose by 3.7% in manufacturing (representing a weight of 96.4%), and by 22% in the energy industry (with a weight of 3.4%), due to a marked increase in prices on the international electricity market.

In a month-on-month comparison, industrial producer prices were down 0.2% from October, as domestic prices slipped 0.4% and export prices fell 0.2%.

In the first 11 months of 2018, domestic output prices grew by 6.0%, while export prices rose 5.3%, meaning that industrial producer prices as a whole were up 5.5% compared to the corresponding 11-month period of 2017.

Industrial producer prices for December 2018, and for the full year of 2018, will be published on January 31.