Are you sure?

Factory gate prices up 8.1% year-on-year in August

Industrial producer prices rose 8.1% in August from the same month a year earlier, pushed up by increasing wages, higher oil prices and the weakening of the forint, the Central Statistical Office (KSH) said on Friday, Hungarian news agency MTI reported.

Prices for domestic sales were up 8.3%, while export prices rose 8.0% year-on-year in August. 

In a month-on-month comparison, industrial producer prices were down 0.1%, as domestic prices rose 0.7% and export prices fell 0.5%.

Year-on-year, factory gate prices in the manufacturing sector rose 7.6% in August. Producer prices were up 7.6% in vehicle manufacturing, up 4.0% in the computer, electronic and optical products segment, up 11.6% in the chemicals segment, and up 2.8% in the pharmaceuticals segment. Prices in the food, beverages and tobacco segment were up 2.8%. Prices in the gas, electricity and steam supply segment rose 10.9%.

In a month-on-month comparison, producer prices in the manufacturing sector dropped 0.5%. Prices in vehicle manufacturing dropped 1.8%, and were down 0.6% in the computer, electronic and optical products segment, but were up 0.3% both in the chemicals segment and in the pharmaceuticals sector. Producer prices in the food, beverages and tobacco segment rose 0.2%. Prices in the gas, electricity and steam supply segment were up 2.2%.

In January-August 2018, industrial producer prices rose 5.3% year-on-year as domestic prices climbed 5.4% and export prices were up 5.3%.

The KSH will publish September industrial producer price data on October 31.