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Industrial producer prices up 1.5%

Industrial producer prices as a whole in Hungary were 1.5% higher in October 2019 than in the same period of the previous year, with prices influenced mostly by changes in world market prices of raw and base materials and by wage growth, according to data by the Central Statistical Office (KSH).

Domestic output prices increased by 1.7% on average, within which the prices of manufacturing, representing a weight of 67%, rose by 2.6% and those of energy industry (electricity, gas, steam and air conditioning supply), with a weight of 28%, decreased by 0.7% compared to a year earlier.

Prices rose by 5.9% in capital goods producer and by 6.2% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Non-domestic output prices went up by 1.4% compared to October 2018. Prices increased by 2.4% in manufacturing, representing a weight of 96%, and – owing to annual price changes in the international electricity market – were cut by 21% in the energy industry, with a weight of 4.1%.

In the first 10 months of 2019, domestic output prices grew 4.1%, compared to the same period of 2018. Non-domestic output prices increased by 1.2%, meaning that industrial producer prices as a whole rose by 2.1%, KSH says.