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Industrial producer prices up 3.4%

Industrial producer prices as a whole were 3.4% higher in July 2020 than in the same period of the previous year, according to data released by the Central Statistical Office (KSH).

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KSH says that the development of prices was influenced by the changes in economic trends inflicted by the coronavirus pandemic.

Domestic output prices went down by 0.2% on average, within which prices were 1.8% higher in manufacturing, representing a weight of 63%, and 4.7% lower in the energy industry, with a weight of 32%.

Prices in Hungary were cut by 3% in energy and intermediate producer branches and rose by 5.6% in capital goods producer and by 5.1% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were 5.3% higher, within which the prices of manufacturing, representing a weight of nearly 95%, increased by 6%, while the prices of the energy industry, with a weight of 4.9%, were lowered by 9.5%.

In the first seven months of the year, domestic output prices went up by 0.5% and non-domestic output prices by 4.9%, so industrial producer prices as a whole were 3.4% higher.