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Industrial producer prices up 3.7% y.o.y. in April

Industrial producer prices as a whole were 3.7% higher in April 2020 than in the same month of 2019, with the coronavirus pandemic affecting the development of prices, according to data released by the Central Statistical Office (KSH).

Compared to April 2019, domestic output prices were reduced by 0.9% on average, within which the prices of manufacturing, representing a weight of 63%, decreased by 0.1% and the prices of energy industry (electricity, gas, steam and air conditioning supply), with a weight of 32%, were 2.8% lower.

Prices in Hungary decreased by 4.6% in the energy and intermediate producer branches and rose by 7.4% in capital goods producer, and by 6.9% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices rose 6.1%, within which prices increased by 7.6% in manufacturing, representing a weight of nearly 95%, and were cut by 21% in the energy industry, with a weight of 4.9%.

In the first four months of 2020, domestic output prices increased by 1.9% compared to the same period of the previous year, while non-domestic output prices rose by 5%. Industrial producer prices as a whole went up by 3.9% compared to January-April 2019.