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Industrial producer prices up 3.8%

Industrial producer prices were about 3.8% higher in February 2020 than in the same period of 2019, with wage growth, forint exchange rate changes, and the development of the world market prices of raw and base materials influencing the price rise, according to data by the Central Statistical Office (KSH).

Domestic output prices increased by 3.1% on average compared to February 2019, within which the prices of manufacturing, representing a weight of 63%, rose by 5.4%. Prices in the energy industry (electricity, gas, steam and air conditioning supply), with a weight of 32%, were down 1.3%.

Prices rose by 1.3% in energy and intermediate producer branches and by 7.2% in both capital goods producer and consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were up 4.2% higher, within which prices increased by 5.3% in manufacturing, representing a weight of nearly 95%, and – owing to annual price changes in the international electricity market – were cut by 17% in the energy industry, with a weight of 4.9%.

Compared to the same period of 2019, domestic output prices increased by 3.4% in the first two months of 2020, while non-domestic output prices went up by 4%. Industrial producer prices as a whole rose by 3.8%.