Industrial producer prices down 0.5% in November

Figures

Image by Pixabay

Hungary’s industrial producer prices were down 0.5% on average in November 2016, compared to the same month of 2015, with domestic sales prices rising by 1.3% in manufacturing but dropping by 4.5% in electricity, gas, steam and air conditioning supply, the Central Statistical Office (KSH) said today in a first reading of data.

The decrease in world market prices of energy sources over a prolonged period affected the figures for electricity, gas, steam and air conditioning supply, the KSH noted.

Industrial domestic sales prices decreased by 0.4%, while industrial export sales prices were down by 0.5% in November, compared to a year earlier.

As far as industrial domestic sales prices are concerned, of the end-use groups of the producing branches of industry, prices were reduced by 1.3% in energy and intermediate producing branches due to price developments of energy sources, according to the KSH. At the same time, prices rose by 1.1% in capital goods producing and by 1.9% in consumer goods producing branches, the KSH added.

Within industrial export sales prices, manufacturing prices were 0.2% lower, while prices of electricity, gas, steam and air conditioning supply, representing less weight, were 10.0% lower, also due to a decrease in world market prices of energy sources, according to the KSH.

In the January-November period, domestic sales prices were cut by 3.4% and export sales prices by 1.1%, so that industrial producer prices as a whole were 1.9% lower compared to the corresponding period a year earlier, according to KSH data.

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.