Industrial Producer Prices Down 2.3% y.o.y. in August

Figures

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Industrial producer prices in Hungary were 2.3% lower on average in August 2023 compared to one year earlier, according to data published by the Central Statistical Office (KSH).

Domestic output prices increased by 8.6% on average, within which the price rise was 2.2% in manufacturing, representing a weight of 65%, and – partly owing to amendments to the regulation of the administrative price – 18.4% in the energy industry (electricity, gas, steam, and air conditioning supply), with a weight of 30%. Food industry output prices were up by 9.3%.

Prices in Hungary rose by 7.5% in energy and intermediate producer branches together, by 6% in the capital goods producer, and by 11.5% in the consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were cut by 7.6%, within which the prices were 0.9% lower in manufacturing, representing a weight of 90%, and 61% lower in the energy industry, with a weight of 9.8%.

In January-August 2023, domestic output prices went up by 37.7% and non-domestic output prices by 3.4%, so industrial producer prices as a whole were 14.6% higher

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