Industrial Producer Prices up 11.2% y.o.y. in May

Figures

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Industrial producer prices in Hungary rose by 11.2% on average in May 2023 compared to one year earlier, according to data released by the Central Statistical Office (KSH).

Compared to May 2022, domestic output prices increased by 36.5% on average, within which the price rise was 9.3% in manufacturing, representing a weight of 65%, and – partly owing to amendments to the regulation of the administrative price – 103% in the energy industry (electricity, gas, steam, and air conditioning supply), with a weight of 30%. Food industry output prices were up by 24.7%.

Prices in Hungary rose by 47.6% in energy and intermediate producer branches together, by 6.6% in capital goods producer and by 22% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices lessened by 1.1%, within which prices were 3.2% higher in manufacturing, representing a weight of 90%, and 29.7% lower in the energy industry, with a weight of 9.8%.

In January-May 2023, domestic output prices were 48.8% and non-domestic output prices 9.4% higher, so industrial producer prices as a whole went up by 22.3%, KSH notes.

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