Industrial producer prices up 14.8% y.o.y. in July

Figures

Industrial producer prices were 14.8% higher on average in July 2021 than a year earlier, with high raw material and motor fuel prices as well as the weakness of the forint against the euro contributing to the rate of increase, according to data by the Central Statistical Office (KSH).

Compared to July 2020, domestic output prices were 18.3% higher on average, within which the price rise was 14.9% in manufacturing, representing a weight of 63%, and 26.1% in energy industry (electricity, gas, steam and air conditioning supply), with a weight of 31%.

Prices in Hungary went up by 24.5% in energy and intermediate producer branches together, by 6.4% in capital goods producer and by 5.1% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices rose by 13%, within which the price increase was 9.2% in manufacturing, representing a weight of 95%, and – owing to a rise in world market prices, a weakening of the forint, and a fall of raw materials prices in the base period – 117.4% in energy industry, with a weight of 4.5%.

Compared to June 2021, domestic output prices rose by 3.3% and non-domestic output prices by 3.6%, meaning that industrial producer prices as a whole increased by 3.5%.

In January-July 2021, domestic output prices increased by 10.9%, while non-domestic output prices rose by 9.9% compared to the first seven months of 2020. Industrial producer prices as a whole went up by 10.3%.

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