Industrial Producer Prices up 37% y.o.y. in November
Image by Pixabay
Industrial producer prices in Hungary rose by 37% on average in November 2022 compared to one year earlier, according to data published by the Central Statistical Office (KSH).
The faster growth in domestic output prices was due to the proportion of the energy industry, where a significant price increase occurred, being much larger in the domestic than in the non-domestic output. In addition to the steep rise in energy prices, the rise in base material prices and the weakening of the forint also had a price-raising effect, according to KSH.
Compared to November 2021, domestic output prices were 63.7% higher on average, within which they rose by 35.6% in manufacturing, representing a weight of 62%, and – owing to a drastic increase in world market prices and to amendments to the regulation of the administrative price – by 131% in the energy industry (electricity, gas, steam, and air conditioning supply), with a weight of 33%.
Prices in Hungary went up by 82.9% in energy and intermediate producer branches together, by 16.2% in capital goods producer, and by 39.4% in consumer goods producer branches out of the end-use groups of the producer branches of industry.
Industrial non-domestic output prices were 23.4% higher, within which the price rise was 21.6% in manufacturing, representing a weight of 96%, and 59% in the energy industry, with a weight of 3.8%.
In January-November 2022, domestic output prices rose by 50.7%, non-domestic output prices by 24.8%, and industrial producer prices as a whole by 33.6% compared to the same period of 2021.
MET Group Records 2nd Most Profitable Year in 2023
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
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.
