Industrial producer prices up 8.1% y.o.y. in February

Figures

Industrial producer prices as a whole were 8.1% higher in February 2021 than a year earlier, according to data released by the Central Statistical Office (KSH).

The rate of price increase was influenced primarily by the weakening of the forint against the euro, the statistical agency notes.

Domestic output prices were 5.2% higher year-on-year on average, within which the price rise was 5.1% in manufacturing, representing a weight of 63%, and 4.7% in energy industry (electricity, gas, steam and air conditioning supply), with a weight of 31%.

Prices in Hungary went up by 5.6% in energy and intermediate producer branches together, by 4.4% in capital goods producer and by 2.2% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were 9.5% higher, within which the price increase was 7.9% 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 – 42% in energy industry, with a weight of 4.5%.

Compared to January 2021, domestic output prices rose by 1.6% and non-domestic output prices by 1%, so producer prices as a whole increased by 1.2%.

Industrial producer prices up 7.3% y.o.y. in January-February

Compared to the first two months of 2020, domestic output prices went up by 4.1% in January-February 2021. Non-domestic output prices rose by 8.9% year-on-year, meaning that industrial producer prices as a whole were 7.3% higher.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

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.