PPI up 11.3% y.o.y. in May

Figures

In May 2021, industrial producer prices rose by 11.3% compared to one year earlier and decreased by 0.1% compared to April 2021, according to data by the Central Statistical Office (KSH).

The rate of increase of prices was influenced by the change of the forint exchange rate against the euro and by the price rise of raw and base materials, the statistical agency notes.

Compared to May 2020, domestic output prices were 14.4% higher on average, within which the price rise was 14.1% in manufacturing, representing a weight of 63%, and 16% in the energy industry (electricity, gas, steam, and air conditioning supply), with a weight of 31%.

Prices in Hungary went up by 19.8% y.o.y. in energy and intermediate producer branches together, by 3.1% in capital goods producer and by 3.9% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices rose by 9.6% y.o.y., within which the price increase was 6.8% 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 – 79.9% in energy industry, with a weight of 4.5%.

In January-May 2021, domestic output prices increased by 8.6%, non-domestic output prices by 9.3%, and industrial producer prices as a whole by 9.1% compared to the same period of 2020..

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