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.

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