Industrial Producer Prices Up by 5.5%

Industrial producer prices as a whole were 5.5% higher in November 2020 than a year earlier. The rate of increase of prices was influenced primarily by the weakening of the forint against the euro.

As the Hungarian Central Statistical Office reports, domestic output prices were up by 1.3% and non-domestic output prices by 7.7%. Compared to the previous month, domestic output prices increased by 0.5% and non-domestic output prices were lowered by 0.2%, so producer prices as a whole were unchanged.

In November 2020 compared to November 2019:
– Domestic output prices were 1.3% higher on average, within which prices rose by 1.2% in manufacturing, representing a weight of 63%, and by 0.7% in energy industry (electricity, gas, steam and air conditioning supply), with a weight of 32%.

– Prices in Hungary were cut by 0.3% in energy and intermediate producer branches together and went up by 4.6% in capital goods producer and by 3.2% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

– Industrial non-domestic output prices were 7.7% higher, within which the price rise was 7.5% in manufacturing, representing a weight of nearly 95%, and 6.9% in energy industry, with a weight of 4.9%.

In January–November 2020 compared to January–November 2019:
Domestic output prices increased by 0.7% and non-domestic output prices by 5.7%, so industrial producer prices as a whole were 4.0% higher.