Industrial Producer Prices Up by 25.9% in Hungary

Industrial producer prices were 25.9% higher on average in Hungary in March 2022 than a year earlier. Domestic output prices were up by 39.4% and non-domestic output prices by 19.0%, the country's Central Statistical Office reports.

The rate of increase of prices was influenced principally by rises in base material and energy prices as well as in wages and by the weakening of the forint exchange rate against the euro. Compared to the previous month, domestic output became 4.6% and non-domestic output 5.0% more expensive, so industrial producer prices as a whole increased by 4.8%.

In March 2022 compared to March 2021:
Domestic output prices rose by 39.4% on average, within which the price rise was 27.3% in manufacturing, representing a weight of 62%, and 70.9% in energy industry (electricity, gas, steam and air conditioning supply), with a weight of 33%.

Prices in Hungary increased by 53.4% in energy and intermediate producer branches together, by 10.5% in capital goods producer and by 18.1% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were up by 19.0%, within which the price rise was 12.9% in manufacturing, representing a weight of 96%, and – owing to an increase in world market prices – 234% in energy industry, with a weight of 3.8%.

In January–March 2022 compared to January–March 2021:
Domestic output prices were 36.9% and non-domestic output prices 16.7%, so industrial producer prices as a whole 23.6% higher.