Industrial Producer Prices 7.9% Higher Than a Year Earlier

Industrial producer prices were 7.9% higher on average in November 2024 than one year earlier. Domestic output prices were 3.2% and non-domestic output prices 10.2% higher than in November 2023. The price rise was primarily caused by the weakening of the Hungarian currency, the forint against the euro and the world market price of energy being higher than earlier on, the Central Statistical Office (KSH) reported this Tuesday.

Compared to the previous month, domestic output prices were 3.0%, non-domestic output prices 4.9%, so industrial producer prices as a whole 4.3% higher.

In November 2024 compared to November 2023:
Domestic output prices increased by 3.2% on average, within which those in manufacturing, a section representing a weight of 60.0%, by 4.2% and those in the energy industry (electricity, gas, steam and air conditioning supply), a section with a weight of 38.6%, by 0.5%. Food industry output prices rose by 3.5%.

Prices in Hungary were up by 2.3% in energy and intermediate producer branches together, by 7.9% in capital goods producer and by 3.3% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were 10.2% higher, within which the prices rose by 6.8% in manufacturing, representing a weight of 82.9%, and by 22.3% in the energy industry, with a weight of 16.7%.

In January–November 2024 compared to January–November 2023:
Domestic output prices lessened by 2.1% and non-domestic output prices increased by 1.5%, so industrial producer prices as a whole were 0.3% higher.