Industrial Producer Prices: an Annual Increase of 35%

Industrial producer prices went up by 35.0% on average in June 2022 in Hungary compared to one year earlier, the Central Statistical Office reports.

Domestic output prices were higher by 44.6%, non-domestic output prices grew by 30.1%. The large difference is mainly due to the different weight of energy industry sales in the domestic and export sales channels.

The rate of increase of prices was influenced principally by the price rises of base materials and energy and by the weakening of the HUF exchange rate. Compared to the previous month, prices of domestic output rose by 2.6%, non-domestic output by 3.4%, industrial producer prices as a whole by 3.1%.

In June 2022 compared to June 2021:
Domestic output prices increased by 44.6% on average, within it prices were higher by 36.3% in manufacturing, representing a weight of 62%, and by 67.1% in the energy industry (electricity, gas, steam and air conditioning supply), with a weight of 33%.

Prices in Hungary went up by 57.5% in energy and intermediate producer branches together, by 16.3% in capital goods producer and by 26.3% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices grew by 30.1%, within it the price rise was 25.0% in manufacturing, representing a weight of 96%, and – owing to an increase in world market prices – 181% in energy industry, with a weight of 3.8%.

In January–June 2022 compared to January–June 2021:
Domestic output prices were up by 40.2% and non-domestic output prices by 21.4%, thus industrial producer prices increased as a whole by 27.8%.