11.3% Annual Industrial Producer Price Rise in Hungary

Industrial producer prices were 11.3% higher on average in May 2021 than a year earlier. The rate of increase of prices was influenced by the change of the forint exchange rate against the euro and by the price rise of raw and base materials, the Hungarian Central statistical Office reports.

Domestic output prices were up by 14.4% and non-domestic output prices by 9.6%. Compared to the previous month, domestic output prices rose by 1.3%, non-domestic output prices fell by 0.9% and industrial producer prices as a whole by 0.1%.

In May 2021 compared to May 2020:
Domestic output prices were 14.4% higher on average, within which the price rise was 14.1% in manufacturing, representing a weight of 63%, and 16.0% in energy industry (electricity, gas, steam and air conditioning supply), with a weight of 31%.

Prices in Hungary went up by 19.8% in energy and intermediate producer branches together, by 3.1% in capital goods producer and by 3.9% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices rose by 9.6%, within which the price increase was 6.8% 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 – 79.9% in energy industry, with a weight of 4.5%.