Industrial Producer Prices Up by 1.5%

Industrial producer prices as a whole were 1.5% higher in October 2019 than in the same period of the previous year, Hungary’s Central Statistical Office reports this Tuesday. The development of prices was influenced by changes in world market prices of raw and base materials and by wage growth.

Domestic output prices increased by 1.7% on average, within which the prices of manufacturing, representing a weight of 67%, rose by 2.6% and those of energy industry (electricity, gas, steam and air conditioning supply), with a weight of 28%, decreased by 0.7% compared to a year earlier. Non-domestic output prices went up by 1.4% compared to October of the previous year.

During the same period, industrial domestic output prices were up by 1.7%. Prices in Hungary were reduced by 0.5% in energy and intermediate producer branches and rose by 5.9% in capital goods producer and by 6.2% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were 1.4% higher, within which prices increased by 2.4% in manufacturing, representing a weight of 96%, and – owing to annual price changes in the international electricity market – were cut by 21% in energy industry, with a weight of 4.1%.