Industrial Producer Prices Up by 28.8%

Industrial producer prices were 28.8% higher on average in Hungary in April 2022 than a year earlier. Domestic output prices were up by 42.6% and non-domestic output prices by 21.8%, the Central Statistical Office reported this Tuesday.

The rate of increase of prices was influenced principally by growths in base material and energy prices as well as in wages and by the weakening of the forint exchange rate. Compared to the previous month, domestic output became 3.9% and non-domestic output 2.5% more expensive, so industrial producer prices as a whole rose by 2.9%.

In April 2022 compared to April 2021:
Domestic output prices increased by 42.6% on average, within which prices grew by 31.5% in manufacturing, representing a weight of 62%, and by 71.3% in energy industry (electricity, gas, steam and air conditioning supply), with a weight of 33%.
Prices in Hungary rose by 56.3% in energy and intermediate producer branches together, by 12.8% in capital goods producer and by 22.3% 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 21.8%, within which the price rise was 16.2% in manufacturing, representing a weight of 96%, and – owing to an increase in world market prices – 199% in energy industry, with a weight of 3.8%.

In January-April 2022 compared to January-April 2021:
Domestic output prices were 38.3% and non-domestic output prices 18.0%, so industrial producer prices as a whole 24.9% higher.