Industrial Producer Prices Up by 42.7% Year-on-year

Industrial producer prices rose by 42.7% on average in September 2022 in Hungary, compared to one year earlier. Domestic output prices were 66.2% and non-domestic output prices 30.7% higher, the Central Statistical Office reports.

The higher rate of increase in domestic output prices was owing to the larger proportion of the energy industry there, where a significant price rise occurred. In addition to the steep rise in energy prices, the rise in base material prices and the weakening of the forint also had a price-raising effect. Compared to the previous month, domestic output prices increased by 2.5%, non-domestic prices by 1.5% and industrial producer prices as a whole by 1.8%.

In September 2022 compared to September 2021:

– Domestic output prices were 66.2% higher on average, within which they rose by 39.5% in manufacturing, representing a weight of 62%, and by 137% in the energy industry (electricity, gas, steam and air conditioning supply), with a weight of 33%.

– Prices in Hungary went up by 90.0% in energy and intermediate producer branches together, by 18.5% in capital goods producer and by 35.9% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

– Industrial non-domestic output prices were 30.7% higher, within which the price rise was 26.3% in manufacturing, representing a weight of 96%, and – owing to a drastic increase in world market prices – 168% in the energy industry, with a weight of 3.8%.

In January–September 2022 compared to January–September 2021:

– Domestic output prices rose by 47.4%, non-domestic output prices by 24.6% and industrial producer prices as a whole by 32.3%