Industrial Producer Prices Up by 32.3% in Hungary

Industrial producer prices increased by 32.3% on average in May 2022 compared to one year earlier. Domestic output prices were higher by 43.3%, non-domestic output prices grew by 26.7%, Hungary's Central Statistical Office reports.

The rate of increase of prices was influenced principally by the hike in base material and energy prices and by the weakening of the HUF exchange rate. Compared to the previous month, prices of domestic output rose by 1.9%, non-domestic output by 3.0%, industrial producer prices as a whole by 2.6%.

In May 2022 compared to May 2021:
Domestic output prices were higher by 43.3% on average, within it prices grew by 34.4% in manufacturing, representing a weight of 62%, and by 66.8% in the energy industry (electricity, gas, steam and air conditioning supply), with a weight of 33%.

Prices in Hungary rose by 55.6% in energy and intermediate producer branches together, by 16.5% in capital goods producer and by 24.9% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices went up by 26.7%, within it the price rise was 21.0% in manufacturing, representing a weight of 96%, and – owing to an increase in world market prices – 202% in energy industry, with a weight of 3.8%.

In January–May 2022 compared to January–May 2021:
Domestic output prices were up by 39.3% and non-domestic output prices by 19.7%, thus industrial producer prices increased as a whole by 26.4%.