April 5, 2023
Industrial producer prices rose by 29.0% on average in February 2023 compared to one year earlier. Domestic output prices were up by 56.4% and non-domestic output prices by 15.8%. The faster growth in domestic output prices was due to the proportion of the energy industry, where a significant price increase occurred, being much larger in the domestic than in the non-domestic output. In addition to the steep rise in energy prices, the increase in base material prices, the growth of wages and the weakening of the forint – over one year – also had a price-raising effect. Compared to the previous month, domestic output prices decreased by 1.3% and non-domestic output prices by 2.6%, so industrial producer prices as a whole lessened by 2.2%.
In February 2023 compared to February 2022:
Domestic output prices increased by 56.4% on average, within which they were 27.6% higher in manufacturing, representing a weight of 65%, and – owing to a drastic increase in world market prices and to amendments to the regulation of the administrative price – 127% higher in the energy industry (electricity, gas, steam and air conditioning supply), with a weight of 30%.
Prices in Hungary rose by 73.3% in energy and intermediate producer branches together, by 13.7% in capital goods producer and by 34.1% 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 15.8%, within which the price increase was 17.9% in manufacturing, representing a weight of 90%, and 6.4% in the energy industry, with a weight of 9.8%.
In January–February 2023 compared to January–February 2022:
Domestic output prices were 58.6% and non-domestic output prices 18.0% higher, so industrial producer prices as a whole increased by 31.3%.
Source: Hungarian Central Statistical Office
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