Published on: 2 February 2021

Industrial producer prices rise by 6.8% in December 2020 and by 4.2% in 2020 on average compared to one year earlier

Industrial producer prices as a whole were 6.8% higher in December 2020 than a year earlier. The rate of increase of prices was influenced primarily by the weakening of the forint against the euro. Domestic output prices were up by 2.6% and non-domestic output prices by 9.0%. Compared to the previous month, domestic output prices rose by 1.5% and non-domestic output prices by 0.8%, so producer prices as a whole went up by 1.0%. In 2020, industrial producer prices were 4.2% higher than in 2019.

In December 2020 compared to December 2019:

Domestic output prices were 2.6% higher on average, within which prices rose by 2.7% in manufacturing, representing a weight of 63%, and by 2.0% in energy industry (electricity, gas, steam and air conditioning supply), with a weight of 32%.

Prices in Hungary went up by 1.6% in energy and intermediate producer branches together, by 5.9% in capital goods producer and by 2.7% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices were 9.0% higher, within which the price rise was 8.3% in manufacturing, representing a weight of nearly 95%, and 18% in energy industry, with a weight of 4.9%, compared to December of the previous year.

In 2020 compared to previous year:

Industrial producer prices as a whole were 4.2% higher. Domestic output prices rose by 0.9% on average, within which manufacturing prices were up by 2.0% and energy industry prices were cut by 1.9%.

Industrial domestic output prices diminished by 1.6% in energy and intermediate producer branches and increased by 6.4% in capital goods producer and by 5.2% in consumer goods producer branches out of the end-use groups of the producer branches of industry.

Industrial non-domestic output prices rose by 6.0%, within which manufacturing prices were 6.6% higher and prices in energy industry, representing a small weight, an average 7.4% lower.

Industrial price indices

(same period of previous year=100.0)

(%)

Year, month Domestic output Non-domestic output Producer price index, total
2019 December103.3101.9102.4
2020 January103.7103.8103.8
February103.1104.2103.8
March101.5105.7104.3
April99.1106.1103.7
May97.4103.9101.7
June98.9105.2103.1
July99.8105.3103.4
August100.4105.2103.6
September101.0107.3105.2
October101.3108.3105.9
November101.3107.7105.5
December102.6109.0106.8