Industrial producer prices rise by 35.0% in January 2023 compared to one year earlier and by 0.8% compared to previous month
Industrial producer prices were 35.0% higher on average in January 2023 than one year earlier. Domestic output prices were up by 64.7% and non-domestic output prices by 20.5%. 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 and the weakening of the forint – over one year – also had a price-raising effect. Compared to the previous month, domestic output prices rose by 5.7% and non-domestic output prices were cut by 1.5%, so industrial producer prices as a whole were up by 0.8%.
In January 2023 compared to January 2022:
Domestic output prices were 64.7% higher on average, within which they were up by 31.1% 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 – by 152% in the energy industry (electricity, gas, steam and air conditioning supply), with a weight of 30%.
Prices in Hungary were 85.5% higher in energy and intermediate producer branches together, 15.2% higher in capital goods producer and 36.8% higher in consumer goods producer branches out of the end-use groups of the producer branches of industry.
Industrial non-domestic output prices rose by 20.5%, within which the price increase was 21.2% in manufacturing, representing a weight of 90%, and 25.4% in the energy industry, with a weight of 9.8%.
Industrial price indices
(same period of previous year = 100.0)
(%)
| Year, month | Domestic output | Non-domestic output | Producer price index, total |
|---|---|---|---|
| 2022 January | 135.7 | 115.5 | 122.3 |
| February | 135.6 | 115.7 | 122.4 |
| March | 139.4 | 119.0 | 125.9 |
| April | 142.6 | 121.8 | 128.8 |
| May | 143.3 | 126.7 | 132.3 |
| June | 144.6 | 130.1 | 135.0 |
| July | 152.7 | 130.4 | 137.9 |
| August | 166.6 | 131.6 | 143.4 |
| September | 166.2 | 130.7 | 142.7 |
| October | 167.7 | 128.4 | 141.7 |
| November | 163.7 | 123.4 | 137.0 |
| December | 162.9 | 120.7 | 134.9 |
| 2023 January | 164.7 | 120.5 | 135.0 |