Industrial producer prices lessen by 6.6% in October 2023 compared to a year earlier and by 0.6% compared to previous month
Industrial producer prices were 6.6% lower on average in October 2023 compared to one year earlier. Domestic output prices rose by 0.4% and non-domestic output prices decreased by 9.9%. The large difference was primarily due to domestic output prices in the energy industry – producing goods basically for the domestic market, within which representing a large weight – being still higher than a year earlier, while non-domestic output prices there being already substantially lower. The development of industrial producer prices was influenced also by the annual strengthening of the forint against the euro. Compared to the previous month, both domestic output prices and non-domestic output prices lessened by 0.6%, so industrial producer prices as a whole were down by 0.6%, too.
In October 2023 compared to October 2022:
Domestic output prices went up by 0.4% on average, within which they decreased by 0.7% in manufacturing, representing a weight of 65%, and there was a rise of 0.4% in the energy industry (electricity, gas, steam and air conditioning supply), with a weight of 30%. Food industry output prices were practically unchanged (+0.1%).
Prices in Hungary were 1.5% lower in energy and intermediate producer branches together, and increased by 3.5% in capital goods producer and by 4.1% in consumer goods producer branches out of the end-use groups of the producer branches of industry.
Industrial non-domestic output prices were cut by 9.9%, within which the prices were 4.5% lower in manufacturing, representing a weight of 90%, and 51.3% lower in the energy industry, with a weight of 9.8%.
In January–October 2023 compared to January–October 2022:
Domestic output prices rose by 31.0% and non-domestic output prices by 0.9%, so industrial producer prices as a whole were 10.8% higher.
Industrial price indices
(same period of previous year = 100.0)
(%)
| Year, month | Domestic output | Non-domestic output | Producer price index, total |
|---|---|---|---|
| 2022 October | 167.7 | 128.4 | 141.7 |
| November | 163.7 | 123.4 | 137.0 |
| December | 162.9 | 120.7 | 134.9 |
| 2023 January | 160.8 | 120.2 | 133.5 |
| February | 156.4 | 115.8 | 129.0 |
| March | 148.2 | 108.8 | 121.7 |
| April | 141.9 | 103.3 | 115.9 |
| May | 136.5 | 98.9 | 111.2 |
| June | 129.8 | 95.0 | 106.4 |
| July | 119.5 | 92.4 | 101.3 |
| August | 108.6 | 92.4 | 97.7 |
| September | 107.8 | 92.5 | 97.5 |
| October | 100.4 | 90.1 | 93.4 |