Prices

The development of prices influences the quantity of production and consumption, and their structure as well. Price statistics typically observe the temporal change in the price of goods put on the market, though there are spatial price indices (e.g. purchasing power parity), too. The consumer price index quantifies changes in consumer prices, differently, producer price indices observe price changes from the point of view of producers. There are also cost-based price indices (e.g. of agriculture, labour force), which show the development of production costs over time. External trade price indices provide information on the price development of goods exports and imports.

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Prices rose by 0.2% compared to September and by 3.0% compared to the same period of the previous year, Consumer prices, October 2020

The annual rate of increase of consumer prices slowed down to 3.0% in October 2020. The lower price dynamics were mostly due to more moderate annual price rises for food, alcoholic beverages and tobacco than in September as well as to the price decrease of motor fuels. Consumer prices rose by 0.2% on average in one month, compared to September.

Increase of agricultural producer prices accelerates further in August

As crop products prices were up by 13%, the rise of agricultural producer prices accelerated, which thus as a whole were 6.7% higher in August than a year earlier. Fruits prices rose outstandingly (by 46%), mainly due to peach and plum, both representing a significant weight in this period. Then again, live animals and animal products became 3.9% cheaper on average, for the procurement price of slaughter pigs was cut as a result of the market situation having changed owing to the epidemic.

Industrial producer prices rise by 5.2%, Industrial producer prices, September 2020

Industrial producer prices as a whole were 5.2% higher in September 2020 than in the same period of the previous year. The rate of increase of prices was influenced by the forint exchange rate weakening against major currencies and by changes in the prices of raw and base materials. Non-domestic output prices were up by 7.3% and domestic output prices by 1.0%.

Agricultural producer and input prices, 1st half 2020

Agricultural producer prices were up by 6.5% in the 1st half of 2020 compared to the 1st half of the previous year. Within this, the price rise of live animals and animal products (8.9%) was more substantial than that of crop products (5.2%). The increase of the former was primarily due to the price rise of pigs for slaughter, and that of the latter mainly to the price increase of fruits. There was a smaller rise in input prices (0.2%) than in producer prices, so agricultural terms of trade went on improving.

Postal and courier services became more expensive by almost 10% in the second quarter

Prices for observed services rose by an average of 2.0% in the second quarter of 2020 compared to a year earlier. Most services cost more: in particular (9.5%) postal and courier services, mainly due to higher postal and parcel delivery charges. Parcel delivery charges have been increased due to the epidemic. Security and investigation services (8.5%) and cargo handling (6.8%) also became significantly more expensive, while telecommunications charges continued to fall.

Procurement price of pigs for slaughter further cut in May

The May 2020 procurement price of pigs for slaughter was cut by 3.3% compared to a year earlier and by 15% compared to the previous month. This was among others owing to the declining turnover of restaurants and hotels, which was one of the consequences of the measures introduced in many European countries to contain the spread of the epidemic. For major poultry breeds, procurement prices also lessened compared to one year earlier except for turkeys for slaughter. Honey prices substantially rose.