Hungary’s factory prices up by nearly 8 percent
Factory gate prices in Hungary rose 7.9pc year-on-year in November, data released by the Central Statistics Office (KSH) on Tuesday show.
Factory prices
KSH said PPI rose mainly because of the weakening of the forint against the euro and an increase in global energy prices. Prices for domestic sale increased 3.2pc and export prices climbed 10.2pc. Domestic prices of the manufacturing sector, which have a 60.0pc weight in the PPI, rose 4.2pc year-on-year. Domestic energy prices, which account for 38.6pc of PPI, edged up 0.5pc.
Export prices of the manufacturing sector, which have an 82.9pc weight in the PPI, rose 6.8pc, while energy export prices, with a 16.7pc weight, climbed 22.3pc. In a month-on-month comparison, factory gate prices rose 4.3pc as prices for domestic sale climbed 3.0pc and export prices increased 4.9pc. In January-November, factory gate prices inched up 0.3pc year-on-year as prices for domestic sale dropped 2.1pc and export prices rose 1.5pc.
read also: The American dollar broke a new psychological barrier against forint
Industrial price indices
(same period of previous year = 100.0%) (%)
| Year, month | Domestic output | Non-domestic output | Producer price index, total |
|---|---|---|---|
| 2023 November | 98.1 | 91.1 | 93.4 |
| December | 96.4 | 91.1 | 92.8 |
| 2024 January | 92.4 | 93.7 | 93.2 |
| February | 94.2 | 96.5 | 95.7 |
| March | 94.8 | 98.1 | 97.0 |
| April | 95.0 | 99.6 | 98.0 |
| May | 96.1 | 101.7 | 99.8 |
| June | 99.8 | 104.2 | 102.7 |
| July | 101.4 | 103.0 | 102.5 |
| August | 101.2 | 104.0 | 103.0 |
| September | 99.3 | 101.7 | 100.9 |
| October | 99.5 | 104.1 | 102.6 |
| November | 103.2 | 110.2 | 107.9 |
After two years of stagnation, the Hungarian economy looks poised for recovery in 2025, driven by wage growth, government initiatives, and increased investment. Read details HERE: Is the Hungarian economy set to revive in 2025 after years of stagnation?