Industrial producer prices 9.0% higher in December 2024 than a year earlier and 0.3% higher than in previous month and rise by 1.0% on average in 2024
Industrial producer prices were 9.0% higher on average in December 2024 than one year earlier. Domestic output prices were 4.0% and non-domestic output prices 11.5% higher than in December 2023. The price rise was primarily caused by the weakening of the forint exchange rate against the euro. Compared to the previous month, domestic output prices were 0.1% and non-domestic output prices 0.4%, so industrial producer prices as a whole 0.3% higher. In 2024, domestic output prices decreased by 1.6% and non-domestic output prices rose by 2.4%, so industrial producer prices together were 1.0% higher than in 2023.
In December 2024 compared to December 2023:
Domestic output prices increased by 4.0% on average, within which those in manufacturing, a section representing a weight of 60.0%, by 5.6% and those in the energy industry (electricity, gas, steam and air conditioning supply), a section with a weight of 38.6%, by 0.5%. Food industry output prices rose by 4.5%.
Prices in Hungary were up by 3.4% in energy and intermediate producer branches together, by 7.5% in capital goods producer and by 4.0% in consumer goods producer branches out of the end-use groups of the producer branches of industry.
Industrial non-domestic output prices were 11.5% higher, within which the prices rose by 8.1% in manufacturing, representing a weight of 82.9%, and by 26.9% in the energy industry, with a weight of 16.7%.
In 2024 compared to previous year:
Industrial producer prices as a whole were 1.0% higher. Domestic output prices fell by 1.6% on average, within which manufacturing prices increased by 1.1% and energy industry prices went down by 7.4%.
Industrial domestic output prices lessened by 3.4% in energy and intermediate producer branches and were up by 5.5% in capital goods producer and by 0.7% in consumer goods producer branches out of the end-use groups of the producer branches of industry.
Industrial non-domestic output prices grew by 2.4%, within which the prices were 3.4% higher in manufacturing and an average 7.6% lower in the energy industry, representing a small weight.
Industrial price indices
(same period of previous year = 100.0%)
(%)
| Year, month | Domestic output | Non-domestic output | Producer price index, total |
|---|---|---|---|
| 2023 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 |
| December | 104.0 | 111.5 | 109.0 |