6 out of 10 companies are planning a price increase

By: Trademagazin Date: 2024. 07. 24. 12:12

According to the results of the April half-year business cycle survey of the MKIK Economic and Entrepreneurship Research Institute, 61 percent of domestic businesses expect their domestic sales prices to rise in the next semester. This shows a significant decrease compared to the figures of the previous three years, which were stable above 70 percent, returning to the level seen in April 2021.

According to the results of the survey, 23 percent of businesses expect their prices to increase less than inflation, which is lower than last year’s rate of 32-33 percent. 33 percent of the respondents forecast a price increase equal to inflation, while only 5 percent indicated a price increase greater than inflation, reports Pénzcentrum.

According to 35 percent of company managers, their sales prices will not change in the coming semester, which means a significant increase compared to the last semester. In April last year, 22 percent of businesses expected price stagnation, and in October, this proportion dropped to 20 percent. According to this year’s survey, 4 percent of businesses believe that their domestic sales prices will decrease, which was 5 percent in the fall.

The majority of businesses expecting a price increase (62 percent) believe that a price increase of less than 10% is likely, while 30 percent of them forecast a 10-15% increase. A price increase of at least 16 percent was mostly indicated by construction companies (15%), while 9 percent in the services sector, 8 percent in commerce, and 5 percent in industry expect similar price increases.