Manufacture of refined petroleum products calls the shots

Domestic sales prices of industry rose by 1.2% in July 2008 compared to the previous month and were 13.3% higher than in July 2007.

 Export sales prices of industry,
measured in HUF, decreased by 2.1% compared to the previous month and
by 3.4% compared to the corresponding month of the previous year.
Industrial producer prices involving both domestic and export sales
prices were 0.7% lower than in the previous month and 3.7% higher
than a year before.

The rise in domestic sales prices of
industry as a whole (1.2%) compared to the previous month was higher
in July than the 0.7% value measured in June. Domestic sales prices
of manufacturing branches rose by 0.7% compared to the previous
month. The highest monthly price increase was recorded again in the
manufacture of refined petroleum products (3.5%). Aboveaverage price
rises were measured in the manufacture of chemicals, chemical
products and man-made fibres (1.8%) as a consequence of the price increase
of basic materials, as well as in the manufacture of basic metals and
fabricated metal products (1.3%) mainly because of the consecutive
price increase of basic metal materials in each month since February
2008 and as a consequence of the inclusion of energy prices in
production costs.

Considerable price falls were
registered in the manufacture of wood and wood products (1%),
transport equipment (0.9%) as well as in case of leather and leather
products (0.7%). In the rest of manufacturing branches price changes
ranged between a decrease of 0.6% and an increase of 0.3%. The prices
of electricity, gas and water supply, representing a considerable
proportion in domestic sales of industry, increased by a total 2.2%
in July, primarily owing to the administrative gas price increase by
6.1% that came into effect on 1st July.

Compared to July 2007 the highest price
increase within the domestic sales of manufacturing branches was
observed in the manufacture of refined petroleum products (34.8%).
The prices of manufacturing food products, having a significant share
in domestic sales as a whole, and those of manufacturing basic metals
and fabricated metal products both rose by 12.7%. Price falls
occurred only in the manufacture of textiles and textile products
(2.8%). In the remaining manufacturing branches price increases
varied between 0.4% and 7.9%. In manufacturing as a whole, prices
went up by 10.9% in the last twelve months. The prices of
electricity, gas and water supply were 18.3% higher than in the same
period of the previous year.

Among the end-use groups of branches in
domestic sales the prices of energy and intermediate producer
branches showed the highest monthly rise (1.7%) in July again, mainly
because of the price increase measured in energy producer branches
(2.5%). In consumer goods producer branches prices remained unchanged
compared to the previous month. In capital goods producer branches
there was a 0.4% price decline. In July 2008 the highest price
increase was observed in energy and intermediate producer branches
(17.2%) compared to the corresponding month of the previous year. The
prices of consumer goods producing branches went up by 7.4%, while
those of capital goods diminished by 1.8%.

Export sales prices of industry as a
whole measured in HUF declined further by 2.1% in July compared to
the previous month, and decreased by 3.4% compared to July 2007. The
HUF appreciated by 4.4% against the EUR and by 5.7% against the USD
compared to the previous month. Compared to July 2007 the HUF
appreciated by 6% against the EUR and by 18.3% against the USD.