KSH: Sales prices in the food industry rose by 13.5 percent

By: Trademagazin Date: 2023. 08. 31. 14:48

In July, industrial producer prices were on average 1.3 percent higher compared to a year earlier. Domestic sales prices increased by 19.5 percent, export sales decreased by 7.6 percent. The sales prices of the food industry rose by 13.5 percent, the Central Statistical Office (KSH) reported on Thursday.

The big difference was primarily caused by the fact that domestic sales prices in the energy industry, which mainly produces for the domestic market and represents a large part of it, were much higher than a year earlier, while export sales prices had already decreased. The increase in the price of raw materials and the increase in production costs, as well as the strengthening of the forint against the euro over the course of a year, also played a role in the development of industrial producer prices.

Compared to the previous month, domestic sales prices increased by 0.4 percent, export sales by 1.1 percent, so industrial producer prices rose by 0.9 percent overall.

Within the average 19.5 percent increase in domestic sales prices, in the manufacturing industry, which represents 65 percent weight, 3.2 percent, in the energy industry (electricity, gas, steam supply, air conditioning) with 30 percent weight – partly as a result of changes in the regulation of official prices – 52.0 percent there was an increase in price. Sales prices in the food industry rose by 13.5 percent.