A significant proportion of domestic business leaders expect price rises in Hungary. Most firms are forecasting price increases in line with inflation.
In April 2023, a total of 2,061 heads of domestic enterprises reported on the expected development of domestic sales prices and export prices as part of the semi-annual business cycle survey of the Economic and Business Research Institute (Gazdaság- és Vállalkozáskutató Intézet, GVI), GVI said in a statement sent to Forbes.hu.
74 percent of respondents plan to raise sales prices in the next six months. That is 8 percentage points fewer than in October 2022. For the first time since April 2022, the share of businesses expecting a price increase has fallen compared to the previous six months. However, the share of businesses planning to increase prices remains above the pre-pandemic level.
36 percent of firms forecast price rises in line with inflation. The share of firms expecting prices to rise more than inflation fell from 15 percent to 6 percent compared with the previous half-year. In line with the decrease in the share of firms expecting price increases, the share of firms expecting no change in their sales prices in the next six months increased from 15 to 22 percent.
Companies with 10-49 employees and 50-249 employees are the most likely to expect sales prices to rise (78-81 percent). Meanwhile, construction (77 percent), services (76 percent) and trade (84 percent) are the most likely to expect the same in terms of sectors.
As we just reported, fuel prices are certain to skyrocket this autumn in Hungary. Read details HERE.
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