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74 percent of businesses operating in Hungary said they plan to raise prices in the next six months, according to a survey by the MKIK Institute of Economic and Business Research. The willingness to increase prices mainly concerns commercial businesses, Világgazdaság reports.
As part of its biannual business survey, the Institute of Economic and Business Research asked 2,061 business leaders in April about their plans for the coming year and showed that 74 percent of domestic businesses plan to raise their prices in the next six months.
The number of firms planning to increase prices remains above the levels seen before the Covid outbreak.
36 percent of firms plan to introduce inflation-linked price rises in the next six months.
Six percent plan to raise prices by more than the rate of consumer price increases. Six months earlier, this figure was 15 percent. Twenty-two percent of firms surveyed said they would not raise prices in six months.
Small and medium-sized enterprises are the main ones planning to introduce higher prices (78 and 81 percent respectively).
The willingness to raise prices is higher among wholly Hungarian-owned businesses than among foreign-owned ones (76 and 68 percent individually).
For domestic firms selling for export, the survey showed that 39 percent intend to raise prices. Interestingly, six months earlier, the number was much higher, with 63 percent talking about increasing prices.
Via Világgazdaság, Featured photo via Facebook/Thai Minh Tam
