Industrial producer prices drop 0.8% in May
Industrial producer prices fell by 0.8% on average in May 2014 as compared to the figures of the previous month, the Central Statistics Office (KSH) revealed today.
Producer prices dropped 2.4% year-on-year, according to a KSH report. All of the major manufacturing sectors experienced decreases in their costs between May and April – except for food and pharmaceutical producers, which saw cost increases of 0.3% and 0.2% respectively.
The most significant drop in producer prices was experienced in the area of coke and refined petroleum production (2.4%), electronics and optics production (1.6%), and vehicle production. Prices were 0.9% lower in April in the significant sector of electricity, gas, steam and air-conditioning supply.
While prodcution cost less in May, the amounts that producers made dropped too. Export sales prices – measured in HUF – dropped by 0.7%, both in industry and in manufacturing branches this May compared to the previous month, the KSH reported.
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