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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.