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Hungary PPI climbs to 3.8% in January

Industrial producer prices rose 3.8% year-on-year in January, the highest rate in a year, state news wire MTI reports citing data released by the Central Statistical Office (KSH) said today.

Prices for domestic sales were up 3.7% while export prices rose 3.8%.

In a month-on-month comparison, industrial producer prices were up 0.9% as both domestic and export prices edged up 0.9%.

KSH said price increases were driven by higher wages, changes to the forintʼs exchange rate and global commodities prices.

Year-on-year, factory gate prices in the manufacturing sector rose 4.9% in January. Prices in the transport equipment segment were up 5.9%, and prices in the computer, electronic and optical products segment increased by 2.6%. Prices in the food, beverage and tobacco segment were up 8.3%, while prices in the gas, electricity and steam supply segment fell 3.7%.

In a month-on-month comparison, producer prices in the manufacturing sector inched up 0.6%. Prices in the transport equipment segment edged up 0.3%, and prices in the computer, electronic and optical products segment increased 1.1%. Prices in the food, beverage and tobacco segment rose 1.1%. Prices in the gas, electricity and steam supply segment were up 2.6%.