PPI rises y.o.y. 0.6%, drops m.o.m 0.4% in October
Following a seven-month-long drop, Hungary’s industrial producer prices (PPI) edged up by a year-on-year 0.6% in October, with domestic prices falling by 1.2% and export prices rising by 1.7%, the Central Statistics Office (KSH) reported today. PPI, however, inched down 0.4%, with domestic and export prices also falling by a respective 0.8% and 0.1% in a month-on-month comparison.
In the January-November period, producer prices fell by a year-on-year 0.4% as domestic prices dropped by 2.1% and export prices edged up by 0.6%.
In a year-on-year comparison, factory gate prices in the manufacturing sector rose by 1.3%, boosted by 1.7% higher export prices. Prices of the transport equipment segment were up by 2.3%, and prices in the computer, electronic and optical products segment dropped by 0.2%. Prices in the food, beverages and tobacco segment edged up by 0.5%. Prices in the gas, electricity and steam supply segment were down 4.0%.
In a month-on-month comparison, producer prices in the manufacturing sector were down by 0.4%. Prices in the transport equipment segment rose by 0.8%, and prices in the computer, electronic and optical products segment edged down 0.5%. Prices fell 2.2% in chemicals manufacturing and 0.7% in pharmaceuticals production. Prices in the food, beverages and tobacco segment dropped by 0.2% while prices in the gas, electricity and steam supply segment were down 0.3% for the month.
The forint's exchange rate strengthening 0.3% to the euro and weakening 1.4% to the dollar from October affected export prices. In the twelve months leading up to November, the forint weakened 3.1% against the euro and lost 11.6% to the dollar.
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