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.
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.