UPDATE - Hungary August PPI up 0.7% from July, down slightly yr/yr

Figures

Industrial producer prices in Hungary grew 0.7% in August from July and were down a slight 0.1% in twelve months, figures published by the Central Statistics Office (KSH) on Thursday show.

The monthly increase picked up from 0.3% in July despite a slower rise of domestic sales prices as export prices increased on the weaker forint after drops or no change in the previous eight months. The drop of the twelve-month PPI slowed from 1.0% in the previous two months as the forint strengthened from August 2010.

Domestic sales prices were up 0.3% in a month in August after rising 1.2% in July. The twelve-month increase of domestic sales prices was 3.4% yr/yr, unchanged from July.

Forint-term export sales prices rose 0.9% from July, in the first monthly increase registered since last December. They were down 2.5% yr/yr, less than the 4.0% yr/yr drop in July. Export prices still dropped yr/yr for the fourth month.

The forint weakened 1.7% to the euro and weakened 1.3% to the US dollar in a month, but strengthened 3.2% and 12.9%, respectively, from August 2010.

January-August industrial producer prices were up 3.0% yr/yr as domestic sales prices rose 5.7% and forint-term export prices rose 1.1% in the period.

August domestic sales prices in the manufacturing industry rose 0.5% from July after a 1.3% rise in the previous month, and were up an above-average 7.7% yr/yr. Manufacturing sector export prices rose 0.9% on the month and 1.2% on the year in forint terms in August.

In a breakdown per end-use, domestic sales prices of investment-goods producers slipped 0.1% a month as a 1.3% rise in July proved temporary. The only other group with a monthly decline, of 0.2%, was that of durable consumer goods producers.

The domestic sales prices of non-durable consumer goods manufacturers rose 0.3% after a 0.5% rise in July, the monthly rise with energy producers slowed to 0.5% from an unusually big 2.0%, and intermediate goods producers registered a 0.3% rise after slight price declines in the previous two months.

Among the main export branches, forint-term export prices in the food industry rose 1.2% from July and rose 7.3% from August 2010, August export prices in chemicals manufacturing rose 2.4% a month and 6.2% yr/yr, but were down 1.1% m/m and 3.9% in the production of pharmaceuticals.

Export producer prices of computer, electronic and optical products rose 0.9% m/m in the first rise five months, and rose 0.6% from July in vehicle manufacturing, but still has been down yr/yr in both branches now for the fourth month.

 

Total shopping centre area in Hungary could grow 67% by year-end - Cushman & Wakefield

No new shopping centers were completed in Hungary in the first half of this year, but the total area of shopping centers could grow 67% by the end of 2011 as compared to 2010, real estate consultant Cushman & Wakefield told MTI.

 

Three new retail centers - two in Budapest and one in Szeged - are scheduled to be completed in the second half of this year, with a combined area of 107,000sqm, adding 67% to the total area of shopping centers in Hungary.

 

There are no new developments starting due to financing difficulties, the statement said.

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