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Hungary April PPI down 0.3% from March, up 4.9% yr/yr

Industrial producer prices in Hungary were down 0.3% in April from March and up 4.9% in twelve months, the Central Statistics Office (KSH) said on Tuesday.

The yr/yr rise slowed from a 6.6% increase in March, which followed an increase of 6.3% in February and a 7.0% rise in January.

The month-on-month decline followed no change in March, a 0.2% increase in February and no change in the preceding two months.

Domestic sales prices in April were up 0.8% from March after rising just 0.1% in the previous month, which followed two months with bigger monthly rises, of 0.6% in January and 0.4% in February. April domestic sales prices were up 6.4% yr/yr; the twelve-month rise has slowed steadily from a peak of 10.8% in November.

Among segments of the manufacturing sector, domestic sales prices rose 26.6% yr/yr in coke production and petroleum refining, 12.5% in the chemical industry and 9.6% in the food sector. Domestic sales prices were down 4.6% yr/yr in the manufacturing of computers, electronic and optical products and fell 3.6% in transport equipment manufacturing. In a month-on-month comparison, domestic sales prices rose the most, by 7.4% in coke production and petroleum refining.

In a month-on-month comparison, export sales prices fell 1.0% in forint terms after declining just 0.1% in March and no change in February. Export prices rose 3.8% in the twelve months to April, following a 5.2% rise in March, a 4.3% increase in February and a 5.2% rise in January.

Among manufacturing industry segments with a significant export share, export prices rose 12.3% yr/yr in the food industry, 2.6% in the computer, electronic goods and optical products segment, and 1.2% in the machinery and equipment segment. Export prices inched down 0.5% yr/yr in vehicle manufacturing. In a month-on-month comparison, export prices were unchanged in the food sector, declined 1.8% in the computer, electronic goods and optical products segment, fell 1.0% in the machinery and equipment segment and were down 0.7% in vehicle manufacturing.

The forint firmed 2.0% to the euro and 5.0% to the US dollar from March to April, and it was unchanged against the euro and firmed 7.1% to the dollar in the year to April.