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Hungary PPI slows to 5.1% in August

Industrial producer prices in Hungary rose 5.1% in August from the same month a year earlier, slowing from a 6.2% increase in July, data published by the Central Statistics Office on Friday show.

In a month-on-month comparison, producer prices fell 0.3% in August after dropping 0.4% in July. The monthly drops followed a 1.6% drop in June and slight increases in the previous three months, and came as the strengthening forint pushed export prices lower.

Domestic producer prices rose 5.7% year-on-year in August, slowing down from a 6.1% rise in July. They were unchanged month-on-month in August after edging up 0.4% in July.

The forint weakened 2.4% to the euro and softened 18.5% to the dollar in the twelve months to August. The Hungarian currency strengthened 2.6% to the euro and firmed 3.5% to the dollar from July.

Twelve-month PPI in the pharmaceutical segment of the manufacturing sector jumped 10.9%. Producer prices rose 3.9% in the computer, electronic and optical products segment, increased 1.8% in the transport equipment segment and were up 8.2% in the electricity, gas, steam and air conditioning segment.

January-August producer prices were up 6.7% as domestic producer prices rose 7.0% and forint-term export prices rose 6.5% in the period.