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Hungary PPI up 3.3% m/m in September

Industrial producer prices in Hungary in September grew 3.3% in a month and were up 4.1% in twelve months, figures published by the Central Statistics Office (KSH) on Thursday show.

The monthly increase accelerated sharply from a 0.7% increase in August, reflecting a bigger rise in export prices due to the sharp weakening forint. The monthly increase was the biggest one since September 2010.

Forint-term export sales prices rose 4.4% a month in September after a 0.9% rise in August, which was the first monthly increase registered since last December. They were up 2.9% yr/yr, after months of yr/yr drops, including a 2.5% decline in August.

The monthly increase of domestic sales prices also picked up, to 1.7% in September from 0.3% in August. September domestic sales prices were up 5.9% yr/yr, after 3.4% yr/yr rises both in August and July.

January-August industrial producer prices were up 3.1% yr/yr as domestic sales prices rose 5.7% and forint-term export prices rose 1.3% in the period.