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Hungary PPI up at 8.2% yr/yr in November

Industrial producer prices in Hungary rose 8.2% in the twelve months to November 2010 after a 7.1% yr/yr rise in October, the Central Statistical Office (KSH) said. The prices rose on the month after monthly drops in the previous three months.

Industrial producer prices fell from year earlier levels in January-April 2010, and grew at an increasing rate up to 9.0% August before their growth slowed until October.

In a month-on-month comparison, producer prices rose 1.5% after falling 0.8% in October. The monthly increase was the biggest since a 3.8% jump in May.

Industrial producer prices rose 4.2% yr/yr in January-November, as domestic sales prices rose 7.0% and forint-term export prices rose 1.5%.

November domestic sales prices rose 10.8% yr/yr after climbing 10.0% in October. In a month-on-month comparison, domestic sales prices rose 1.2% after falling 0.2% in October.

Within domestic sales prices manufacturing sector prices rose 0.8% in one month, including a 2.8% increase in chemicals production and a 1.7% rise in vehicle manufacturing. Domestic sales prices in the pharmaceuticals industry declined 0.3% on the month.

Export sales prices were up 5.5% in forint terms in the twelve months in November after rising 4.4% in October. Export sales prices rose 1.7% on the month in November after falling 1.3% m/m in October.

The forint weakened 0.5% against the euro and 2.2% against the US dollar in November from October. The forint was 1.7% weaker against the euro and 11.2% weaker against the dollar in November than one year earlier.

In a breakdown based on end-use, domestic sales prices rose the most, by 1.5% m/m and 15.1% yr/yr, in the energy producing branches. The monthly rise followed two months of decline.

The domestic sales prices of intermediate goods producers rose 1% from October in the biggest monthly increase seen since 1.5%-1.8% increases in the middle of last year. The prices in the segment were up 9.7% yr/yr.

Investment good producing branches also saw a monthly domestic price increase, of 0.6%, after two months of drops. The domestic prices in these branches were up 1.9% yr/yr.

The domestic sales prices of consumer durable producers rose 0.4% from October after slight slips in the previous two months. Their domestic sales prices were up 1.4% yr/yr.

Domestic sales prices of non-durable consumer goods producers rose 0.7% on the month in November, in the sixth rise in a row, and the November prices were 2.1% higher than a year earlier. Domestic sales prices in these branches started to rise yr/yr in October 2010. (MTI – Econews)