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Hungary twelve-month PPI slows in September

Hungary's twelve-month industrial producer price index rose 3.4% in September slowing from a 4.6% increase in August, the Central Statistics Office (KSH) said on Friday. Twelve-month PPI peaked at 9.1% in March and slowed to 6.2% in May before picking up to 6.6% in June again.

Twelve-month forint-term export prices rose 6.5 % in September, slowing from an 8.4% increase August. Domestic sale prices fell 1.2 % in September after dropping 0.9% in August. In a month-on-month comparison, domestic industrial prices were flat and export prices rose 0.1%. The forint weakened 0.9% against the euro and firmed 1.2% to the dollar in a month and lost 13.1% against the euro and 11.6% in twelve months.

In a twelve-month comparison, export prices for electric equipment rose 11.7% in September, machinery prices climbed 9.3% and vehicle prices were up 8.4%, all increasing well over the headline figure, but, for the most part, not by as much as the forint weakened.

Export prices for IT products rose 5.9% and were up 5.1% for pharmaceuticals. In a month-on-month comparison, export prices for both groups rose for the sixth month in a row.

Twelve-month producer prices in the manufacturing sector fell 2.3% in September, showing a steeper drop than the headline figure because domestic producer prices for energy and water supply increased. Domestic producer prices for IT and electronic products rose 1.4%, they were up 4.7% for electric equipment and climbed 6.2% for vehicles.

Domestic producer prices for capital goods were up 3.3% and they rose 0.9% for consumer goods. (MTI-ECONEWS)