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May PPI up 0.1% from April, yr/yr rise slows to 1.2%

Industrial producer prices in Hungary rose 0.1% in May from April and were up 1.2% in twelve months, the Central Statistical Office (KSH) said on Thursday.

The monthly rise came after a 0.3% drop in April and unchanged prices in March. In a month-on-month comparison, producer prices were unchanged or dropped since November 2010 except for a 0.2% rise in February.

In a twelve-month comparison, the PPI slowed steadily from 8.2% reached last November.

Domestic sales prices in April were up 0.3% from April as the monthly rise slow from 0.8%. May domestic sales prices were up 3.2% yr/yr; the twelve-month rise has slowed steadily from a peak of 10.8% in November.

In a month-on-month comparison, export sales prices were unchanged in forint terms after falling 0.1% in both March and April. Export prices were down 0.3% in the twelve months to May after a 3.8% yr/yr increase in April and increases in the past twelve months.

The forint weakened 0.5% to the euro and 1.3% to the US dollar from April to May, but strengthened 3.4% against the euro and firmed 15.4% to the dollar in the year to May.

January-May industrial producer prices were up 5.2% yr/yr as domestic sales prices rose 7.4% and forint-term export prices rose 3.6% in the period.