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Twelve-month PPI rose 0.5% in November

Hungary's twelve-month industrial producer prices rose 0.5% in November from the preceding month and were up 0.3% from the same month last year after remaining unchanged in month-on-month and year-on-year comparison in October, the Central Statistics Office (KSH) said on Tuesday.

Twelve-month forint-term exports prices rose 1.2% in November, slowing from 1.8% in October. Domestic sale prices dropped 0.9% in November, at a slower rate than the 2.7% decline in October.

In a month-on-month comparison, forint-term export prices rose 0.5% in November after climbing 0.4% in October. Domestic prices rose 0.5% after dropping 0.5% in October.

The forint lost 0.9% to the euro and 0.1% against the dollar in November, weakening 2.2% to the euro and strengthening 12.8% against the dollar in one year.

The export-price increase was driven by a 0.8% rise for computers, electronic and optical equipment in November, while machinery- and vehicle-export prices rose below-the-average 0.4% and 0.3%, respectively. In twelve months, export prices for computers, electronic and optical equipment rose just 0.8%, while machinery and vehicle prices were up 3.4% and 1.8%, an increase above the headline figure. Prices for Hungary's other major export item, electric devices, rose an outstanding 7.1% yr/yr, including a 1.2% fall in November from September.

Producer prices for domestic sales were boosted by a 1.3% monthly increase in machinery prices and a 1.1% rise in computer- and electronic-product prices. Domestic-food producer prices fell for the fifth month at a 0.5% rate in November, albeit slower than the 1.4% monthly decrease in October.

In twelve months to November, domestic producer-prices for electric equipment were up 3.8%, drug prices rose 4.3%, machinery and vehicle prices increased 1.3 and 1.4% and prices for computers grew 2.6% as opposed to the headline 0.9% decrease. On the other hand, both food and textile prices fell an equal 2.0%, while prices for refined oil products and coke were down 2.9% and energy producer prices fell 1.8% from a year earlier.

Domestic prices for consumer goods were down 0.2% from a year earlier as the result of 2.4% rise in prices for consumer durable goods and 0.6% fall in non-durable consumer goods, while prices for capital goods were up 0.8% yr/yr. (MTI-ECONEWS)