Hungary's agricultural PPI down 4.5% y/y in Feb 2012.

By bne IntelliNews April 13, 2012
Hungary's agricultural producer price index (PPI) reversed to a 4.5% y/y drop in February 2012 from an annual rise of 0.3% in January, data from the statistics office showed. The index had been expanding at a double-digit pace since mid-2010 to end-2011. The decline in February was due to 11.6% y/y cheaper crops. Producer prices of cereals and fruits were down by 13.5% y/y and 13.6% y/y, respectively. Potatoes and fresh vegetable prices also dropped further in February. Prices of oil seeds reversed to a 1.3% annual drop. PPI grew only in the segments of industrial crops and flowers. However their growth slowed down considerably in February and will most likely reverse to a decline in the next month. The prices in the other main agricultural group - live animals and animal products - increased by 13.3% y/y, slowing down from 15.6% y/y in January 2012. The price growth decelerated also in the subgroups of pigs for slaughter, poultry for slaughter, animal products and milk. In aggregate terms, the agricultural PPI was down by 1.2% y/y in Jan-Feb period, with crops decreasing by 7.6% y/y, while live animals and animal products increased by 14% y/y.

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