Hungary's agricultural PPI falls 2.3% y/y in July 2013, first decrease in 15 months

By bne IntelliNews September 13, 2013

Hungary's agricultural producer price index (PPI) decreased by 2.3% y/y in July 2013, registering its first decrease in 15 months, data from the statistics office showed.

The reading was pushed down by a 7.4% y/y decline in crop prices. Producer prices of cereals decreased by 12% y/y, prices of industrial crops fell by 1.7% y/y and of fruit prices shrank by 20.7% y/y. By contrast, prices of both fresh vegetables and flowers increased by 10% y/y and costs of potatoes surged by 75.6% y/y.

Prices of live animals and animal products grew by 7.8% in July, faster that June’s growth of 6% y/y. Prices of poultry and pigs for slaughter advanced by 9.5% and 7.7% y/y, respectively. Costs of animal products increased by 12.6% y/y in July, reflecting a 19% y/y rise in milk prices. On the other hand, costs of cattle for slaughter declined by 20.2% y/y in July.

In cumulative terms, Hungary's agricultural producer prices grew 6.2% y/y in January to July 2013, with live animals and animal products increasing by 4.8% y/y and crops costs advancing by 7% y/y.

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