Hungary's agricultural PPI up 18.5% y/y in November 2012.

By bne IntelliNews January 15, 2013
Hungary's agricultural producer price index (PPI) increased by 18.5% y/y in November 2012, decelerating from a revised growth of 24.5% y/y in the previous month, data from the statistics office showed. Crop prices rose 25% y/y in November, following a 33.3% annual growth a month earlier, pushed up by a 31.1% surge in cereals prices. Producer prices of fresh vegetables rose by 17.1% y/y and of potatoes prices jumped 87.6% y/y. Prices of industrial crops advanced by 15% y/y, boosted by a 17.2% growth in the price of oil seeds. Bu contrast, costs of fruits reversed to a 1.7% y/y decline after growing in the previous five months. Producer prices in the crops segment started growing in July, after declining in the previous six months. The producer price of live animals was 7.5% higher y/y in November, as prices of poultry for slaughter grew 12.5%, pigs for slaughter went up by 6.8%, while prices of cattle for slaughter declined by 4.7% y/y. The price of animal products rose by 7.6% y/y in November, reflecting a 34.9% jump in egg prices, while milk prices edged down by 0.1% y/y. In the first eleven months of 2012, agricultural producer prices in the country grew 15.4% y/y, with live animals and animal products increasing by 11.7% y/y and crops costs advancing by 17.4% y/y.

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