Hungary’s industrial producer prices decreased by 0.1% y/y in January 2014, posting their first decline in eight months, the statistics office said. On a monthly basis, prices were up by 0.7% in January, speeding up from a 0.5% m/m rise in December 2013.
The annual drop was driven by a 1.2% y/y fall in domestic prices, while export prices increased by 0.6% y/y. Prices in the manufacturing sector, which traditionally determines the overall price dynamics, advanced by 0.7% y/y on the back of a 0.8% y/y hike in export prices and 0.5% y/y rise in domestic prices.
IntelliNews comment: The dynamics of the PPI inflation points to lower inflationary pressure on consumer prices in the short term. Hungary's consumer prices remained unchanged y/y in January 2014, after increasing 0.4% y/y in December 2013.
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