Hungary’s industrial producer prices edged up by 0.2% y/y in October 2013, easing from a 1.6% rise in the previous month, the statistics office said. On a monthly basis, prices dropped by 1.8% in October, after remaining flat in September.
The annual increase was driven by a 1.1% growth in export prices, while domestic prices declined by 1.3% y/y. Prices in the manufacturing sector, which traditionally determines the overall price dynamics, increased by 0.8% y/y on the back of a 1.1% y/y hike in export prices, while domestic prices stagnated in October.
IntelliNews comment: The dynamics of the PPI inflation points to lower inflationary pressure on consumer prices in the short term. Hungary's annual consumer price growth slowed down to 0.9% in October from 1.4% in September.
Related Articles
Eurozone manufacturing growth hits four-year high in April but Middle East war drives record price surge
Eurozone manufacturing activity expanded at the fastest pace in nearly four years in April as factories rushed to build safety stocks ahead of expected price rises and supply shortages linked to the ... more
Druzhba oil flow to Slovakia and Hungary is renewed
The oil flow from the Russian Druzhba pipeline was renewed late on August 19. “The flow of oil to Slovakia is standard at the moment,” the country’s Minister of Economy Denisa Saková (Hlas) ... more
US Westinghouse could develop electricity storage site near Slovak Gabčíkovo hydroelectric power plant
US power company Westinghouse is reportedly in talks with the Slovak government to develop a new type of electricity storage site near the Gabčíkovo hydroelectric power plant (HPP) on the Danube ... more