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.
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