Hungary’s industrial producer prices increased by 0.6% y/y in November 2013, seeding up from a 0.2% rise in the previous month, the statistics office said. On a monthly basis, prices dropped by 0.3% in November, slower than October’s decline of 1.8% m/m.
The annual increase was driven by a 2.1% growth in export prices, while domestic prices declined by 1.9% y/y. Prices in the manufacturing sector, which traditionally determines the overall price dynamics, advanced by 1.6% y/y on the back of a 2.2% y/y hike in export prices, while domestic prices stagnated in November.
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 to 0.9% in October from 1.4% in September.
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