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Financial News: Hungary Producer Price Inflation Falls To 37.0%

Hungary Producer Price Inflation Falls To 37.0%

01/05/2023 - 05:37:00 (RTTNews)

(RTTNews) - Hungary's producer price inflation eased to the lowest rate in four months in November, but remained strong, figures from the Hungarian Central Statistical Office showed on Thursday.

The producer price index rose 37.0 percent year-on-year in November, after a 41.7 percent growth in October.

The higher rate of increase in domestic output prices was due to the share of the energy industry, which had a significant rise in price increase, which is much larger in domestic sales than in exports, the agency said.

In addition to the steep rise in energy prices, the growth in base material prices and the weakening of the forint also led to a price-raising effect.

Domestic market producer prices surged 63.7 percent annually in November and foreign market prices climbed by 23.4 percent.

On a monthly basis, producer prices declined 0.8 percent in November.

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