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Financial News: Hungary Producer Price Inflation Increases In May

Hungary Producer Price Inflation Increases In May

06/30/2021 - 07:18:00 (RTTNews)

(RTTNews) - Hungary's producer price inflation increased in May, figures from the Hungarian Central Statistical Office showed on Wednesday.

The producer price index rose 11.3 percent year-on-year in May, following a 9.8 percent increase April.

The development of prices was influenced by the change of the forint against the euro and by the price rise of raw and base materials, the agency said.

Domestic market producer prices gained 14.4 percent in May and foreign market prices increased by 9.6 percent.

On a monthly basis, producer prices fell 0.1 percent in May.

Separate data from the statistical office showed that the average gross wages increased 10.3 percent yearly in April, following a 9.2 percent rise in March.

On an annual basis, net gross wages rose 10.3 percent in April, following a 9.2 percent increase in the prior month.

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