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Financial News: Hungary Producer Price Inflation At 7-Month High

Hungary Producer Price Inflation At 7-Month High

02/03/2020 - 05:57:00 (RTTNews)

(RTTNews) - Hungary's producer price inflation rose to the highest level in seven months in January, figures from the Hungarian Central Statistical Office showed on Monday.

The producer prices rose 2.4 percent year-on-year in December, following a 2.1 percent increase in November.

The latest inflation was the highest since May, when it was 2.7 percent.

Domestic market prices increased 3.3 percent annually in December and foreign market prices rose 1.9 percent.

In 2019, the producer prices rose 2.1 percent compared to the last year.

The rate of the price rise was influenced by wage growth, foreign exchange rate changes and the development of the world market prices of raw and base materials, the agency reported.

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