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Financial News: Hungary Producer Price Inflation Slows In May

Hungary Producer Price Inflation Slows In May

06/30/2020 - 08:32:00 (RTTNews)

(RTTNews) - Hungary's producer prices grew at a softer pace in May, figures from the Hungarian Central Statistical Office showed on Tuesday.

The producer price index rose 1.7 percent year-on-year in May, after a 3.7 percent increase April. This was the lowest since October 2019, when prices rose 1.5 percent.

The development of prices was influenced by economic trends due to the coronavirus epidemic, their impact was felt in forint exchange rate changes and the world market prices of raw and base materials, the agency said.

Domestic market producer prices fell 2.6 percent in May, while foreign market prices grew 3.9 percent.

Separate data from the statistical office showed that the gross wages rose 7.8 percent yearly in April, following a 9.0 percent in March.

Net earnings climbed 7.8 percent annually in April, after a 9.0 percent rise in the prior month.

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