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Financial News: Hungary Producer Price Inflation Slows; Trade Balance Swin

Hungary Producer Price Inflation Slows; Trade Balance Swing To Deficit

11/02/2021 - 06:20:00 (RTTNews)

(RTTNews) - Hungary's producer price inflation eased in September, figures from the Hungarian Central Statistical Office showed on Tuesday.

The producer price index rose 14.0 percent year-on-year in September, following a 14.4 percent increase August.

The development of prices was influenced by the price rise of raw and base materials, and motor fuels, the agency said.

Domestic market producer prices gained 20.1 percent in September and foreign market prices increased by 10.9 percent.

On a monthly basis, producer prices rose 2.4 percent in September.

Separate data from the statistical office showed that the final trade balance registered a deficit of EUR 751 million in August versus a EUR 344 million surplus last year. In the initial estimate, trade deficit was EUR 467 million.

Exports grew 4.2 percent year-on-year in August, after a 10.6 percent increase in July. According to the initial estimate, exports rose 5.2 percent.

Imports increased 18.7 percent annually in August, after a 15.5 percent rise in the preceding month. In the initial estimate, imports gained 16.0 percent.

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