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Financial News: Hungary Producer Prices Surge In July

Hungary Producer Prices Surge In July

08/31/2022 - 06:20:00 (RTTNews)

(RTTNews) - Hungary's producer price inflation rose at a faster rate in July, figures from the Hungarian Central Statistical Office showed on Wednesday.

The producer price index rose 37.9 percent year-on-year in July, following a 35.0 percent increase in June.

The higher rate of increase in domestic output prices was due to larger proportion of the energy industry, where a significant rise in price occurred, the agency said.

The growth in base material prices, and weakening of the forint were decisive.

Domestic market producer prices grew 52.7 percent annually in July and foreign market prices increased by 30.4 percent.

On a monthly basis, producer prices gained 5.7 percent in July.

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