The rise in Hungary’s industrial producer prices slowed to 0.2pc in July from the previous month but the twelve-month rise picked up to 8.7pc, the Central Statistics Office (KSH) said on Tuesday.
The monthly rise was well down.from a 1.4pc increase in June and a sharp 3.8pc in May. June prices were up 6.9pc yr/yr.
Domestic producer prices in July fell 0.6pc from June in the first monthly drop recorded since last October. July domestic sales prices still rose a sharp 9.9pc in twelve months, little changed from a twelve-month increase of 9.2pc in June.
The monthly rise of forint-term export sales slowed to 1.0pc after a 1.8pc rise in June and a sharp 4.1pc increase in May, as the forint weakened less. Export prices increased a sharp 7.5pc in forint terms from July 2009 after rising 4.7pc in June and 2.0pc in the twelve months to May.
Reflecting yr/yr drops in the first four months, industrial producer prices were still up just 2.0pc in January-July from a year earlier. Domestic sales prices rose 5.2pc yr/yr in the first seven months and export prices fell 1.0pc yr/yr despite twelve-month rises, reflecting the weakening of the forint, in May and June.
The forint’s weakening against the euro slowed to 0.9pc in July from 1.8pc in June and the forint firmed 3.5pc against the US dollar after a 4.8pc slip in June. Compared with July 2009, the forint weakened 4.3pc to the euro and 15.0pc to the dollar.
Domestic sales prices in the manufacturing sector fell 0.9pc in July from the previous month after an identical inrease in June. Domestic sales prices fell the most, by 5.2pc a month in coke production and crude oil processing, they fell 1.2pc in vehicle manufacturing, 0.8pc in the chemical products and materials branch and 0.4pc in textile and leather products. Domestic sales prices of food and pharmaceutical products rose 0.3pc, and the prices in other fields of the manufacturing sector rose 0.2pc-0.6pc. Domestic sales rices in the electricity and gas supply sectors fell 0.4pc from June, while water supply prices remained practically unchanged.
In a composition based on end-use, domestic producer prices fell 1.2pc a month in the energy-producing branches after eight months of increases, and rose 0.1pc for intermediate goods producers. After three months of increases, domestic sales prices fell a slight 0.1pc a month in investment goods production. Non-durable consumer goods producers recorded a 0.2pc price rise from June, the second increase in a row, and the domestic prices of durable consumer goods manufacturers rose now for the third month, by 0.6pc.