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PPI up at 9.8% in April, KSH Reports

MTI-Hungary Today 2021.05.31.

Factory gate prices in Hungary rose by an annual 9.8 percent in April, the fastest rate in more than two years, the Central Statistical Office (KSH) said on Monday.

Annualised producer price index (PPI) climbed from 9.6 percent in the previous month.

“The pace of the price increase was mainly influenced by the weakening of the forint against the euro, and rising prices of raw materials” KSH said.

Prices for domestic sale increased by 11.8 percent, while export prices climbed by 8.8 percent.

In a month-on-month comparison, PPI was up by 0.6 percent as prices for domestic sale rose by 1.6 percent and export prices edged up 0.1 percent.

Significant Price Hikes Expected in Hospitality
Significant Price Hikes Expected in Hospitality

Optimism is accompanied by a very high inflation rate, food price increase that even surpasses inflation, staffing problems, uncertainty, and the lack of foreign tourists.Continue reading

For the period January-April, PPI was 8.5 percent as prices for domestic sales rose by 7.1 percent and exports prices climbed by 9.2 percent.