Hungary's industrial producer prices eased by 0.2% in monthly terms in March vs. +0.9% in February, the Central Statistics Office (KSH) reported on Friday. On an annual basis, industrial PPI was down 3.5% vs. -2.8% in the previous month. In the first quarter of the year, industrial producer prices dropped 2.3% yr/yr(vs. -1.7% in Jan-Feb).
More importantly, domestic price pressure from the production side rose again after moderating in Feb. Domestic price inflation came in at 1.2% in March vs. no change in Feb. In monthly terms it was 0.5%, down further from 0.8% in Feb and 1.8% in Jan.
In Q1, domestic price inflation in the industry came to 0.9%.
Producer prices in the manufacturing industry dropped by 0.4% in monthly terms (vs. +0.8% in Feb) and decreased by 4.6% yr/yr in the third month of the year, vs. -3.1% in Feb. The Jan-Mar print was -2.7%.
Export sales prices fell by 7.9% yr/yr, more than in Feb (-5.4%). In monthly terms the KSH detected a 0.9% decline vs. a 0.9% rise in Feb. The ytd figure showed a 5.3% decrease.
In March, industrial producer prices in the manufacture of food products, beverages and tobacco went down 0.6% in monthly terms (vs. no change in Feb), and in annual terms there was a decrease of 6.0% after a 5.1% drop in the previous month. In Q1, the KSH detected a 5.1% decline in this category. On the domestic front food price inflation was -0.2% m/m vs. no change in Feb and -3.3% in annual terms, against -3.0% in Feb. The reading for the first three months was -2.9%.
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