Hungary Producer Price Inflation Rises In August

Hungary’s producer prices rose in August, figures from the Hungarian Central Statistical Office showed on Wednesday.

The producer price index rose 3.6 percent year-on-year in August, following a 3.4 percent increase July. This was the highest since April, when prices rose 3.7 percent.

The development of prices was influenced by economic trends due to the coronavirus epidemic, their impact was less felt in forint exchange rate changes and the world market prices of raw and base materials, the agency said.

Domestic market producer prices rose 0.4 percent in August and foreign market prices grew 5.2 percent.

Separate data from the statistical office showed that the gross wages rose 10.8 percent yearly in July, following a 15.6 percent in June.

Net earnings increased 10.8 percent annually in August, after a 15.6 percent rise in the prior month.

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