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HUNGARY: Producer Prices Rise 0.2% M/M in May, Unemployment Rate Edges Lower

HUNGARY
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary
  • Hungary's producer prices rose 0.2% m/m in May versus -0.9% in April, according to the Central Statistical Office. Year-on-year, prices fell 0.2% compared to -2.0% the month prior – the highest reading for that series since July 2023. Domestic prices of the manufacturing sector, which have a 60.0% weighting in the index, rose 0.8% y/y while domestic energy prices, which account for 38.6% of the index, fell 13.0% y/y.
  • Meanwhile, Hungary’s unemployment rate edged lower to 4.3% (Est: 4.4%) from 4.4% in April. In absolute terms, there were 212,100 unemployed in May, 5,200 fewer than in April and 25,900 more than twelve months prior.
  • Prime Minister Orban attends the second and final day of an EU summit in Brussels today. Looking ahead to next week, trade balance, manufacturing PMI, industrial production and retail sales figures are all scheduled for release.
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  • Hungary's producer prices rose 0.2% m/m in May versus -0.9% in April, according to the Central Statistical Office. Year-on-year, prices fell 0.2% compared to -2.0% the month prior – the highest reading for that series since July 2023. Domestic prices of the manufacturing sector, which have a 60.0% weighting in the index, rose 0.8% y/y while domestic energy prices, which account for 38.6% of the index, fell 13.0% y/y.
  • Meanwhile, Hungary’s unemployment rate edged lower to 4.3% (Est: 4.4%) from 4.4% in April. In absolute terms, there were 212,100 unemployed in May, 5,200 fewer than in April and 25,900 more than twelve months prior.
  • Prime Minister Orban attends the second and final day of an EU summit in Brussels today. Looking ahead to next week, trade balance, manufacturing PMI, industrial production and retail sales figures are all scheduled for release.