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Morning Summary: March PPI Surges To 9.6%

HUNGARY
  • Covid daily new cases continue to decrease with the 7D SMA falling to 2,300, down from 9,300 (March 26 high) and from 3,400 the previous week. As the vaccination campaign accelerates, officials allowed cafes and bars to reopen terraces last weekend. The number of people who received at least one dose of the Covid vaccine is expected to surpass 4 million today (40% of the population)
  • PM Orban mentioned on state radio this morning that vaccination capacity has been exceeding demand.
  • Yesterday, average gross wages rose 9.8% in February, up from 9.5% the previous month.
  • Today, March PPI surged to 9.6%, up from 8.1% the previous month, the highest level since August 2006, confirming the firm trend in inflationary pressure.

Source: Bloomberg/MNI

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