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HUNGARY: PPI Y/Y Reaches Highest Since May 2023

HUNGARY
CEEMEAEM BulletBulletEmerging Market NewsHungary
  • Prime Minister Viktor Orban again threatened to veto EU sanctions against Russia when they come due for renewal in six months time if Ukraine fails to resume the transit of Russian gas by then, Bloomberg report the PM as as saying on state radio this morning. Hungary received a guarantee from the EU’s executive arm this week about the resumption of transit via Ukraine, Orban said, adding that “If the pledge is broken, then not only will we propose ending sanctions but we will end them.”
  • Data released earlier this morning showed that Hungary's producer prices rose 0.3% m/m in December versus +4.3% in November. On a year-on-year basis, producer prices rose 9.0% versus +7.9% prior, marking the highest annual rate since May 2023.
  • Speaking to Index, Economy Minister Marton Nagy said the EU’s ability to avert a trade war with the Trump administration hinges on whether Europe agrees to purchase LNG from the US.
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  • Prime Minister Viktor Orban again threatened to veto EU sanctions against Russia when they come due for renewal in six months time if Ukraine fails to resume the transit of Russian gas by then, Bloomberg report the PM as as saying on state radio this morning. Hungary received a guarantee from the EU’s executive arm this week about the resumption of transit via Ukraine, Orban said, adding that “If the pledge is broken, then not only will we propose ending sanctions but we will end them.”
  • Data released earlier this morning showed that Hungary's producer prices rose 0.3% m/m in December versus +4.3% in November. On a year-on-year basis, producer prices rose 9.0% versus +7.9% prior, marking the highest annual rate since May 2023.
  • Speaking to Index, Economy Minister Marton Nagy said the EU’s ability to avert a trade war with the Trump administration hinges on whether Europe agrees to purchase LNG from the US.