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Producer Prices Rise 34.9% y/y

HUNGARY
  • Hungarian producer prices rose 34.9% y/y in December, slowing for a fourth consecutive month having reached a record 43.4% y/y in August. The monthly figure fell 0.1% (Prior: -0.8% m/m).
  • Hungary replaced Bulgaria as the lowest-ranked member state in the Transparency International annual corruption perception index, dropping four places to 77th. The move follows a saga with the European Commission which has seen some $30b in funding effectively frozen over rule-of-law and graft concerns.
  • Hungarian refiner Mol Nyrt is in talks to use Croatia’s oil pipeline network as it works to wean itself off Russian supplies, Bloomberg report. “Our intention at the moment is to clearly develop the alternative possibilities,” a senior company executive said in an interview late last week. However, Hungary remains locked in a 15-year gas contract with Russia’s Gazprom, while they are working with Russian state-giant Rosatom to expand the country’s only nuclear power plant.
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