"Hungary's agricultural producer prices leaped by 38.1% year on year in December, the Central Statistics Office (KSH) reported on Wednesday. The Dec figure corresponds to the fastest PPI inflation since the turn of the millennium.The producer price of crops jumped by 62.5% yr/yr in Dec, which number is only slightly smaller than the 63.1%October peak, but a slight moderation from November. The full-year growth came in at 40.5% yr/yr.
The producer price of cereals (including seeds), which represent a large weight in the index, was up by 88.4% yr/yr in the last month of 2007 and 69.9% in the whole year. The producer price of industrial crops went up 28.7% in Dec, largely due to a 60.8% increase in the price of oil seeds, and 10.2% in 2007 (with a 25.9% yr/yr growth in the producer price of oil seeds in the whole year.)
The producer price of potato went up 6.2%, considerably less than in previous months. The producer price of vegetables (+17.4%) was also smaller. The yr/yr growth at these categories was 33.7% and 4.9%, respectively in 2007.
The producer price of fruits (including grape) skyrocketed by 92.7% yr/yr in the last month of 2007 and was up 42.7% in the whole of 2007. The extreme rise may be put down to a 132.4% leap in the producer price of apple.
Excluding fruits and vegetables, agricultural producer prices were up by 32.8% yr/yr in Dec and 21.9% in 2007.
Animal and animal product prices were up by 11.8% yr/yr in Dec and 3.6% in 2007.
The producer price of slaughter pigs dropped by 4.7% yr/yr in Dec and 10.9% in the whole of 2007. The producer price of cattle for slaughter decreased by 5.4% yr/yr in the last month and 8.8% in 2007.The producer price of poultry for slaughter went up 22.8% yr/yr in Dec and 15.8% in 2007.
The producer price of milk increased by 27.7% yr/yr in Dec and 12.6% in 2007. The producer price of eggs edged up 9.7% yr/yr in Dec and 13.6% in the whole of 2007."
Source: Portfolio Online Financial Journal
14.02.2008