Hungary's Service PPI Up 0.6% Year-On-Year In Q2

  • 30 Oct 2018 7:21 AM
  • Hungary Matters
Hungary's Service PPI Up 0.6% Year-On-Year In Q2
Service producer prices were up 0.6% in the second quarter of 2018 from the corresponding period last year, the Central Statistical Office (KSH) said in a report published on its website.

Producer prices rose in most segments except for a 11.2% fall at telecom services and a 3.2% drop in advertisement and market research prices. Except for the above two segments, the changes were in the same directions as in the European Union, the report noted.

While telecom services producer prices have been dropping at a steepening pace since the start of 2017, the Q2 2018 drop was the biggest since Q1 2007.

KSH attributed the fall as before to investments of previous years and to changes in EU regulations. The drop was instrumental in a 3.8% fall of IT and communication services producer prices on the whole during H1.

Q2 prices rose the most, by 6.4% year-on-year, in security services and by 5.6% in labour market services.

KSH noted an 8% rise of minimum wage at the start of 2018, contracts pegged to inflation, an 11% rise of fuel prices and a 2.4% weakening of the forint against the euro in Q2 from a year earlier as factors pushing up prices in the sector.

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