Hungarian Price Index Drops Again

Portfolio reports that the further retreat is greatly attributable to the fact that the massive price inflation at crops was down at 8.1 per cent in the seventh month of 2008, according to the Central Statistics Office (KSH).

Animal and animal product prices were up by 17.9 per cent yr/yr in July vs. +22.9 per cent yr/yr in June. In Jan-July the KSH detected a 19.6 per cent yr/yr increase vs. 20.2% in Jan-June.

The producer price of slaughter pigs rose by 16.7 per cent yr/yr in July against an increase of 28.6 per cent in June. In Jan-July, there was a growth of 15.3% yr/yr in this category, unchanged from H1. The producer price of cattle for slaughter went up by 7.3 per cent yr/yr in July versus a rise of 12% in June. In the first seven months, there was a rise of 1.8 per cent vs. +0.9 per cent in Jan-June. The producer price of poultry for slaughter rose 16.7 per cent yr/yr in July vs. +28.8 per cent in June and increased by 24.0 per cent yr/yr in H1.

The producer price of milk went up by 15.3 per cent yr/yr, which is less drastic than a rise of 17.7 per cent yr/yr in June and +20.3 per cent in May. The producer price of eggs rose 25.4 per cent vs. +16.9 per cent in June.

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