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Hungary Producer Price Inflation At 3-Month High; Gross Earnings Rise

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Hungary Producer Price Inflation At 3-Month High; Gross Earnings Rise

Hungary’s producer price inflation rose to the highest level in three months in August, figures from the Hungarian Central Statistical Office showed on Monday.

The producer price index rose 0.9 percent year-on-year in August, following a 0.3 percent increase in July.

The latest inflation was the highest since May, when prices rose 2.7 percent.

Prices changes were influenced by changes in base material and world market prices and by wage growth, the agency said.

Domestic market producer prices grew 2.4 percent in August and foreign market prices rose 0.2 percent.

Separate data from the statistical office showed that the gross wages grew 10.7 percent year-on-year in July.

For the January to July period, gross wages and net earnings increased by 10.6 percent each.

The material has been provided by InstaForex Company – www.instaforex.com