Industrial producer prices rose by 2.7 percent in May from the same month a year earlier, the Central Statistical Office (KSH) said on Friday.

Prices for domestic sales were up by 5.4 percent while export prices rose by 1.4 percent.

In a month-on-month comparison, industrial producer prices were up by 0.5 percent as domestic prices were up by 0.8 percent and export prices increased by 0.4 percent.

KSH said price increases were driven by growing wages, the exchange rate change of the forint and changes in the international price of oil.

In January-May industrial producer prices rose by an annual 3.2 percent compared to the same period last year as domestic prices climbed 5.7 percent and export prices were up by 2.0 percent.

As we wrote last week, Hungary will set up a port and a logistics base in Trieste with a view to facilitating and speeding up the shipping of Hungarian goods overseas, read more here.

Source: MTI

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