Hungary's producer price inflation accelerated in May, contrary to economists' forecast for a moderate slowdown, data released by the Central Statistical Office showed Friday.
Producer price inflation quickened to 7.8 percent in May from 7.1 percent in April. Economists were looking for an inflation rate of 7 percent.
Prices in the mining and quarrying industry climbed 17 percent annually during the month, while manufacturing prices rose 7.6 percent. There was a 9.4 percent year-on-year increase in output prices of electricity, gas, steam and air conditioning supply, data showed.
On a monthly basis, output prices moved up 0.8 percent in May, following the previous month's 0.3 percent gain. In the January-May period, Hungarian output prices increased 7.1 percent from the corresponding period a year earlier.
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