Hungary's producer prices dropped more than expected in May reflecting weakness observed in all industries except for mining and quarrying, the Hungarian Central Statistical Office said Friday.
Producer prices slipped 1.3 percent year-on-year in May, reversing last month's 0.7 percent rise. Economists had forecast prices to fall by 1.1 percent.
Producer prices in the manufacturing sector were down 0.7 percent compared to 1.1 percent increase a month ago. At the same time, cost of electricity, gas and air conditioning supply decreased 4.3 percent.
Elsewhere, the central bank said the current account surplus increased to seasonally adjusted EUR 752 million in the first quarter from EUR 475 million in the fourth quarter of 2012.
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