Consumer price indices - inflation - April 2005
Marked increase in automotive fuel prices
Publication Date: 09. 05. 2005
Product Code: r-7101-05
The month-on-month increase in the price level (+0.1%) was influenced by a marked increase in prices of automotive fuel (+8.4%), which raised the price level by +0.2 percentage points. Prices of petrol Natural 95 were in April the highest since October 2004. Prices of diesel oil were higher only in September and October 2000. In ‘health’, seasonal prices of stays at spas increased by +1.6% in particular. The moderate increase in prices in ‘clothing and footwear’ was mainly due to prices of summer kinds of footwear. In ‘restaurants and hotels’ prices of accommodation services increased by +3.2%.
The drop in off-season prices of domestic recreational stays and recreational stays abroad and the decrease in prices of equipment for the reception, recording and reproduction of pictures and sound (by -2.0% and –1.2%, respectively) had a reverse influence on the price level. In ‘food and non-alcoholic beverages’ a moderate decrease in prices continued, which was mainly due to lower prices of fresh vegetables (by –10.6%). Slightly lower were also prices of pork, poultry, eggs, milk and cheese. On the other hand, prices of fruit and potatoes increased (+3.2% and +3.1%, respectively). Moderately higher were prices of rice, beef, vegetable fats, chocolate and cocoa. In dwelling, prices of natural gas decreased by –2.3%. In alcoholic beverages, especially prices of bottled beer were lower (by –1.5%).
In total, prices of both goods and services rose by +0.1%.
In terms of year-on-year comparison, consumer prices growth accelerated to +1.6% in April (from +1.5% in March). The highest change in the price development was recorded for ‘transport’, in which prices of automotive fuel increased by +6.1% in April after the y-o-y drop that lasted for 3 months. The moderate acceleration in growth of prices of dwelling was primarily due to higher prices of natural gas by +7.2% (from +6.0% in March).
The highest price increase endured in ‘health’ (influence of price increase of medicaments by +10.1%) and ‘restaurants and hotels’, in which prices of meals in public catering went up by +7.5% and canteens by +12.3%. Prices of tobacco products rose by +7.7%, prices of alcoholic beverages were by -1.0% lower than in the previous year. Prices of financial services increased by +8.7%.
Prices in ‘food and non-alcoholic beverages’ dropped further; prices of fresh vegetables dropped more markedly than in the previous month (by –15.8% in April from -5.9% in March). Lower than in the previous year were primarily prices of potatoes, by -57.8%, bread and cereals by -2.2%, non-alcoholic beverages by -1.9%. On the other hand, prices of meat went up by +2.4% (of which particularly prices of beef by +6.1%), oils and fats by +1.9%, fruits by +3.7%, sugar by +25.9%. The drop in prices in ‘clothing and footwear’, ‘furnishings, households equipment and maintenance’ continued. In ‘communications’, the drop in prices was caused particularly by the different VAT rate of public telecommunication services (22% VAT rate in April 2004 and 19% in April 2005).
In total, prices of goods went up by +0.2% y-o-y and prices of services were higher by +4.2%.
Inflation rate, i.e. an increase in the average consumer price index for last 12 months related to the average CPI for the preceding 12 months, amounted to +2.6% in April.
According to preliminary data of Eurostat, the year-on-year increase in the average harmonized index of consumer prices (HICP) in the EU25 reached +2.1% in March 2005 (the same as in February 2005). The highest y-o-y price growth was observed in Latvia (+6.6%) and the lowest in Sweden (+0.5%). In Slovakia, the rise in prices slowed down to +2.3% in March (from +2.6% in February). In the Czech Republic, the y-o-y HICP growth reached +1.4% in April 2005 (+1.2% in March 2005). According to a flash estimate published by Eurostat, the y-o-y HICP increase for the Euro-zone in April 2005 was +2.1%.
Note
Contact: Marie Huskova, phone (+420) 274054104, e-mail: huskova@gw.czso.cz
Data source: CZSO survey
End of data collection: 20th day of the reference month
End of data processing: 3rd day of the month that follows the reference month
Related publications: 7101-05 Consumer Price Indices – Basic Information
7103-05 Consumer Price Indices – Detailed Information
( http://www.czso.cz/eng/csu.nsf/archivri?openform )
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