Export and import price indices - August 2006

In August, import prices decreased by 0.5% and export prices remained unchanged month-on-month. Year-on-year, import prices were up by 0.6% and export prices by 0.2%. The terms of trade figures reached 100.5% m-o-m and 99.6% y-o-y. World prices of industrial raw materials and food decreased in September by 5.9% m-o-m and increased 16.4% y-o-y.
Month-on-month comparison:

- Imports: import prices decreased by -0.5%. The biggest influence on the decrease of the total m-o-m import price index was due to a decline in prices of 'mineral fuels, lubricants and related materials' by -1.3% (mainly petroleum and petroleum products). Also 'food and live animals' prices decreased -1.7% (vegetables and fruit in particular) and prices of 'machinery and transport equipment' (especially office machines and automatic data-processing machines) and prices of 'miscellaneous manufactured articles' (mainly footwear) both -0.4%. On the contrary, an increase of 1.1% was recorded in 'crude materials, inedible, except fuels' prices (mainly crude rubber).

- Exports : export prices remained unchanged in total m-o-m. Prices of 'crude materials, inedible, except fuels' (mainly crude rubber) increased +1.1%, 'chemicals and related products' (especially plastics) +0.3% and 'manufactured goods classified chiefly by material' (iron and steel in particular) +0.2%. Mainly prices of 'mineral fuels, lubricants and related materials' (mainly coal and petroleum products) decreased -1.5% and prices of 'machinery and transport equipment' (metalworking machinery in particular) -0.3%.

- Terms of trade reached a positive figure of 100.5% (by 0.4 percentage points more than in July). The highest terms of trade value was reached in sections of 'food and live animals' 101.7% and 'manufactured goods classified chiefly by material' 100.5%; on the other hand, the lowest value among sections important in terms of weight was in 'mineral fuels, lubricants and related materials' 99.8%. Terms of trade value of 'machinery and transport equipment' amounted 100.1%

Year-on-year comparison:

- Imports: import prices increased by 0.6% (+0.4% in July) and were influenced the most by price growth in 'mineral fuels, lubricants and related materials' (+7.4%, mainly gas, petroleum and petroleum products). Also prices of 'manufactured goods classified chiefly by material' grew (+5.3%, especially non-ferrous metals) as well as 'food and live animals' (+0.6%, especially dairy products and birds' eggs) and 'chemicals and related products' (+0.5%, inorganic chemicals in particular). Prices in other sections decreased – among observed sections important in terms of weights, the biggest decrease was among prices of 'crude materials, inedible, except fuels' (-7.3%, mainly metalliferous ores and metal scrap) and 'miscellaneous manufactured articles' (-5.1%, especially articles of apparel). Prices of 'machinery and transport equipment' dropped by 2.2%.

- Exports: the biggest influence on the increase of export prices by 0.2% (drop -0.8% in July) was due to a growth in prices of 'chemicals and related products' (+7.1%, plastics in particular). Export prices rose for the first time since February 2005. The most marked price increase was in 'crude materials, inedible, except fuels' (+10.6%, mainly metalliferous ores and metal scrap) also prices of 'manufactured goods classified chiefly by material' were higher (+0.7%, mainly non-ferrous metals and iron and steel). On the other hand, prices of 'mineral fuels, lubricants and related materials' dropped (-2.9%, especially coal). Prices of 'machinery and transport equipment' decreased (-1.6%, mainly metalworking machinery).

- The terms of trade, even despite the negative figure of 99.6%, were by 0.8 percentage point higher than in July and thus rose already for the sixth month. The figure was high especially in the sections 'crude materials, inedible, except fuels' 119.3%, 'chemicals and related products' 106.6% and 'miscellaneous manufactured articles' 104.5%, in 'machinery and transport equipment' it amounted to 100.6% (in July 100.7%). On the contrary, the lowest figure was recorded for 'mineral fuels, lubricants and related materials' 90.4% and 'manufactured goods classified chiefly by material' 95.6%.
Month-on-month comparison:

- The world prices of industrial raw materials and food covered by the index decreased markedly in total by -5.9% in September, which was the biggest decline since October 2001. Prices of commodities important in terms of weights, crude oil and natural gas, decreased in total by -6.7% (of these Brent petroleum by -13.0%, while natural gas prices increased by +0.7%). Also prices of all of the surveyed aggregated sections dropped, only prices of leathers rose slightly.

Year-on-year comparison:

- In September, the world prices were up by 16.4% in total (in August +24.0%) and thus already the fourth month slowed down their growth. Lower increment was also for crude oil and gas prices in total: 14.7% (in August 23.2%). Metal prices increased the most markedly already for the seventh month, this time by 57.5% (however, +57.9% in August). Also prices of other aggregated sections remained higher, only wood prices still held under the level of the last year.

1) The world prices follow current prices in original currencies in commodity markets and indicate in advance the character of the future development of the Czech import and export prices of industrial raw materials and food.

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Note
Contact: Jiří Choun, phone (+420) 274 052 196, e-mail: jiri.choun@csu.gov.cz
Data source: CZSO survey
End of data collection: Last calendar day of the month
End of data processing: Import and export price indices: 40th calendar day following the end of reference month
CZSO world price indices: 10th calendar day following the end of reference month
Related publications: 7201-06 Import and Export Price Indices in the Czech Republic
Detailed on (Internet: http://www.czso.cz/eng/edicniplan.nsf/p/7201-06 )
7202-06 CZSO World Price Indices of Industrial Raw Materials and Food
Detailed on (Internet: /katalog-produktu )
The data released are final.