News Release - Producer price indices - January
More marked fall in industrial and agricultural producer prices y-o-y
Publication Date: 15. 02. 2009
Product Code: r-7001-09
In January 2009, month-on-month, agricultural and market services prices fell by 3.0% and 0.5% respectively. Industrial producer prices grew by 1.1% and construction work prices rose by 0.4%.
In comparison to January 2008, agricultural and industrial producer prices were down by 26.8% and 0.8% respectively. Construction work prices and market services prices increased by 3.2% and 2.6% respectively.
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Month-on-month comparison:
Agricultural producer prices were down by 3.0% in total. Prices of crop products fell by 3.1% due to price decreases in oil plants (-3.7%), cereals (-5.6%) and vegetables (-12.6%). On the increase were prices of fruit (+3.1%) and potatoes (+25.8%). Prices of animal products dropped by 2.8% due to lower prices of poultry (-1.2%), pigs for slaughter (-2.4%) and milk (-5.0%). Prices of cattle for slaughter grew (+1.5%).
Industrial producer prices rose by 1.1% (-1.5% in December 2008). High price increases were recorded in ‘electricity, gas, steam and air conditioning’ (+10.8%), ‘water supply’ (+6.4%) and ‘mining and quarrying’ (+3.3%). Prices went down in ‘chemicals, chemical products’ (-7.1%; particularly ‘basic chemicals and fertilisers’ -10.4%), ‘coke, refined petroleum products’ (-5.6%) and ‘basic metals, fabricated metal products’ (-1.6%). Prices of ‘food products, beverages and tobacco’ fell (-0.6%).
Construction work prices rose by 0.4%, construction material input prices decreased by 0.4%.
Market services prices in the business sphere were down by 0.5% due to a price fall in ‘advertising and market research services’ (-1.3%). Price decreases in ‘telecommunications services’, ‘warehousing and support services for transportation’ and ‘freight transport’ were 4.7%, 3.8% and 1.4% respectively. Prices of ‘postal and courier services‘, ‘insurance‘ and ‘financial services, except insurance and pension funding‘ increased by 0.8%, 1.7% and 2.4% respectively.
Year-on-year comparison:
Agricultural producer prices were down by 26.8% (-22.8% in December 2008). Prices of crop products fell by 33.7%, mainly due to price decreases in cereals (-44.5%) and oil plants (-26.0%). On the decrease were prices of fruit (-33.9%), vegetables (-33.4%) and potatoes (-16.0%). Prices of animal products dropped by 17.7%; decreases were registered for milk (-32.2%), eggs (-16.9%), poultry (-11.9%) and cattle for slaughter (-1.4%). Prices of pigs for slaughter grew (+7.8%).
Industrial producer prices were down by 0.8% (-0.1% in December 2008). The most marked fall was observed in ‘coke, refined petroleum products’ (-38.0%, i.e. the highest decrease since 1991, the start of measurement). Prices decreased in ‘food products, beverages and tobacco’ (-3.2%; both ‘dairy products’ and ‘prepared animal feed’ -15.3% and ‘grain mill products, starches and starch products’ -12.6%) and ‘chemical, chemical products’ (-10.0%). Prices increased mainly in ‘electricity, gas, steam and air conditioning’ (+11.5%), ‘water supply’ (+7.0%) and ‘basic metals, fabricated metal products’ (+5.1%).
Among the main industrial groupings, the highest year-on-year price decreases were recorded for ‘energy’ (-2.8%) and ‘intermediate goods’ (-1.3%), the highest increase was recorded for ‘capital goods’ (+2.7%).
Construction work prices were up by 3.2% (+3.6% in December 2008); construction material input prices remained unchanged (+0.5% in December 2008).
Market services prices in the business sphere rose by 2.6% in total (+3.9% in December 2008), reflecting mainly price growth in ‘architectural and engineering services’ (+10.3%), ‘computer programming, consultancy’ (+6.7%) and ‘advertising and market research services’ (+3.9). Prices of ‘telecommunications services’ dropped (-5.0%).
Industrial producer prices in the EU – December 2008*
According to the Eurostat news release, industrial producer prices in the EU27 were down by 1.4% in December 2008 (-2.0% in November) month-on-month. Prices decreased in all member states for which data are available. The highest decreases were recorded in Denmark and Bulgaria (both -3.9%) and in Lithuania (-3.5%). Prices went down in the Czech Republic (-1.5%) and Germany (-1.0%). The lowest decreases were recorded in Cyprus (-0.2%), Slovenia (-0.4%) and Slovakia (-0.7%).
Year-on-year, EU27 producer prices were up by 2.6% (+4.3% in November 2008). The highest increases were observed in Cyprus (+8.5%), Hungary (+8.3%) and Romania (+7.2%). Prices grew in Slovakia (+5.9%) and Germany (+4.3%). Prices went down the most in Denmark (-3.2%), Greece (-2.6%) and Spain (-0.2%).
* Preliminary data
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As from January 2009, the industrial producer price indices and market services price indices have been constructed, calculated and disseminated in accordance with the classifications CZ-NACE Rev. 2 and CZ-CPA 2008. In comparison to CZ-CPA 2002, the most important changes are in industry (Sections B, C and D). The changes concern all breakdown levels and substantial changes at the level of subsections are set out in the attached table. Producer price indices have been recalculated back to 1991; the market services price indices back to 1994.
Exhaustive information on the new classification is available on the website of the Czech Statistical Office at /classifications .
Notes
Contact: Miloslav Beranek, phone (+420) 274 052 665, e-mail: miloslav.beranek@csu.gov.cz
Hana Sykorova, phone (+420) 274 054 101, e-mail: hana.sykorova@csu.gov.cz
Data source: CZSO survey
End of data collection / end of data processing:
Agricultural producer price indices: 24th calendar day of reference month / 8th calendar day of the following month
Industrial producer price indices: 20th calendar day of reference month / 7th calendar day of the following month
Construction work price indices: last calendar day of reference month / 5th working day of the following month
Market services price indices: 15th calendar day of reference month / 7th calendar day of the following month
Except for the construction work price indices, the data are finalised. Construction work price indices are updated using the finished quarterly survey and the finalised data are released on the 45th calendar day of the following quarter.
Related publications: 7001-09 Price Indices of Construction Work, Types of Constructions and Construction Production Costs
7003-09 Producer Price Indices – Basic Information
7004-09 Industrial Producer Price Indices
7005-09 Agricultural Producer Price Indices
7008-09 Market Services Price Indices in the Business Sphere
( http://www.czso.cz/csu/2009edicniplan.nsf/engs/2009-7 )