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News Release - Producer price indices - May

Prices in agriculture and industry continued to fall

Publication Date: 15. 06. 2009

Product Code: r-7001-09




In May 2009, compared with the previous month, industrial and agricultural producer prices fell by 0.4% and 2.6%, respectively. Construction work and market services prices grew by 0.1% 0.2%, respectively.
In comparison to May 2008, agricultural and industrial producer prices fell by 31.4% and 3.8%, respectively. Construction work prices increased by 1.5% and market services prices by 1.8%.

* * *

Monthly changes

Agricultural producer prices decreased by 2.6% in total. Prices of crop products fell by 4.4%; prices of cereals by 1.5%, oil plants by 2.3% and potatoes by 4.2%. Prices of vegetable and fruits fell by -0.5% and 9.2%, respectively. Prices of animal products decreased by 0.6% due to a price drop of cattle for slaughter (-0.7%), milk (-0.9%), poultry (-1.5%) and eggs (-3.1%). Growing were only prices of pigs for slaughter by 1.1%.

Industrial producer prices decreased by 0.4%.. Prices went down especially in ‘basic metals, fabricated metal products’ (-3.5%), ‘mining and quarrying’ (-2.0%), ‘rubber and plastic products’ (-0.4%) and in ‘food products, beverages and tobacco’ (-0.1%). Growing were especially prices in ‘coke, refined petroleum products’ (+3.6%) and ‘chemicals, chemical products’ (+3.0%).

Construction work prices grew by 0.1%, construction material input prices fell by 1.2%.

Market services prices in the business sphere grew by 0.2%. Prices increased especially in advertising and market research services (+2.5%).


Annual changes

Agricultural producer prices were down by 31.4% (-29.2% in April 2009). Prices of crop products fell by 41.1%, mainly due to price decreases in cereals (-49.3%) and oil plants (-45.0%). On the decrease were prices of fruit (-36.8%) and hops (-20.4%). For the first time since December 2007 the prices of vegetables grew (+8.5%). Prices of animal products dropped by 16.6%. Decreases were registered for prices of milk (-33.6%) and poultry (-11.5%). The prices of pigs for slaughter (+5.6%) and cattle for slaughter (+0.9%) grew.

Industrial producer prices were down by 3,8% (-2.5% in April). This is the largest annual fall from the beginning of the observation (year 1991). It was especially caused by the price reduction in ‘coke, refined petroleum products’ (-39.1%) and ‘basic metals, fabricated metal products’ (-9.4%). Prices decreased in ‘food products, beverages and tobacco’ (-3.5%), of these especially ‘grain mill products’ (-22.6%), ‘prepared animal feed’ (-20.0%) and ‘dairy products’ (-12.1%). Prices increased primarily in ‘electricity, gas, steam and air conditioning’ (+11.0%).
Among the main industrial groupings, prices of ‘intermediate goods’ (-7.2%) reported the biggest drop, on the other hand, the highest increase was recorded for ‘durable consumer goods’ (+1.6%).

Construction work prices increased by 1.5% (+1.9% in April), construction material input prices were down by 4.6% (-3.3% in April).

Market services prices in the business sphere rose by 1.8% (+1.7% in April), reflecting the price growth in advertising and market research services (+10.4%), computer programming, consultancy (+6.7%), and office administrative and other support services (+6.1%). In contrast, prices of telecommunications services and freight transport services dropped by 2.5% and 3.6%, respectively.


Industrial producer prices in the EU – April 2009*

According to the Eurostat News release, industrial producer prices in the EU27 were down by 1.1% in April 2009 (-0.5% in March) month-on-month. Among the member states for which data are available, the highest decreases were recorded in Malta (-11.1%), the Netherlands (-2.5%), Germany (-1.4%) and in Slovakia (-1.2%). Prices went up only in Ireland (+0.7%), Greece (+0.3%) and in Finland (+0.1%). No price change was recorded in Slovenia.

EU27 producer prices were down by 3.9% (-1.9% in March) year-on-year. Prices decreased most in the Netherlands (-10.4%), Greece (-7.8%), Denmark and France (-6.4% both). Prices went down in Germany (-2.5%) and in Slovakia (-0.8%). Price increases were reported only for Malta (+22.6%), Hungary and Romania (+2.5% both), Sweden (+1.0%) and in Slovenia (+0.2%).

* Preliminary data

* * *

As from January 2009, the industrial producer price index and the market services price index are compiled, 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 concern industry (Sections B, C and D). The changes apply to all breakdown levels and the substantial changes at the level of subsections are set out in Table 4. The price indices are 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
Source of data: 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 )



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