Producer price indices - August 2005

Month-on-month comparison:

Agricultural producer prices fell by 1.4%. Decreases were recorded for prices of fruit (-15.1%), vegetables (-14.8%), potatoes (-10.0%), cereals (-2.9%) and milk and poultry. On the other hand, higher prices were reported for eggs (+3.8%), cattle for slaughter (-0.8%) and pigs (-0.5%).

Industrial producer prices remained unchanged m-o-m. However, Individual industrial divisions saw price movements up and down. Prices increased most in ‘coke, refined petroleum products’ (+2.8%). On the other hand, prices in ‘basic metals, fabricated metal products’ continued falling (-1.1%).

Prices of construction work grew by 0.2% and prices of construction material inputs decreased by 0.1%.

Market services prices in the business sphere remained unchanged in total. Prices of ‘real estate, renting and business activities’ stagnated; those of ‘national goods transport’ fell by 0.2%.

Year-on-year comparison:

Agricultural producer prices were lower by 8.5% (-11.0% in July) due to a 20.7% decrease in prices of crop products in total. Prices of cereals (-24.4%, particularly wheat) and oil plants (-19.1%) continued to decrease. Prices of fruit and potatoes were down by 18.9% and 4.5%, respectively. Considerably higher were prices of vegetables (+46.7%). Prices of animal products decreased by 1.8%. Prices of eggs, pigs and poultry were lower by 15.6%, 7.5% and 4.9%, respectively. Prices of cattle for slaughter (+12.5%) and milk (+2.1%) were up.

Industrial producer prices were higher by 1.1% (+2.0% in July), which is the lowest growth since March 2004. The moderation of y-o-y growth of the overall price level recorded in last ten moths was mainly caused by lower prices in ‘basic metals, fabricated metal products’. For the first time in 2005, they fell y-o-y (-1.9%). Coal and energy prices were a stabilizing factor in all the months passed in 2005. Prices of ‘electrical energy, gas, steam and hot water’ were higher by 7.4% (+7.1% on average from the beginning of the year) and ‘coal and lignite, peat’ by 23.0% (+22.8% on average from the beginning of the year).
Among the main industrial groupings, prices of ‘energy’ (+9.5%) and ‘consumer durables’ (+1.9%) grew most.

Prices of construction work were higher by 2.2% (like in July) and prices of construction material inputs increased by 0.9% (+1.9% in July).

Market services prices in the business sphere grew by 2.3% (+2.2% in July) in total, responding to higher prices in ‘real estate, renting and business activities’ by 1.5% (price increases in advertising services and computer-related service activities) and in ‘postal services and telecommunications’ by 5.5% (higher prices of postal and telecommunication services). Further, prices were higher in ‘financial intermediation, except insurance and pension funding’ and in ‘national freight transport’.

Industrial producer prices in the EU – July 2005*

On average for the EU member states (EU25), according to data of Eurostat, industrial producer prices were up by 0.5% m-o-m in July. The highest m-o-m increases among member states for which data are available were recorded in Denmark (+1.0%), Portugal and United Kingdom (+0.9% both). Prices in Slovakia increased by 0.6% and in Germany by 0.5%. Decreases were observed only in Luxembourg (-1.0%) and Slovenia (-0.2%).
In terms of y-o-y comparison, prices in the EU25 grew by 5.0% in total in July 2005, most in the United Kingdom (+10.4%), Denmark (+10.1%) and Hungary (+7.8%). Prices in Slovakia were higher by 5.3% and in Germany by 4.6%.

Preliminary data

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Note
Contact: Hana Sykorova, phone (+420) 274 054 101, e-mail: sykorovah@gw.czso.cz
Miloslav Beranek, phone (+420) 274 052 665, e-mail: beranek@qw.czso.cz
Data source: CZSO survey
End of data collection / end of data processing:
Agricultural producer price indices: 24th calendar day of the reference month / 8th calendar day of the month following the reference month
Industrial producer price indices: 12th calendar day of the reference month / 7th calendar day of the month following the reference month
Price indices of construction work: last calendar day of the reference month / 5th working day of the month following the reference month
Price indices of market services: 15th calendar day of the reference month / 7th calendar day of the month following the reference month
The data are final, except for price indices of construction work. Price indices of construction work will be updated, using results of the completed quarterly survey, and final data will be released on the 45th calendar day of the following quarter.
Related publications: 7001-05 Price Indices of Construction Work and Constructions
7003-05 Producer Price Indices – Basic Information
7004-05 Industrial Producer Price Indices
7005-05 Agricultural Producer Price Indices
7008-05 Price Indices of Market Services in the Business Sphere
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