Producer price indices - August 2006
Further growth of producer prices
Publication Date: 14. 09. 2006
Product Code: r-7001-06
In August 2006, compared to the previous month, both industrial producer prices and market services prices grew by 0.3%, construction work prices increased by 0.2%. Agricultural producer prices fell by 0.5%.
In comparison to August 2005, prices of agricultural producers, industrial producers, construction work and market services were higher by 2.4%, 2.7%, 3.1% and 4.0%, respectively.
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Month-on-month comparison:
Agricultural producer prices fell by 0.5%. On the decrease were prices of potatoes (-21.4%), eggs (-5.7%) and cereals (-1.5%), as well as prices of cattle for slaughter and milk. Prices of vegetables, poultry and pigs were up.
Prices of industrial producers increased by 0.3%. Price increases were recorded in particular for ‘basic metals and fabricated metal products’ (+0.7%), ‘food products, beverages and tobacco’ (+0.4%; mainly bread, fresh pastry goods and cakes), ‘other non-metallic mineral products’ (+0.4%), ‘chemicals, chemical products and man-made fibres’ (+0.4%), and ‘coal and lignite, peat’ (+0.4%).
Construction work prices and construction material input prices were higher by 0.2% and 0.8%, respectively.
Prices of market services in the business sphere grew by 0.3% due to a price increase in ‘real estate, renting and business services’ by 0.4% (higher prices of ‘exhibition, fair and congress organisation services’ by 5.4%).
Year-on-year comparison:
Agricultural producer prices were higher by 2.4% (+1.4% in July). The prices of crop products grew by 15.4% due to higher prices of potatoes (+87.0%). Also prices of oil plants (+20.4%), fruit (+22.3%), cereals (+9.9%) and vegetables (+4.6%) were higher. The prices of animal products fell by 3.2%; prices of poultry (-7.8%), eggs (-7.7%) and milk (-6.3%) were down. Prices of cattle for slaughter dropped further.
Prices of industrial producers grew by 2.7%, which is the highest increase since July 2005. One of the reasons for speeded up growth of the overall price level in August was the acceleration of price growth in ‘basic metals and fabricated metal products’ to 2.4% (from 0.5% in July). Growth of prices speeded up also in ‘chemicals, chemical products and man-made fibres’ to 8.0% (from 7.2% in July). The prices of ‘food products, beverages and tobacco’ still remained below those in the corresponding months of 2005; however, the fall moderated to 0.7% (from 1.2% in July). On the other hand, prices of ‘coke, refined petroleum products’ grew slower, going up by 11.2% in total (+14.4% in July). The prices of ‘electrical energy, gas, steam and water’ increased by 7.9%, like in July.
Among the main industrial groupings, prices of ‘energy’ grew most (+7.3%). Only ‘consumer durables’ recorded a decrease (-0.1%).
Construction work prices were up by 3.1% (like in July). Construction material input prices grew by 2.0% (+1.0 in July).
Prices of market services in the business sphere were higher by 4.0% in total (+3.8% in July). Prices of ‘real estate, renting and business services’ grew (+6.1%; higher prices of ‘advertising services’ by 21.0%, ‘exhibition, fair and congress organisation services’ by 8.9% and ‘architectural and engineering services’ by 4.4%), and so did the prices of ‘financial intermediation, except insurance and pension funding’ (+2.8%).
Industrial producer prices in the EU – July 2006*
On average for the EU member states (EU25), according to data released by Eurostat, industrial producer prices were up by 0.7% month-on-month in July 2006 (in the Czech Republic by 0.7% too). Among member state for which data are available, the highest increases were recorded in Denmark (+1.8%), the Netherlands (+1.6%) and Lithuania (+1.5%). Prices in Slovakia grew by 0.6% and in Germany by 0.5%. The only decrease was observed in Portugal (-0.1%). Prices remained unchanged in Ireland and Cyprus.
Year-on-year , industrial producer prices in the EU25 grew by 6.4% in total in July, most in Luxembourg (+14.2%), the Netherlands (+9.7%), Slovakia (+9.0%) and Denmark (+8.9%). Prices in Germany were higher by 6.0%. The lowest increases were recorded in Ireland (+1.4%), the Czech republic (+2.4%) and Cyprus (+2.6%). None of the member states registered a y-o-y drop.
* Preliminary data
Note
Contact: Hana Sykorova, phone (+420) 274 054 101, e-mail: hana.sykorova@csu.gov.cz
Miloslav Beranek, phone (+420) 274 052 665, e-mail: miloslav.beranek@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: 12th 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
Price indices of market services: 15th calendar day of reference month / 7th calendar day of the following month
Except for the construction work price indices, the data published are final. The construction work price indices are refined using the finished quarterly survey and final data are released on the 45th calendar day of the following quarter.
Related publications: 7001-06 Price Indices of Construction Work, Types of Constructions and Costs of Construction Output
7003-06 Producer Price Indices – Basic Information
7004-06 Industrial Producer Price Indices
7005-06 Agricultural Producer Price Indices
7008-06 Price Indices of Market Services in the Business Sphere
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