Producer price indices - December 2004
First m-o-m fall of industrial producer prices after 16 months
Publication Date: 14. 01. 2005
Product Code: r-7001-04
Month-on-month comparison:
Agricultural producer prices fell by 1.0% in December. Decreases were reported for prices of cereals (-4.0%), sugar beet (-8.1%), vegetables (-2.5%), pigs for slaughter and cattle for slaughter. On the other hand, prices of potatoes (+2.0%) and poultry (+1.0%), as well as prices of fruit, milk and eggs, increased.
For the first time after sixteen months, industrial producer prices were lower than in the previous month (by 0.3%). This development was decisively influenced by the fall in prices of ‘coke, refined petroleum products’ by 2.1%, ‘chemicals, chemical products and man-made fibres’ by 1.4% and ‘food products, beverages and tobacco’ by 0.2%. Prices increased in ‘basic metals and fabricated metal products’ by 0.3%.
Construction work prices and construction material inputs prices rose by 0.2% and 0.1%, respectively.
Market services prices in the business sphere decreased by 0.4%, reflecting a 0.7% drop of prices in ‘real estate, renting and business activities’ (lower TV and radio commercials prices).
Year-on-year comparison:
Agricultural producer prices were higher by 2.4% in December (+5.0% in November). Prices of crop products fell by 12.8% in total. Decreases continued in prices of potatoes (-59.3%), vegetables (-39.6%), fruit (-20.7%) and cereals (-18.2%). On the other hand, higher prices were recorded for sugar beet (+53.0%). Prices of animal products grew by 12.7% due to price increases in cattle for slaughter (+17.7%), pigs for slaughter (+33.8%), milk (+6.2%) and poultry (+1.4%). Prices of eggs were down (-23.1%).
Industrial producer prices were higher by 7.7% (+8.2% in November). The slowdown, continuing for two months, was affected by a slackened y-o-y growth rate of prices in ‘coke, refined petroleum products’ to 46.2% (from 47.8% in November). Prices in ‘basic metals and fabricated metal products’ were higher by 28.9% (+29,0% in November). Also the y-o-y growth rate of prices of ‘food products, beverages and tobacco’ decelerated to 2.6% (from 3.8% in November).
Among the main industrial groupings, prices of ‘energy’ (+13.3%) and ‘intermediate goods’ (+11.6%) grew most y-o-y.
Construction work prices and construction material inputs prices were higher by 4.3% (+4.2% in November) and 8.3% (+8.2% in November), respectively.
Market services prices in the business sphere grew by 2.8% (+2.0% in November) in total, responding to higher prices in ‘real estate, renting and business activities’ (increases in prices of TV and radio commercials and computer-related service activities) and in ‘insurance’ and ‘financial intermediation, except insurance and pension funding’.
Industrial producer prices in the EU – November 2004*
On average for the EU member states (EU25), industrial producer prices went down by 0.1% m-o-m . The highest m-o-m decreases were observed in Lithuania (-1.0%), Germany (-0.5%), Belgium and Netherlands (both -0.3%). Conversely, prices were up most in Sweden (+0.3%), Cyprus, Luxembourg and United Kingdom (all +0.2%).
In terms of y-o-y comparison, prices in the EU25 grew by 4.4% in total, most in Luxembourg (+12.7%), Cyprus (+8.8%), Czech Republic (+8.2%) and United Kingdom (+6.8%), least in Ireland (+1.0%). Prices below the November 2003 level were recorded only in Finland (-0.3%).
* Preliminary data
Producer prices in 2004
In the year 2004 on average, compared with 2003, agricultural producer prices were higher by 8.1 % (most since 2001). Prices of both animal products and crop products increased (by 6.2% and 11.6%, respectively). Higher prices were reported for cereals, potatoes, sugar beet, pigs for slaughter, poultry, milk and eggs.
Industrial producer prices rose by 5.7% in total, which is most since 1996. Of the main influence on this growth were higher prices of ‘basic metals and fabricated metal products’ (+18.5%), ‘coke, refined petroleum products’ (+27.0%) and ‘food products, beverages and tobacco’ (+4.8%).
Construction work prices and construction material inputs prices rose by 3.7% and 5.8%, respectively. These increases were significantly affected by higher prices of metals in 2004.
Market services prices grew by 2.3% in 2004. There were increases mainly in prices of ‘real estate, renting and business activities’ (+3.0%) and ‘financial intermediation, except insurance and pension funding’ (+2.8%). Prices of ‘insurance’ and ‘national goods transport‘ were higher by 1.7% and 1.0%, respectively.
Analysis - Producer price indices in the 4th quarter of 2004 and in the year 2004
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 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
Construction work price indices: last calendar day of the reference month / 5th working day of the month following the reference month
Market services price indices: 15th calendar day of the reference month / 7th calendar day of the month following the reference month
The data are final, except for construction work price indices. Construction work price indices will be updated, using the results of the completed quarterly survey, and final data will be released on the 45th calendar day of the following quarter.
Related publications: 7001-04 Price Indices of Construction Work and Constructions
7003-04 Producer Price Indices – Basic Information
7004-04 Industrial Producer Price Indices
7005-04 Agricultural Producer Price Indices
7008-04 Price Indices of Market Services in the Business Sphere
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