Producer price indices - February 2004
The growth of producer prices continued
Publication Date: 12. 03. 2004
Product Code: r-7001-04
Month-on-month comparison:
Prices of agricultural producers grew by 3.3%, which especially applied to cereals (+6.7%), potatoes (+3.4%), vegetables (+5.7%), and also cattle for slaughter, milk and eggs. On the other hand, prices of oil plants, fruit and pigs for slaughter fell by 1.6%, 9.6% and 4.4%, respectively.
Prices of industrial producers rose by 0.3% (as against +0.8% in January). Prices of ‘chemicals, chemical products and man-made fibres’ and ‘coke, refined petroleum products’ grew by 2.1% and 1.3%, respectively. Prices of ‘food products, beverages and tobacco’ continued growing at the same rate as in January (+0.5%). Particularly prices of ’grain mill products’ and baker products rose; prices of dairy products, oils and fats went up too, whereas prices of ‘meat and meat products’ were on the decrease for the fourth successive month.
Prices of construction work rose by 0.3%; those of construction material inputs fell by 0.2%.
Prices of market services in the business sphere grew by 1.4%, reflecting particularly a 2.1% price rise in ‘real estate, renting and business activities’ (prices of exhibition and fair service activities were up, whereas prices of renting own property went down). Further, prices in ‘financial intermediation, except insurance and pension funding’ and ‘post and telecommunications‘ increased (both +0.7%).
Year-on-year comparison:
Prices of agricultural producers grew by 13.4%, especially due to higher prices of crop products (+41.3%). Considerable price increases were recorded particularly for cereals (+30.6%) and potatoes (+116.4%). Prices of oil plants, fruit and vegetables rose too. Conversely, prices of animal products fell by 2.2%, as a result of decreases in prices of pigs for slaughter (-15.1%), piglets (-13.5%) and milk (-1.4%). Prices of poultry, eggs and cattle for slaughter rose.
Prices of industrial producers rose by 1.5% (the y-o-y growth rate was roughly the same as in January with 1.6%). Prices of ‘food products, beverages and tobacco‘ kept on being markedly higher (+4.5%, they are growing from September 2003). Particularly prices of ‘grain mill products, starches and starch products’ (+8.6%), ‘prepared animal feeds’ (+12.2%), ‘other food products‘ (+7.6%) and ‘dairy products and ice cream‘ (+4.8%) grew. Price increase in ‘meat and meat products’ was lower (+2.3%). Significantly higher were prices in ‘electrical energy, gas, steam and water’ (+2.9%) and ’basic metals and fabricated metal products’ (+2.8%), while prices of ‘coke, refined petroleum products’ decreased by 6.4% y-o-y.
Among main industrial groupings, the highest y-o-y price increases were recorded for ‘non-durable consumer goods’ (+2.6%) and ‘intermediate goods’ (+1.9%).
Prices of construction work and construction material inputs were higher by 2.3% and 1.6%, respectively.
Prices of market services in the business sphere grew by 2.2% in total, responding to higher prices in ‘real estate, renting and business activities’ (prices of TV and radio commercials up) and also in ‘insurance’, ‘national goods transport’ and ‘financial intermediation, except insurance and pension funding’.
Industrial producer prices in the EU-15 and in the Acceding Countries – January 2004*
On average for the EU-15, prices of industrial producers rose by 0.2% m-o-m . The highest m-o-m price increases were reported for Portugal (+1.2%), Belgium and Sweden (both +0.9%), while prices dropped in Germany (-0.2%).
In terms of y-o-y comparison, prices in the EU-15 grew by 0.4% in total, most in Luxembourg (+4.6%*), the United Kingdom and Belgium (both +1.2%). Prices decreased in Ireland (-0.6%), Finland
(-0.4%) and Portugal (-0.3%).
Among the Acceding Countries, the highest m-o-m increases took place in Latvia (+1.9%) and Slovakia (+1.3%). Both these countries saw also the highest y-o-y increases (+4.9% in Latvia and +4.4% in Slovakia).
The difference between the growth of industrial producer prices in the Czech Republic and the slow growth in the EU-15 increased.
* Preliminary data
Note
Contact: Hana Sýkorová, phone (+420) 266 107 316, e-mail: sykorovah@gw.czso.cz
Jiřina Weissová, phone (+420) 266 107 781, e-mail: weissova@gw.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 calendar 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 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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