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Producer price indices - February 2007

Prices of producers increased

Publication Date: 14. 03. 2007

Product Code: r-7001-07




In February 2007, compared to the previous month, prices of agricultural producers, industrial producers, construction work and market services grew by 0.6%, 0.5%, 0.2% and 0.7%, respectively.
In comparison to February 2006, prices of agricultural producers, industrial producers, construction work and market services were higher by 13.0%, 3.2%, 3.2% and 1.5%, respectively.

* * *

Month-on-month comparison:

Agricultural producer prices grew by 0.6%. The prices of crop products grew by 2.7% due to higher prices of cereals (+5.3%). The prices of vegetables increased by 4.0% unlike prices of fruit (-12.2%), which decreased. The prices of animal products fell by 1.7%; prices of pigs for slaughter and eggs were lower by 5.6% and 3.4%, respectively.

Prices of industrial producers increased by 0.5% (+1.2% in January). The main reason of the deceleration of m-o-m growth rate was the trend in ‘electricity, gas, steam and water’. According to expectations, they went up only by 0.1% in February (+7.5% in January). Due to lower prices of crude petroleum, a fall was recorded in the branch ‘coal, lignite, peat; crude petroleum’ by -0.3% (+6.5% in January). The prices in other branches mostly increased. The prices went up particularly in ‘basic metals, fabricated metal products’ (+1.0%), in ‘machinery and equipment n.e.c.’ (+1.4%) and ‘coke, refined petroleum products’ (+1.8%, for the first time following a six months of fall). Price of ‘food products, beverages and tobacco’ increased slightly by 0.6%. On the other hand, especially prices of ’chemicals, chemical products and man-made fibres’ (-1.4%) and ‘electrical and optical equipment’ (-0.9%) went down.

Construction work and construction material input prices grew identically by 0.2%.

Prices of market services in the business sphere grew by 0.7% due to a price increase in ‘real estate, renting and business activities’ (+1.0%, higher prices of advertising services). Further, prices in ‘financial intermediation, except insurance and pension funding’ and ‘national goods transport and warehousing’ increased by 0.7% and 0.5%, respectively.


Year-on-year comparison:

Agricultural producer prices were higher by 13.0% (+11.8% in January). The prices of crop products grew by 33.5% due to considerably higher prices of potatoes (+142.6%). Also prices of cereals (+34.4%) and oil plants (+16.9%) were higher. The prices of vegetables (+2.7%) increased unlike those of fruit (-4.7%), which decreased. The prices of animal products fell by 4.2%; prices of pigs for slaughter (-9.2%), milk (-3.8%) and poultry (-2.8%) were down. Prices of eggs were higher by 3.7%.

Prices of industrial producers were higher by 3.2% y-o-y in February (+2.8% in January). Prices in ‘basic metals, fabricated metal products’ primarily increased the total price level, which were higher by 7.9% in February (their growth accelerated from 6.9% in January) and the prices in ‘electricity, gas, steam and water’ with the growth of 7.5% (+7.4% in January). The rate of price slightly increased in ‘food products, beverages and tobacco’ to 1.7% (from 1.1% in January). The prices of ‘coke, refined petroleum products’ remained even in February under the price level of February 2006. Their fall, however, slowed down to 6.9% (from 7.5% in January). In addition, prices in ‘transport equipment’ were lower as well (-0,3%). Except for these two branches, the prices in the remaining branches were higher y-o-y.
Among the main industrial groupings, prices of ‘intermediate goods’ (+5.2%) and ‘energy’ (+3.4%) increased the most.

Construction work and construction material input prices were up by 3.2% (like in January) and 4.0% (+3.9% in January), respectively.

Prices of market services in the business sphere were higher by 1.5% in total (+2.0% in January). Prices of ‘real estate, renting and business services’ grew (+2.1%; growth of prices of ‘architectural and engineering services’ by 4.2%), and so did the prices of ‘national goods transport and warehousing’ (+2.0%).


Industrial producer prices in the EU – January 2007 *

On average for the EU member states (EU27), according to the data released by Eurostat, industrial producer prices remained unchanged month-on-month. Among member states for which data are available, prices increased the most in Lithuania (+2.2%), in Portugal (+1.6%) and in the Czech Republic (+1.2%). On the contrary, prices decreased the most in Denmark (-2.4%), in the United Kingdom (-1.0%) and in Bulgaria (-0.8%). Prices in Slovakia went down by 0.5% and in Germany they remained unchanged.

Year-on-year, prices in the EU27 were higher by 2.4% (+2.8% in the Czech Republic), the most in Luxembourg (+10.1%), in Hungary (+8.6%) and in Bulgaria (+7.7%). Prices in Slovakia were higher by 3.4% and in Germany by 3.2%. The lowest increases were recorded in Denmark (-1.8%), in the United Kingdom (-0.9%) and in Greece (+0.4%).

* 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: 7001-07 Price Indices of Construction Work, Types of Constructions and Costs of Construction Output
7003-07 Producer Price Indices – Basic Information
7004-07 Industrial Producer Price Indices
7005-07 Agricultural Producer Price Indices
7008-07 Price Indices of Market Services in the Business Sphere
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