Producer price indices - February 2008

In February 2008, compared to the previous month, prices of agricultural and industrial producers were up by 0.7% and 0.1%, respectively; prices of construction work and market services grew by 0.4% and 1.1%, respectively.
In comparison to February 2007, prices of agricultural and industrial producers increased by 27.1% and 5.6%, respectively; prices of construction work and market services were up by 4.5% and 3.4%, respectively.
Month-on-month comparison:

Agricultural producer prices grew by 0.7% in total. Prices of crop products rose by 2.0% due to higher prices of cereals (+3.4%). Prices of potatoes, fruit and vegetables fell by 5.8%, 2.3% and 1.7%, respectively. Prices of animal products fell by 1.0%; lower were prices of milk (-0.2%), poultry (-1.6%) and pigs for slaughter (-3.6%). Higher prices were recorded for eggs (+0.9%).

Industrial producer prices rose by 0.1% (+1.9% in January). The growth of price level came mainly from higher prices in ‘basic metals and fabricated metal products’ (+0.6%), ‘machinery and equipment” (+0.9%) and “chemicals, chemical products and man-made fibres’ (+1.1%). Prices increased in 'food products, beverages and tobacco’ by 0.2%, of which the most marked increase was recorded for ‘animal and vegetable oil and fats’ by 6.7% and ‘prepared animal feed’ by 2.4%. On the other hand, prices dropped in ‘meat and meat products’ by 1.6% and ‘dairy products and ice cream’ by 1.4%. Prices decreased in ‘transport equipment’ by 0.9%, ‘coke, refined petroleum products' by 0.8% and in ‘rubber and plastic products’ by 0.6%.

Construction work prices rose by 0.4%, and so did prices of construction material input (+0.6%).

Prices of market services in the business sphere grew by 1.1%, due to a 1.8% price rise in ‘real estate, renting and business services’ (prices of advertising services increased by 2.1%). Further, prices in ‘financial intermediation, except insurance and pension funding’ and ‘freight transport and storage services’ increased by 0.5% both.


Year-on-year comparison:

Agricultural producer prices were higher by 27.1% (+26.9% in January). Prices of crop products grew by 35.9%, mainly due to higher prices of cereals (+60.0%) and oil plants (+50.3%). Further, the prices of fruit increased by 39.2%. The prices of potatoes and vegetables fell by 39.6% and 11.0%, respectively. Prices of animal products were higher by 16.6%. The prices of eggs, milk and poultry grew by 30.8%, 29.0% and 20.3%, respectively. Lower prices were recorded for pigs for slaughter (-3.4%) and cattle for slaughter (-2.4%).

Industrial producer prices increased by 5.6% (+6.0% in January). Prices in ‘food products, beverages and tobacco’ showing a 10.9% increase (+11.4% in January) influenced heavily the price level while the biggest contribution came from prices of ‘dairy products and ice cream’ (+19.6%) and ‘prepared animal feed’ (+35.6%). Prices of ‘coke, refined petroleum products’ grew by 28.4% (+31.6% in January) and prices of ‘electrical energy, gas, steam and water’ by 9.3% (+9.4% in January). In the year-on-year comparison, prices went down particularly in ‘transport equipment’ by 4.2% (-2.9% in January), of which particularly prices of ‘parts and accessories for motor vehicles and their engines’ (-7.5%). Prices of ‘rubber and plastic products’ dropped by 2.2% (-1.6% in January).

Among the main industrial groupings, the most significant price increases were recorded for ‘energy’ (+14.8%) and ‘non-durable consumer goods’ (+6.2%).

Construction work prices were higher by 4.5% (+4.6% in January); construction material input prices grew by 3.3% (+2.9% in January).

Prices of market services in the business sphere were higher by 3.4% in total (+2.9% in January). Prices of ‘real estate, renting and business services’ increased by 4.9% (prices of advertising services by 16.1%) and prices of ‘freight transport and storage services’ by 2.3%. Higher prices were recorded also in ‘financial intermediation, except insurance and pension funding services’ (+1.8%) and in ‘post and telecommunication services’ (+1.3%.


Industrial producer prices in the EU – January 2008*

According to Eurostat News Release, industrial producer prices in the EU27 grew by 1.0% in January month-on-month (+0.3% in December). Among member states for which data are available, the highest increases were recorded in Hungary (+5.1%), Finland (+2.4%) and in Lithuania (+2.3%). The lowest accruals were recorded in Ireland (+0.3%), Italy (+0.4%) and in France and Luxembourg (+0.5% both). Prices went up in Germany by 0.8% and in Slovakia by 1.0%. A price decrease was registered in none of the countries, m-o-m.

Year-on-year, prices in the EU27 were higher by 5.8% in January (+4.7% in December). The highest increases were observed in Lithuania (+15.8%), Denmark (+15.6%) and in Bulgaria (+13.0%) and the lowest in Germany (+3.3%), in Ireland and Finland (+3.9% both). Prices went up in Slovakia by 4.3%. A price decrease was registered in none of the countries, y-o-y.

* Preliminary data

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Note
Contact: Miloslav Beranek, phone (+420) 274 052 665, e-mail: miloslav.beranek@csu.gov.cz
Hana Sykorova, phone (+420) 274 054 101, e-mail: hana.sykorova@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: 20th 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 the final data are released on the 45th calendar day of the following quarter.
Related publications: 7001-08 Price Indices of Construction Work, Types of Constructions and Costs of Construction Output
7003-08 Producer Price Indices – Basic Information
7004-08 Industrial Producer Price Indices
7005-08 Agricultural Producer Price Indices
7008-08 Price Indices of Market Services in the Business Sphere
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