Producer price indices - January 2004
The growth of producer prices accelerated
Publication Date: 13. 02. 2004
Product Code: r-7001-04
Month-on-month comparison
Prices of agricultural producers grew, but their trends varied. Increases were recorded particularly for prices of cereals (+3.0%), oil plants (+7.9%), and fruit (+13.2%). Prices of milk, eggs, cattle for slaughter, potatoes, and vegetables grew too. On the other hand, prices of poultry and pigs for slaughter fell by 0.9% and 4.3%, respectively.
Prices of industrial producers rose by 0.8% (as against +0.2% in December 2003). Price increase in ‘electrical energy, gas, steam and water’ by 3.1% (prices of all the commodities rose: ‘production and distribution services of electricity’ by 3.6%, ‘collected and purified water’ by 4.1%, and ‘steam and hot water supply services’ by 1.7%) had a significant influence on the acceleration of the m-o-m growth rate of the price level. Further, higher prices were in ‘coke, refined petroleum products’ (+1.2%), ‘chemicals, chemical products and man-made fibres’ (+1.0%), and ‘basic metals and fabricated metal products’ (+0.6%). Though at a lower rate, prices of ‘food products, beverages and tobacco’ kept on growing too. Prices in ‘bread, fresh pastry goods and cakes’, ‘prepared animal feeds’ and ‘dairy products and ice cream’ went up, whereas prices of ‘meat and meat products’ were on the decrease for the third successive month in January.
Prices of construction work and construction material inputs rose by 0.5% and 0.1%, respectively.
Prices of market services in the business sphere grew by 1.0%, reflecting particularly a 2.3% price rise in ‘insurance’ (higher motor vehicle insurance premiums) and a 0.9% increase in ‘real estate, renting and business activities’ (higher prices of exhibition and fair service activities were not fully compensated for by lower prices of radio and TV commercials). Also prices in ‘financial intermediation, except insurance and pension funding’ and, to a lesser extent, prices in ‘national goods transport’ increased by 1.2% and 0.3%, respectively.
Year-on-year comparison
Prices of agricultural producers grew by 9.2%, especially due to higher prices of crop products (+24.0%). Considerable increases were reported particularly for prices of cereals (+22.1%) and potatoes (+121.2%). Prices of oil plants, fruit and vegetables rose too. Prices of animal products grew by 0.3%, affected by higher prices of eggs (+37.3%) and poultry (+2.4%). On the other hand, prices of pigs for slaughter and milk fell (-5.2% and -2.6%, respectively). Prices of cattle for slaughter stagnated.
Prices of industrial producers rose by 1.6% in January (+0.9% in December 2003). They were rising for the third successive month, indicating that the relatively long period of decrease in the overall price level was coming to an end. Markedly higher were prices of ‘food products, beverages and tobacco‘. They were growing from September 2003, being higher by 4.6% in January. Price increases were recorded for ‘bread, fresh pastry goods and cakes’ (+13.9%), ‘prepared animal feeds’ (+9.3%), ‘grain mill products, starches and starch products’ (+5.1%), and ‘meat and meat products’ (+3.8%). Significant price increases were also reported for ‘electrical energy, gas, steam and water’ (+2.8%) and ’basic metals and fabricated metal products’ (+2.6%), while prices of ‘coke, refined petroleum products’ dropped (-4.4%).
Among main industrial groupings, the highest y-o-y price increases took place in ‘non-durable consumer goods’ (+3.0%) and ‘energy’ (+1.2%).
Prices of construction work were by 2.4% up; those of construction material inputs were by 1.8% up.
Prices of market services in the business sphere grew by 1.7% in total, responding to price growth in ‘real estate, renting and business activities’ and in ‘insurance’.
Industrial producer prices in the EU-15 and in the Acceding Countries – December 2003 *
Fluctuating in individual countries, prices of industrial producers in total did not change month-on-month in the EU-15 on average. The highest m-o-m increase was observed in the United Kingdom (+0.6%), whereas prices remained unchanged in Germany, Belgium and Portugal, and dropped particularly in the Netherlands (-0.6%) and Ireland (-0.5%). In terms of year-on-year comparison, prices in the EU-15 grew by 1.0% in total, most in Luxembourg (+4.1%), the Netherlands (+2.1%) and Germany (+1.8%). Only Ireland (-0.7%) and Belgium (-0.2%) saw decreases.
Among the Acceding Countries, the highest m-o-m increase took place in Slovenia (+0.5%), while the highest y-o-y increase was observed in Slovakia (+8.7%). Only Estonia reported a y-o-y drop (-0.3%).
* 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: 7001-03 Price Indices of Construction Work and Constructions
7003-03 Producer Price Indices – Basic Information
7004-03 Industrial Producer Price Indices
7005-03 Agricultural Producer Price Indices
7008-03 Price Indices of Market Services in the Business Sphere
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