Producer price indices - January 2008

In January 2008, compared to the previous month, prices of agricultural and industrial producers were up by 2.3% and 1.9% respectively; prices of construction work and market services grew by 0.7% and 0.8% respectively.
In comparison to January 2007, prices of agricultural and industrial producers increased by 26.9% and 6.0% respectively, prices of construction work and market services were up by 4.6% and 2.9% respectively.
Month-on-month comparison:

Agricultural producer prices grew by 2.3% in total. Prices of crop products rose by 3.6% due to higher prices of potatoes (+17.9%), oil plants (+11.3%), vegetables (+3.6%) and cereals (+2.0%). The prices of fruit fell by 3.5%. Prices of animal products grew by 0.6%; the prices of milk were higher by 1.2%, the prices of pigs for slaughter and poultry both by 0.2%. After five months of continuing growth the prices of eggs decreased (-1.7%).

Industrial producer prices rose by 1.9%, which is the highest increase since January 1995. The growth of prices was influenced the most significantly by price increases in ‘electrical energy, gas, steam and water’ (+9.3%; of which ‘production and distribution services of electricity’ +11.5%), ‘coal and lignite; peat; crude petroleum’ (+13.6%) and ‘food products, beverages and tobacco’ (+0.4%). Among ‘food products and beverages’, the prices of ‘animal and vegetable oils and fats’ were higher by 2.9%, ‘grain mill products, starches and starch products’ by 2.6% and ‘beverages’ by 1.2%. On the other hand, the prices of ‘dairy products and ice cream’ were down by 1.6% after nine months of continuing growth. Prices decreased in ‘basic metals and fabricated metal products’ (-0.4%), ‘rubber and plastic products’ (-0.3%) and ‘transport equipment’ (-0.1%).

Construction work prices and construction material input prices grew by 0.7% and 0.1% respectively.

Prices of market services in the business sphere grew by 0.8% due to price increases in ‘post and telecommunication services’ by 2.5% (higher prices of ‘national post services’) and ‘financial intermediation, except insurance and pension funding services’ by 1.5% (higher prices of ‘monetary intermediation services’ and ‘financial leasing services’). Also prices of ‘freight transport and storage services’ (+0.8%) and ‘real estate, renting and business services’ increased (+0.4%).


Year-on-year comparison:

Agricultural producer prices were higher by 26.9% (+26.6% in December). Prices of crop products grew by 36.9%, mainly due to higher prices of cereals (+62.9%) and oil plants (+48.8%). The prices of fruit increased by 25.0%. The prices of potatoes and vegetables fell by 35.7% and 5.8% respectively. Prices of animal products were higher by 15.8%. The prices of milk, eggs and poultry grew by 29.3%, 25.2% and 21.3% respectively. Lower prices were recorded for pigs for slaughter (-5.4%) and cattle for slaughter (-2.6%).

Industrial producer prices in the business sphere grew by 6.0% (+5.3% in December), which is the highest increase since March 2005. The growth was mainly affected by higher prices of ‘food products, beverages and tobacco’ by 11.4% (+11.8% in December), ‘coke, refined petroleum products’ by 31.6% (+23.1% in December), ‘electrical energy, gas, steam and water’ by 9.4% (+7.6% in December) and ‘coal and lignite; peat, crude petroleum’ by 19.4% (+12.0% in December). Prices were down only in ‘transport equipment’ by 2.9% (-2.7% in December) and ‘rubber and plastic products’ by 1.6% (-2.0% in December).
Among the main industrial groupings, prices of ‘energy’ (+15.6%) and ‘non-durable consumer goods’ (+6.7%) increased the most.

Construction work prices and construction material input prices were up by 4.6% (+4.4% in December) and 2.9% (+3.5% in December) respectively.

Prices of market services in the business sphere were higher by 2.9% in total (+1.6% in December). Prices of ‘real estate, renting and business services’ grew by 4.0% (prices of ‘advertising services’ up by 15.7%) and prices of ‘freight transport and storage services’ by 2.3%. Prices of ‘financial intermediation, except insurance and pension funding services’ were higher by 2.0% and prices of ‘post and telecommunication services’ by 1.4%.


Industrial producer prices in the EU – December 2007*

According to Eurostat News Release, industrial producer prices in the EU27 grew by 0.2% in December month-on-month (+1.2% in November). Among member states for which data are available, the highest increases were recorded in Romania (+1.6%), Ireland (+1.0%) and Belgium (+0.9%). The largest decreases were registered in Bulgaria (-1.1%) and Finland (-0.5%). Prices in Germany, Italy and the Czech Republic were down by 0.1% each. No price changes were registered in Slovakia and the Netherlands.
Year-on-year, prices in the EU27 were higher by 4.5% (+4.4% in November). The highest increases were observed in Lithuania (+15.6%), Bulgaria (+11.3%) and Denmark (+11.0%), and the lowest in Finland (+1.7%), Germany (+2.5%) and Slovakia (+2.8%). A price decrease was registered in none of the countries.
The average industrial producer price index for the year 2007, compared to the year 2006, increased by 2.7% for the EU27.

* 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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