Producer price indices - July 2004
July: meat prices growing
Publication Date: 13. 08. 2004
Product Code: r-7001-04
Month-on-month comparison:
Agricultural producer prices grew by 2.2%. A considerable increase was recorded for prices of pigs for slaughter (+14.3%); also prices of cattle for slaughter (+4.4%) and poultry (+0.6%) went up. On the other hand, prices of early potatoes, cereals and fruit fell by 36.1%, 4.0% and 13.2%, respectively.
Industrial producer prices have been growing m-o-m since August 2003; they increased by 0.8% in July. Prices continued growing in ‘basic metals and fabricated metal products’. However, the growth rate markedly slowed down to 1.5% (as against 5.0% in June). Also prices in ‘food products, beverages and tobacco’ rose (+1.0%), especially due to higher prices of meat and meat products (+4.0%, which was the highest increase since August 2000). An increase in prices of ‘coke, refined petroleum products’ by 4.4% (higher prices of coke oven products) was another significant factor.
Prices of construction work rose by 0.4%; those of construction material inputs grew sharply by 2.4%.
Prices of market services in the business sphere fell by 0.4%, reflecting the price drop in ‘real estate, renting and business activities’ (-0.6%, lower prices of TV and radio commercials).
Year-on-year comparison:
Agricultural producer prices were by 13.5% higher (+10.6% in June). A 15.4% price growth of crop products was particularly affected by higher prices of cereals (+32.3%) and fruit (+8.7%). On the other hand, prices of potatoes and vegetables fell by 6.9% and 9.1%, respectively. Prices of animal products grew by 12.4%, due to price increases of pigs for slaughter (+26.2), milk (+3.3%), cattle for slaughter (+10.0%), poultry (+7.6%) and eggs (+9.0%).
Industrial producer prices were higher by 7.3% (+6.2% in June). This is the highest y-o-y change since November 1995. The overall price level was decisively affected by a further marked increase in prices of ‘basic metals and fabricated metal products’ (+22.3%). Considerable growth of prices by 45.4% (+41.4% in June) in ‘coke, refined petroleum products’ was primarily caused by higher prices of coke oven products. Prices of ‘chemicals, chemical products and man-made fibres’ rose by 10.2%. Higher prices were in ‘food products, beverages and tobacco’ by 6.5% (mainly grain mill products, starches and starch products +16.0%, prepared animal feeds +14.1%, other food products +8.4% and meat and meat products +7.7%). Prices in ‘electricity, gas, steam and water supply” (+4.9%) were also higher y-o-y.
Among the main industrial groupings, the highest y-o-y price increases took place in ‘energy’ (+11.6%) and ‘intermediate goods’ (+10.4%).
Prices of construction work and construction material inputs were higher by 4.6% and 7.5%, (the highest y-o-y change since 4.Q 2000, respectively January 2001).
Prices of market services in the business sphere grew by 2.7% (2.6% in June) in total, responding to higher prices of ‘real estate, renting and business activities’ (higher prices of TV and radio commercials and of exhibition and fair service activities) and also higher prices particularly in ‘financial intermediation’.
Industrial producer prices in the EU – June 2004*
On average for the EU member states (EU25), industrial producer prices remained constant month-on-month in June. The highest m-o-m increases were recorded in Cyprus (+1.8%), the Czech Republic (+1.1%) and Ireland (+0.7%). Prices went down most in Finland (-0.6%), Lithuania (-0.5%) and Sweden (-0.2%). France and the Netherlands reported no changes.
In terms of year-on-year comparison, prices in EU25 grew by 2.7% in total. The highest increases were observed in Hungary (+9.0%), Cyprus (+8.0%) and the Czech Republic (+6.2%), the lowest in Germany (+1.5%) and the Netherlands (+1.6%). Only Finland recorded a price fall (-0.4%).
* Preliminary data
Note
Contact: Hana Sykorova, phone (+420) 274 054 101, e-mail: sykorovah@gw.czso.cz
Miloslav Beranek, phone (+420) 274 052 665, e-mail: beranek@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 working 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 published are final, except for the price indices of construction work. The price indices of construction work will be updated, using the results of the completed quarterly survey, and their final figures 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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