Producer price indices - July 2005

Month-on-month comparison:

Agricultural producer prices grew by 0.1%. Increases were recorded for prices of vegetables (+9.6%), pigs (+6.3%), and poultry and fruit. On the other hand, lower prices were reported for potatoes (-6.8%), cereals (-2.3%), milk and eggs.

Industrial producer prices moderately rose by 0.1%. Prices went up especially in ‘coke, refined petroleum products’ (+4.8%; prices of refined petroleum products increased, prices of coke oven products dropped). A significant increase occurred also in prices of ‘chemicals, chemical products and man-made fibres’ (+0.9%). On the other hand, prices of ‘basic metals, fabricated metal products’ fell (-1.5%).

Prices of construction work grew by 0.1% and prices of construction material inputs decreased by 0.1%.

Market services prices in the business sphere decreased by 0.6% due to a price drop in ‘real estate, renting and business activities’ (-1.0%, lower prices of radio and TV commercials).

Year-on-year comparison:

Agricultural producer prices were lower by 11.0% (-9.2% in June) due to a 27.2% fall in prices of crop products in total. Prices of cereals (-35.0%, particularly wheat) continued to decrease. The drop in prices of potatoes and fruit slowed down to 15.8% (-42.3% in June) and 3.8% (-17.4% in June), respectively. Considerably higher were prices of vegetables (+45.3%). For the first time since March 2004, prices of animal products were lower (-0.8%) y-o-y. Prices of eggs, pigs (the first y-o-y price drop since March 2004) and poultry were lower by 19.1%, 5.9% and 3.7%, respectively. Prices of cattle for slaughter (+12.9%) and milk (+3.3%) were up.

The growth of industrial producer prices slowed down from 2.7% in June to 2.0% in July, which is the lowest growth since March 2004. The moderation of the growth rate takes place already for nine successive months. In July, the growth of prices of ‘basic metals, fabricated metal products’ markedly decelerated (from 5.7% in June to 2.6%) and fall in prices of ‘food products, beverages and tobacco’ was up (from 1.1% in June to 2.0%). Prices of ‘coke, refined petroleum products’ were higher by 10.1% (+9.7% in June), ‘electrical energy, gas, steam and water’ by 7.4% (roughly like in the preceding three months), ‘coal and lignite, peat’ by 23.0% (+23.6% in June).
Among the main industrial groupings, prices of ‘energy’ (+10.0%) and ‘consumer durables’ (+2.1%) grew most.

Prices of construction work were higher by 2.2% (+2.3% in June) and prices of construction material inputs increased by 1.9% (+4.5% in June).

Market services prices in the business sphere grew by 2.2% (+2.5% in June) in total, responding to higher prices in ‘real estate, renting and business activities’ by 1.7% (price increases in advertising services and computer-related service activities) and in ‘postal services and telecommunications’ by 4.2% (price increases in postal and telecommunication services). Further, prices were higher in ‘financial intermediation, except insurance and pension funding’ and in ‘national goods transport’.

Industrial producer prices in the EU – June 2005*

On average for the EU member states (EU25), according to data of Eurostat, industrial producer prices were up by 0.4% m-o-m in June. The highest m-o-m increases among member states for which data are available were recorded in Greece and Lithuania (+1.3% both) and in the Netherlands (+1.2%). Prices in Slovakia increased by 0.9% and in Germany by 0.5%. Prices went down only in the Czech Republic (-0.2%) and in Belgium and Portugal (-0.1% both).
In terms of y-o-y comparison, prices in the EU25 grew by 4.8% in total, most in the United Kingdom (+9.5%), Hungary (+9.0%) and Denmark (+8.7%). Prices in Slovakia were higher by 4.8% and in Germany by 4.6%.

* Preliminary data

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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@qw.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 are final, except the price indices of construction work. The price indices of construction work will be updated, using results of the completed quarterly survey, and final data will be released on the 45th calendar day of the following quarter.
Related publications: 7001-05 Price Indices of Construction Work and Constructions
7003-05 Producer Price Indices – Basic Information
7004-05 Industrial Producer Price Indices
7005-05 Agricultural Producer Price Indices
7008-05 Price Indices of Market Services in the Business Sphere
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