Producer price indices - July 2006

In July, month-on-month, prices of industrial producers and construction work grew by 0.7% and 0.3%, respectively. Prices of agricultural producers and market services were down by 6.7% and 0.3%, respectively.
In terms of year-on-year comparison, producer prices in agriculture were higher by 1.4%, in industry by 2.4%, prices of construction work and market services were up by 3.1% and 3.8%, respectively.

Month-on-month comparison:

Agricultural producer prices fell by 6.7%. On the decrease were prices of fruit (-17.0%), potatoes (-20.5%), vegetables (-40.8%), and also of eggs, poultry and milk. The prices of pigs, oil plants and cereals were up.

Prices of industrial producers grew by 0.7%. With the exception of January 2006, this is the biggest increase since November 2004. Mainly the prices of ‘food products, beverages and tobacco’ (+0.9%, as against -0.1% in June) were higher. Increase speeded up in the prices of ‘coke, refined petroleum products’ (+3.0%; 0.8% in June) and ‘basic metals and fabricated metal products’ (+1.0%; 0.6% in June).

Prices of construction work and prices of construction material inputs rose by 0.3% and 1.2%, respectively.

Prices of market services in the business sphere fell by 0.3%, especially due to a price decrease in ‘real estate, renting and business services’ by 0.4% (lower prices of radio and TV commercials by 4.0%).


Year-on-year comparison:

Agricultural producer prices were higher by 1.4% (+8.8% in June). The prices of crop products grew by 11.5% due to a considerable increase in prices of potatoes (+114.0%). Also the prices of oil plants (+15.3%), cereals (+8.3%) and fruit (+3.9%) were higher. The prices of vegetables were down by 11.8%. The prices of animal products fell by 3.2%; the prices of poultry (-11.0%), milk (-5.2%), and pigs (-2.0%) dropped. The prices of eggs and cattle for slaughter were up by 1.6% and 0.4%, respectively.

Prices of industrial producers increased by 2.4% (+1.8% in June), which is the highest figure over last 12 months. The main reason for the accelerating growth of the overall price level was the fact that the decrease in prices of ‘basic metals and fabricated metal products’ came to an end. For the first time after the eleven-month decrease, the price level of ‘basic metals and fabricated metal products’ increased (+0.5%, particularly prices of ‘basic precious metals and other non-ferrous metals’ were up). The prices of ‘food products, beverages and tobacco’ have been down year-on-year for 15 months and their fall decelerated to 1.2% from 2.1% in June. The growth of prices of ‘coke, refined petroleum products’ (+14.4%; 16.4% in June) and ‘electrical energy, gas, steam and water’ (+7.9%; 8.2% in June) slowed down.

Among the main industrial groupings, the prices of ‘energy’ grew most (+8.0%). A price decrease was reported only for ‘consumer non-durables’ (-0.1%).

Construction work prices were up by 3.1% (+2.9% in June). Construction material input prices grew by 1.0% (-0.3 in June).

Prices of market services in the business sphere were higher by 3.8% in total (+3.4% in June). The prices of ‘real estate, renting and business services’ grew (+5.7%; higher prices of ‘advertising services’ by 21.0%, ‘architectural and engineering services’ by 4.4% and ‘exhibition and fair service activities’ by 4.5%), and so did the prices of ‘financial intermediation, except insurance and pension funding’ (+2.6%).


Industrial producer prices in the EU – June 2006*

On average for the EU member states (EU25), according to data published by Eurostat, industrial producer prices were up by 0.1% month-on-month in June 2006 (+0.2% in the Czech Republic). Among member states, for which data are available, the highest increases were recorded in Denmark (+2.2%), Lithuania (+1.1%), Luxembourg and Hungary (+0.8% both). Prices in Slovakia rose by 0.2% and in Germany by 0.3%. A decrease was observed only in the United Kingdom (-0.9%). Prices in Greece and Spain remained unchanged.

Year-on-year, prices in the EU25 were higher by 6.4% in total in June. The highest increases were registered in Luxembourg (+14.0%), the United Kingdom (+9.7%), the Netherlands (+9.4%) and Slovakia (+9.1%). Prices in Germany were higher by 6.1%. The lowest increases were recorded in the Czech Republic (+1.8% in June), Ireland (+2.0%) and Slovenia (+2.7%). None of the EU member states registered a decrease.

* Preliminary

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Note
Contact: Hana Sykorova, phone (+420) 274 054 101, e-mail: hana.sykorova@csu.gov.cz
Miloslav Beranek, phone (+420) 274 052 665, e-mail: miloslav.beranek@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: 12th 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 final data are released on the 45th calendar day of the following quarter.
Related publications: 7001-06 Price Indices of Construction Work, Types of Constructions and Costs of Construction Output
7003-06 Producer Price Indices – Basic Information
7004-06 Industrial Producer Price Indices
7005-06 Agricultural Producer Price Indices
7008-06 Price Indices of Market Services in the Business Sphere
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