Producer price indices - July 2008

In July 2008, compared to the previous month, prices of agricultural and market services fell by 3.2% and 1.0%, respectively. Prices of industrial producers and construction work grew by 0.1% and 0.3%, respectively.
In comparison to July 2007, prices of agricultural and industrial producers increased by 21.4% and 5.2%, respectively; prices of construction work and market services were up by 4.8% and 3.8%, respectively.
Month-on-month comparison:

Agricultural producer prices fell by 3.2% in total. Prices of crop products decreased by 4.6% due to lower prices of fruit (-26.3%), cereals (-5.8%) and oil plants (-2.8%). The prices of potatoes grew by 1.3%. Prices of animal products decreased by 1.2%; lower were prices of eggs (-8.1%) and milk (-3.0%). Higher prices were recorded for cattle for slaughter (+0.2%) and pigs for slaughter (+2.4%).

Prices of industrial producers increased by 0.1% m-o-m. Prices went up the most significantly in ‘basic metals, fabricated metal products’ by 1.8%, in ‘chemicals, chemical products and man-made fibers’ by 1.7% and in ‘food products, beverages and tobacco’ by 0.4%, mainly in ‘animal and vegetable oils and fats’ by 2.8%. Prices went down particularly in ‘coke, refined petroleum products’ by 1.6% and in ‘transport equipment’ by 1.3%.

Construction work prices rose by 0.3%, prices of construction material input grew by 0.4%.

Prices of market services in the business sphere fell by 1.0%, due to a 1.9% price decrease in ‘real estate, renting and business services’ (prices of radio and TV commercials down by 17.9%). Prices in ‘freight transport and storage services’ and ‘financial intermediation, except insurance and pension funding’ grew by 0.7% both.


Year-on-year comparison:

Agricultural producer prices were higher by 21.4% (+25.4% in June). Prices of crop products grew by 32.7%, mainly due to higher prices of cereals (+43.7%), oil plants (+58.1%). The prices of fruit increased by 7.4%. The prices of potatoes and vegetables fell by 31.7% and 6.9%, respectively. Prices of animal products were higher by 7.7%. Prices of poultry, milk, pigs for slaughter and eggs grew by 13.9%, 8.8%, 7.5% and 3.3%, respectively. Lower prices were recorded for cattle for slaughter (-1.0%).

Prices of industrial producers increased by 5.2% (+5.3% in June). The price level was most influenced by prices in ‘coke, refined petroleum products’ (+26.8%) and in ‘food products, beverages and tobacco’ (+8.3%), particularly in ‘prepared animal feed’ (+33.8%), in ‘animal and vegetable oils and fats’ (+33.9%) and in ’grain mill products, starches and starch products’ (+30.8%). Prices of ‘electrical energy, gas, steam and water’ increased by 9.1%. Prices decreased primarily in ‘transport equipment’ by 8.0% (of these ‘parts and accessories for motor vehicles and their engines’ by 12.4% and ‘motor vehicles’ by 4.9%), ‘wood and products of wood and cork’ (-5.0%) and ‘rubber and plastic products’ (-3.6%).
Among the main industrial groupings, the highest increases were recorded for the prices of ‘energy’ (15.0%) and ‘non-durable consumer goods’ (+4.3%).

Construction work prices were higher by 4.8% (+5.1 in June); construction material input prices grew by 1.8% (+ 2.0% in June).

Prices of market services in the business sphere were higher by 3.8% in total (+3.9% in June). Prices of ‘real estate, renting and business services’ increased by 5.1% (prices of advertising services and architectural and engineering activities up by 8.2% and 10.3%, respectively). Prices of ‘freight transport and storage services’ and ‘post and telecommunication services’ increased by 3.5% and 2.6%, respectively.


Industrial producer prices in the EU – June 2008*

According to the Eurostat News Release, industrial producer prices in the EU27 grew by 1.2% in June month-on-month (+1.4% in May). Among Member States, for which data are available, the highest increases were recorded in Denmark (+5.1%), in Lithuania and Luxembourg (+3.3% both) and the lowest in Slovakia (+0.2%), in Ireland (+0.3%) and in Slovenia (+0.6%). Prices in Germany increased by 0.9%. No price decreases below the level of May 2008 were recorded in any EU country.

Year-on-year, prices in the EU27 were higher by 10.1% in June (+9.1% in May), the highest increases were recorded in Denmark (21.7%), in the United Kingdom (+19.5%) and in Lithuania (+19.4%) and the lowest in the Czech Republic (+5.3%), in Ireland and in Slovakia (+6.4% both). Prices increased in Germany by 6.7%. No price decreases below the level of June 2007 were recorded in any EU country.

* 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 are final. The construction work price indices are updated 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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