Producer price indices - July 2017

In July 2017 compared with the previous month, construction work prices went up by 0.1%. Agricultural producer prices and industrial producer prices both went down by 0.7% and 0.2%, respectively. Prices of market services were lower by 0.8%. In comparison to July 2016, agricultural producer prices grew by 13.0% and industrial producer prices rose by 1.1%. Construction work prices and prices of market services were both higher by 1.6% and 1.4%, respectively.

Month-on-month comparison:
Agricultural producer prices fell by 0.7%. Prices of cereals (-0.7%), eggs (-3.9%), oil plants
(-4.7%) and fresh vegetables (-7.7%) went down. Prices of poultry (+5.5%), milk (+0.8%) and pigs for slaughter (+0.5%) went up.

Prices of industrial producers went down by 0.2%. Lower were prices in ‘chemicals and chemical products’ (-2.9%), ‘mining and quarrying’ (-0.5%) and transport equipment’ (-0.3%). Prices decreased also in ‘coke, refined petroleum products’. Higher were prices in ‘food products, beverages, tobacco’ (+0.3%), thereof ‘dairy products’ (+1.7%).

According to an estimate, construction work prices rose by 0.1% and construction material input prices stayed unchanged.

Market services prices in the business sphere dropped by 0.8% due to the price decreasing of ‘advertising and market research services’ (-12.4%) and ‘land transport services and transport services via pipelines’ (-0.3%). Higher were prices of ‘employment services’ (+1.9%) and ‘publishing services’ (+1.1%). Market services prices excluding advertising services went up by 0.2%.

Year-on-year comparison:
Agricultural producer prices were higher by 13.0% (+12.5% in June). Prices of crop products grew by 8.4% due to increasing prices of fresh fruit (+19.6%), cereals (+6.4%) and oil plants (+5.4%). Prices of potatoes (-9.0%) and fresh vegetables (-5.4%) went down. Prices of animal products went up by 18.7%. Higher were prices of milk (+37.0%), pigs for slaughter (+15.2%) and eggs (+11.0%). Prices of poultry fell by 1.1%.

Prices of industrial producers rose by 1.1% (+1.3% in June). Prices went up particularly in ‘basic metals, fabricated metal products’ (+5.4%). Prices rose in ‘food products, beverages, tobacco’ (+4.0%), thereof ‘dairy products’ (+15.8%) and ‘preserved meat and meat products’ (+5.3%). On the increase were also prices in ‘mining and quarrying’ (+2.9%). Prices went down in ‘transport equipment’ (-2.6%) and ‘electricity, gas, steam and air conditioning’ (-1.1%).

Among the main industrial groupings, prices of ‘non-durable consumer goods’ (+3.9%) increased the most.

According to an estimate, construction work prices rose by 1.6% (like in June after specification) and construction material input prices grew by 1.8% (+2.0% in June).

Prices of market services in the business sphere were higher by 1.4% (+1.1% in June). Increasing were prices in ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+5.3%), ‘publishing services’ (+2.8%) and ‘advertising and market research services’ (+2.2%). Decreasing were prices of ‘telecommunications services’ by 1.1%. Market services prices excluding advertising services increased by 1.3% (+1.0% in June). 

Industrial producer prices in the EU – June 2017*
According to the Eurostat News Releases, industrial producer prices went down in June by 0.2% (-0.4% in May) in EU28, month-on-month. The largest decrease in prices was observed in Greece (-1.3%). Prices went down in the Czech Republic (-0.7%), Poland (-0.4%), Austria and Slovakia (-0.1% both) and remained stable in Germany. Prices rose the most in Latvia (+0.7%).

Industrial producer prices were higher in June by 2.6% (+3.7% in May) in EU28, year-on-year.

The largest increase in prices was recorded in Belgium (+6.4%). Prices rose in Poland (+3.7%), Germany (+2.2%), Slovakia (+2.0%), in the Czech Republic and Austria (+1.3% both). A price decrease was observed only in Luxembourg (-3.2%).

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* Preliminary data

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