Producer price indices - July 2023

Agricultural producer prices fell by 4.0% month-on-month (m-o-m) and decreased by 14.3% year-on-year (y-o-y). Industrial producer prices went down m-o-m (-0.1%) and went up y-o-y (+1.4%). Construction work prices were higher m-o-m (+0.1%) and y-o-y (+4.8%). Service producer prices in the business sphere fell m-o-m (-1.3%) and grew y-o-y (+5.6%).

“In a year-on-year comparison, prices in industry continued to moderate their growth, to 1.4%. Prices of agricultural went down by more than 14%. Construction work prices, according to an estimate, went up almost by 5%, year-on-year. Service producer prices in the business sphere went up by 5.6%,” noted Vladimir Klimes, head of Industrial and International Trade Prices Statistics Unit of CZSO.

Agricultural producer prices were lower by 4.0% m-o-m. Decreasing were prices of cereals (-5.8%), oleaginous crops (-5.5%), milk and eggs (-5.2% both), poultry (-1.4%) and cattle for slaughter (-0.7%). Prices of pigs for slaughter went up by 2.9%. Y-o-y agricultural producer prices were lower by 14.3% (in June they dropped by 13.8%). Prices in the crop production fell by 24.5%. On the decrease were prices of oleaginous crops (-37.0%) and cereals (-32.6%). Prices of fruit (+18.7%), fresh vegetables (+22.9%) and potatoes (+40.0%) went up. Prices in animal products soared by 1.8%. On the increase were prices of pigs for slaughter (+29.0%), eggs (+27.6%) and poultry (+3.1%). Decreasing were prices of milk (-7.7%) and cattle for slaughter (-1.3%).

Prices of industrial producers went down by 0.1% m-o-m. Prices were lower in ‘chemicals and chemical products’ (-3.3%), ‘basic metals’ (-2.0%), ‘other non-metallic mineral products’ (-1.0%) and ‘food products’ (-0.7%), thereof ‘dairy products’ (-2.3%) and ‘prepared animal feeds’ (-3.0%). Prices rose particularly in ‘coke, refined petroleum products’. Prices were higher in ‘electricity, gas, steam and air conditioning’ (+0.6%), thereof ‘electricity, transmission and distribution services’ (+0.8%). Prices went up in ‘motor vehicles, trailers and semi-trailers’ (+0.6%), thereof 'parts and accessories for motor vehicles’ (+0.9%). Prices of industrial producers increased by 1.4% (in June they grew by 1.9%), y-o-y. Prices rose in ‘electricity, gas, steam and air conditioning’ (+15.9%), ‘coal and lignite’ (+73.4%), ‘food products’ (+4.9%), ‘other non-metallic mineral products’ (+11.2%) and ‘motor vehicles, trailers and semi-trailers’ (+3.4%). On the decrease were primarily prices in ‘coke, refined petroleum products’. Prices were lower also in ‘chemicals and chemical products’ (-20.8%), ‘basic metals’ (-14.0%) and ‘wood and of products of wood and cork’ (-18.6%). Among the main industrial groupings, higher were particularly prices of ‘non-durable consumer goods’ (+8.2%), y-o-y. Prices of ‘energy’ rose by 4.4%. On the decrease were only prices of ‘intermediate goods’ (-5.8%). Prices of industrial producers excluding energy rose by 0.4% y-o-y (in June they soared by 1.2%).

According to an estimate, construction work prices rose by 0.1% and prices of construction material and products input went down by 0.9% m-o-m. According to an estimate, y-o-y construction work prices soared by 4.8% (in June they increased by 5.7% after specification) and prices for construction material and products input grew by 0.9% (in June they rose by 1.2%).

Service producer prices in the business sphere decreased by 1.3% m-o-m. Price decreases were recorded in ‘advertising and market research services’ by 20.5%. Prices for ‘management consulting services’ (+1.9%) and ‘postal and courier services’ (+4.4%) grew. Service producer prices in the business sphere, excluding advertising services rose by 0.2%. Service producer prices in the business sphere went up by 5.6% y-o-y (in June they rose by 6.1%). Prices for ‘employment services’ (+21.3%), ‘postal and courier services’ (+12.8%), ‘computer programming, consultancy and related services’ (+9.1%), ‘real estate services’ (+6.7%), ‘advertising and market research services’ (+4.5%) and ‘land transport services’ (+3.5%) rose. Service producer prices in the business sphere, excluding advertising services, were higher by 5.8% (in June they soared by 5.9%).
 

Industrial producer prices in the EU – June 2023 (preliminary data)

According to the Eurostat News Releases, industrial producer prices decreased in June by 0.4% (in May they fell by 1.9%) in EU27, m-o-m. The largest decreases were recorded in Hungary (-2.5%), Bulgaria and Latvia (-2.4% both). Prices were lower in Austria (-1.3%), Slovakia (-0.6%), Poland (-0.5%) and Germany and Czechia (-0.3% both). The highest increase was observed in Ireland (+4.0). Industrial producer prices fell in June by 2.4% (in May they went down by 0.5%) in EU27, y-o-y. Prices decreased the most in Ireland (-17.1%), Belgium (-12.4%) and Bulgaria (-11.4%). The highest increases were observed in Hungary (+29.5) and Slovakia (+18.2%).  Prices were higher in Poland (+2.2%), Austria (+2.0%), Czechia (+1.9%) and Germany (+0.5%).

Responsible head at the CZSO: Jiří Mrázek, Director of Prices Statistics Department, phone (+420) 274 052 533, e-mail: jiri.mrazek@csu.gov.cz
Contact person: Jiří Šulc, Head of Agricultural, Construction, and Services Prices Statistics Unit, phone (+420) 274 052 148, e-mail: jiri.sulc@csu.gov.cz
Miloslav Beránek, Industrial and International Trade Prices Statistics Unit, phone (+420) 274 052 665, e-mail: miloslav.beranek@csu.gov.cz

Method of data acquisition: CZSO direct surveys
End of data collection / End of data processing:
Agricultural producer price indices: 26th calendar day of reference month / 8th calendar day of the following month
Industrial producer price indices: 20th calendar day of reference month / 9th calendar day of the following month
Service producer prices in the business sphere: 20th calendar day of reference month / 9th calendar day of the following month
Except for the construction work price indices, the published figures are final data. Estimates of the construction work price indices are carried out on the 9th calendar day of the following month. Then, construction work price indices are made more precise using results of the finished quarterly survey and the finalised data are released on the 46th calendar day of the following quarter.
Related publications:
011041 – 23 Price Indices of Constructions Works, Price Indices of Constructions, and Indices of Construction Costs
011044 – 23 Industrial Producer Price Indices
011045 – 23 Agricultural Producer Price Indices
011046 – 23 Service Producer Prices in the Business Sphere
Following outcomes: https://csu.gov.cz/producer-prices-publications
Next News Release will be published on: 18 September 2023