Producer price indices - June 2004
Prices of coke, iron and steel keep growing significantly
Publication Date: 16. 07. 2004
Product Code: r-7001-04
Month-on-month comparison:
Agricultural producer prices fell by 4.2%. Considerable decreases were recorded for prices of eggs (-11.5%), early potatoes (-31.2%) and vegetables (-32.6%, for the first time since October 2003). Further, prices of cereals and poultry fell. On the other hand, prices of pigs for slaughter, cattle for slaughter, milk and fruit grew.
Industrial producer prices continued increasing, being by 1.1% higher (the highest m-o-m growth since October 2000). A further price increase in branch ‘basic metals and fabricated metal products‘ was the decisive factor affecting the growth of the total price level. Prices in the whole branch grew by 5.0% in June, as against 3.7% in May (prices of basic iron, steel and ferro-alloys increased by 11.3% in June). Also prices in ‘coke, refined petroleum products‘ increased markedly (+10.0%, due to higher prices of coke oven products). On the other hand, the growth of prices in ‘food products, beverages and tobacco‘ slowed down from 0.7% in May to 0.3% in June. Significantly went down prices in ‘other manufactured goods n.e.c.‘ – by 3.4% (June 2004 was the second successive month when prices of secondary raw materials were down).
Prices of construction work rose by 1.0%; those of construction material inputs fell by 0.4%.
After five months of increases, prices of market services in the business sphere decreased by 0.5%, due to lower prices in ‘real estate, renting and business activities’ (-0.9%, due to lower prices of radio and TV commercials and of exhibition and fair service activities). On the other hand, prices in ‘financial intermediation, except insurance and pension funding’ grew by 1.2% (higher charges for accounting entries, but lower charges for standing order changes).
Year-on-year comparison:
Agricultural producer prices grew by 10.6% (+14.2% in May). Price growth of crop products slowed down from 36.6% in May to 17.0% in June. Considerable price increases were recorded especially for cereals (+35.3%) and fruit (+17.1%). Prices of potatoes grew only by 2.7% (+113.6% in May). On the other hand, prices of vegetables fell (-13.0%). Prices of animal products grew by 6.7%, due to increases in prices of pigs for slaughter (+11.4%), eggs (+13.1%), cattle for slaughter (+5.0%), poultry (+4.7%) and milk (+2.7%).
Industrial producer prices rose by 6.2%. This was the highest y-o-y change since March 1998. The total price level was decisively influenced by a further marked increase in ‘basic metals and fabricated metal products‘ (+20.0%). A considerable price increase of 41.4% in ‘coke, refined petroleum products‘ was affected by higher prices of petroleum and coke oven products. Compared with the y-o-y increase in May 2004 (+26.5%), the rise was caused by a marked upswing of prices of coke. Prices in ‘food products, beverages and tobacco‘ further grew by 5.5% (higher prices were reported primarily for grain mill products, starches and starch products /+15.5%/, prepared animal feeds /+14.2%/ and other food products /+7.8%/). Prices in ‘electricity, gas, steam and water supply‘ (+4.9%) were also higher y-o-y.
Among the main industrial groupings, the highest y-o-y price increases took place in ‚energy‘ (+10.9%) and ‚intermediate goods‘ (+8.4%).
Prices of construction work and construction material inputs were higher by 3.5% and 5.2%, respectively.
Prices of market services in the business sphere grew by 2.6% in total (the same increase as in May). Prices grew in ‘real estate, renting and business activities’ (prices were up of TV and radio commercials and exhibition and fair service activities) and, further, in ‘insurance’ and ‘financial intermediation, except insurance and pension funding’ in particular.
Industrial producer prices in the EU – May 2004*
On average for the EU member states (EU25), industrial producer prices went up by 0.6% m-o-m in May. The highest m-o-m increases were recorded in Cyprus (+2.8%), Lithuania (+2.2%) and Hungary (+1.2%). Prices went down in Sweden only (-0.2%).
Prices in EU25 were up by 2.6% in total y-o-y . The highest increases were observed in Hungary (+10.0%), Latvia (+6.9%) and Cyprus (+5.6%), the lowest in Finland (+0.1%), Ireland (+0.9%) and Germany (+1.6%).
* Preliminary data
Analysis - Producer price indices in the 2nd quarter of 2004
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 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 for the price indices of construction work. The price indices of construction work will be updated, using the results of the completed quarterly survey, and the final data will be released on the 45th calendar day of the following quarter.
Related publications: 7001-04 Price Indices of Construction Work and Constructions
7003-04 Producer Price Indices – Basic Information
7004-04 Industrial Producer Price Indices
7005-04 Agricultural Producer Price Indices
7008-04 Price Indices of Market Services in the Business Sphere
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