Producer price indices - June 2005

Month-on-month comparison:

Agricultural producer prices grew by 2.9% in June. Increases were recorded for prices of potatoes (+33.3%), fruit (+29.2%), vegetables (+22.5%), and pigs and cattle for slaughter. On the other hand, lower prices were reported for eggs (-1.7%), cereals (-1.1%), poultry and milk.

Industrial producer prices were down by 0.2%. Prices decreased mainly in ‘chemicals, chemical products and man-made fibres’ (-2.4%), ‘basic metals, fabricated metal products’ (-0.7%) and ‘other manufactured goods n.e.c.’ (-2.9%). Conversely, prices increased in ’coke, refined petroleum products’ (+2.9%) and remained at the previous month’s level in ‘food products, beverages and tobacco’.
Prices of construction work and construction material inputs grew by 0.2% and 0.1%, respectively.

Market services prices in the business sphere increased by 0.4% due to a growth of prices in ‘postal services and telecommunications’ (+6.0%). Prices of telephone service (fixed lines) increased by 12.6% due to higher inclusive charges. On the other hand, prices in ‘real estate, renting and business activities’ fell by 1.0%.

Year-on-year comparison:

Agricultural producer prices were lower by 9.2% (-15.4% in May) due to a 26.4% drop in prices of crop products in total. Prices of potatoes (-42.3%, early varieties), cereals (-36.1%, particularly wheat) and fruit (-17.4%) continued decreasing. Considerably higher were prices of vegetables (+28.2%, as against -29.5 in May). Prices of animal products grew by 2.4% (+1.0% in May). Prices of cattle for slaughter (+17.7%), milk (+4.0%) and pigs for slaughter (+1.3%) were up. Prices of eggs and poultry were lower by 20.8% and 4.3%, respectively.

The growth of industrial producer prices slowed down from 4.0% in May to 2.7% in June. The moderation of growth rate takes place already for eight successive months. The growth of prices in ‘coke, refined petroleum products’ slackened markedly from 17.2% in May to 9.7% in June and so did in ‘basic metals, fabricated metal products’ from 11.7% in May to 5.7% in June. Also significant was deceleration of price growth in ‘chemicals, chemical products and man-made fibres’ to 2.1% (+5.5% in May). Prices in ‘food products, beverages and tobacco’ were down by 1.1%.
Among the main industrial groupings, prices of ‘energy’ (+9.9%) and ‘consumer durables’ (+2.1%) grew most.

Prices of construction work were higher by 2.4% (+2.7% in May) and prices of construction material inputs increased by 4.5% (+4.0% in May).

Market services prices in the business sphere grew by 2.5% (+1.5% in May) in total, responding to higher prices in ‘real estate, renting and business activities’ by 2.1% (price increases in advertising services and computer-related service activities) and in ‘postal services and telecommunications’ by 4.2% (price increase in postal and telecommunication services). Further, prices were higher in ‘financial intermediation, except insurance and pension funding’ and in ‘national goods transport’.

Industrial producer prices in the EU – May 2005*

On average for the EU member states (EU25), according to data of Eurostat, industrial producer prices were down by 0.2% m-o-m in May. The highest m-o-m decreases among member states for which data are available were recorded in the Czech Republic and Sweden (-0.7% both) and in the Netherlands (-0.6%). On the other hand, prices increased most in Slovakia (+0.7%), Denmark and Luxembourg (+0.6% both). Prices remained unchanged in Germany.
In terms of y-o-y comparison, prices in the EU25 grew by 4.5% in total, most in the United Kingdom (+9.5%), Hungary (+8.8%) and Denmark (+8.5%). Prices in Germany were higher by 4.1% and in Slovakia by 3.9%.

* Preliminary data

Analysis - Producer price indices in the 2nd quarter of 2005

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Note
Contact: Hana Sykorova, phone (+420) 274 054 101, e-mail: hana.sykorovah@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 the price indices of construction work. The price indices of construction work will be updated, using results of the completed quarterly survey, and final data will be released on the 45th calendar day of the following quarter.
Related publications: 7001-05 Price Indices of Construction Work and Constructions
7003-05 Producer Price Indices – Basic Information
7004-05 Industrial Producer Price Indices
7005-05 Agricultural Producer Price Indices
7008-05 Price Indices of Market Services in the Business Sphere
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