Producer price indices - June 2021

Agricultural producer prices (+2.0%), industrial producer prices (+0.8%) and construction work prices (+1.4%) all went up, month-on-month. Service producer prices in the business sphere went down by 0.4%. From the year-on-year perspective, agricultural producer prices (+5.8%), industrial producer prices (+6.1%), construction work prices (+4.1%) and service producer prices in the business sphere (+0.9%) increased.

Month-on-month comparison

Agricultural producer prices were higher by 2.0%. Increasing were prices of fruit (+9.7%), oleaginous crops (+4.5%), pigs for slaughter (+3.9%) and milk (+0.3%). Decreasing were prices of poultry (-1.2%), eggs (-3.5%) and fresh vegetables (-12.1%).

Prices of industrial producers increased by 0.8%. Prices rose significantly in ‘basic metals, fabricated metal products’ (+2.8%), ‘coke, refined petroleum products and ‘wood, wood products, paper, printing’ (+4.0%). On the increase were also prices in ‘food products, beverages, tobacco’ (+0.7%), thereof ‘preserved meat and meat products’ (+1.1%) and ‘vegetable and animal oils and fats’ (+5.4%). Prices decreased in ‘chemicals and chemical products’ (-3.7%).

According to an estimate, construction work prices rose by 1.4% and prices of construction material and products input were higher by 1.5%.

Service producer prices in the business sphere fell by 0.4%. On the decrease were prices of ‘employment services’ (-3.4%), ‘advertising and market research services’ (-2.5%), ‘management consulting services’ (-1.2%) and ‘computer programming, consultancy and related services’ (-1.0%). Prices of ‘warehousing and support services for transportation’ (+0.5%) and ‘land transport services’ (+0.4%) rose. Service producer prices in the business sphere, excluding advertising services fell by 0.3%, m-o-m.

Year-on-year comparison

Agricultural producer prices went up by 5.8% (+4.4% in May). Prices in the crop production grew by 9.0%. On the increase were prices of cereals (+10.7%) and oleaginous crops (+15.8%). Prices of vegetables (-14.8%), potatoes (-4.4%) and fruit (-3.7%) went down. Prices in animal products grew by 2.0% (for the first time after thirteen months). On the increase were prices of milk (+6.3%), cattle for slaughter (+5.3%) and eggs (+5.2%). Prices of pigs for slaughter dropped by 9.7%.

Prices of industrial producers grew by 6.1% (in May they rose by 5.1%). This June increasing is the highest since May 2011. Prices rose primarily in ‘coke, refined petroleum products’. Prices went up significantly in ‘chemicals and chemical products’ (+39.6%), mainly due to the low comparative base in June 2020. Prices rose in ‘basic metals, fabricated metal products’ (+14.1%) and ‘wood, wood products, paper, printing’ (+8.9%). On the increase were prices in ‘food products, beverages, tobacco’ (+0.7%), thereof ‘vegetable and animal oils and fats’ (+16.7%) and ‘dairy products’ (+3.9%). On the other hand, lower were prices in ‘preserved meat and meat products’ (-5.0%). On the decrease were prices in ‘transport equipment’ (-2.6%), thereof ‘parts and accessories for motor vehicles’ (-3.8%).
Among the main industrial groupings, higher were primarily prices of ‘intermediate goods’ (+12.0%) and ‘energy’ (+8.9%).

According to an estimate, construction work prices were higher by 4.1% (+2.7% in May) and prices for construction material and products input increased by 9.5% (+7.8% in May).

Service producer prices in the business sphere were higher by 0.9% (+1.1% in May). Prices for ‘employment services’ (+7.3%), ‘security and investigation services’ (+3.3%), ‘warehousing and support services for transportation’ (+2.2%), ‘computer programming, consultancy and related services’ (+2.1%) and ‘management consulting services’ (+1.9%) rose. Lower were prices of ‘information services’ (-5.2%), ‘advertising and market research services’ (-2.3%) and ‘architectural and engineering services’ (-1.7%). Service producer prices in the business sphere, excluding advertising services, grew by 1.2% (+1.3% in May).

Industrial producer prices in the EU – May 2021 (preliminary data)

According to the Eurostat News Releases, industrial producer prices increased in May by 1.4% (in April they rose by 0.9%) in EU27, month-on-month. The highest increase was recorded in Ireland (+5.3%). Prices were higher in Slovakia (+0.8%), Czechia (+0.9%), Austria (+1.1%), Poland (+1.3%) and Germany (+1.4%).

Industrial producer prices increased in May by 9.6% (in April they rose by 7.6%) in EU27, year-on-year. The highest increase was recorded Ireland (+45.1%). Prices went up in Slovakia (+3.4%), Czechia (+5.1%), Germany (+6.4%), Austria (+6.8%) and Poland (+8.6%).

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