Producer price indices - March 2004
Producer prices continued to grow
Publication Date: 15. 04. 2004
Product Code: r-7001-04
Month-on-month comparison:
Prices of agricultural producers grew by 3.5%, which especially applied to cereals (+5.1%), oil plants (+4.3%), potatoes (+4.1%), pigs for slaughter (11.8%), as well as to cattle for slaughter, fruit and vegetables. On the other hand, prices of poultry and eggs fell by 0.6% and 1.2%, respectively.
Prices of industrial producers rose by 0.8%. The major contributor was the price rise of iron. That fact was reflected in an increase in the price level of ’basic metals and fabricated metal products’ (+2.9%). The price level rise in ‘other manufactured goods n.e.c.’ (+5.7%) resulted from an increase in prices of ‘metal secondary raw materials‘. Further significant increases were observed in ‘coke, refined petroleum products’ (+3.6%) and ‘food products, beverages and tobacco’ (+0.3% compared to +0.5% in February).
Prices of construction work rose by 0.4%, and prices of construction material inputs fell by 0.8%.
Prices of market services in the business sphere grew by 0.8%, following particularly a 1.2% rise in prices of ‘real estate, renting and business activities’ (higher prices of exhibition and fair service activities and of radio and TV commercials were not fully compensated for by lower prices of renting own property).
Year-on-year comparison:
Prices of agricultural producers grew by 18.7% (the highest y-o-y price rise since August 1996), especially due to higher prices of crop products (+45.0%). Considerable price increases were especially recorded for cereals (+35.9%) and potatoes (+116.4%). Prices of oil plants, fruit and vegetables rose, too. Prices of animal products grew by 3.3% due to increases in prices of pigs for slaughter (+3.1%), poultry (+4.8%) and eggs (+36.3%). Prices of cattle for slaughter and milk fell.
Prices of industrial producers rose by 2.1%. Prices of ‘food products, beverages and tobacco’ in particular (growth by 5.0%) had a key influence on the total price level. Higher than in March 2003 were primarily ‘other food products‘ (+6.9%, of which ‘bread, fresh pastry goods and cakes‘ accounted for an increase of 14.2%), ‘prepared animal feeds’ (+12.2%), ‘dairy products and ice cream‘ (+6.3%), and ‘grain mill products, starches and starch products’ (+10.9%). Prices of ‘meat and meat products’ were higher by 3.0%. Prices of ’basic metals and fabricated metal products’ grew by 5.6% and those of ‘other manufactured goods n.e.c.’ grew by 7.6% (influence of rapid price growth of ‘metal secondary raw materials‘). Prices of ‘electrical energy, gas, steam and water’ were higher by 2.8%. On the other hand, prices in ‘coke, refined petroleum products’ were below their March 2003 level by 9.2%.
Among main industrial groupings, the highest y-o-y price rise took place in ‘intermediate goods’ (+3.5%) and ‘consumer non-durables (+3.0%).
Prices of construction work and construction material inputs were higher by 2.5% and 2.1%, respectively.
Prices of market services in the business sphere grew by 2.6% in total, responding to higher prices of ‘real estate, renting and business activities’ (prices of TV and radio commercials up) and also of ‘insurance’, ‘national goods transport’ and ‘financial intermediation, except insurance and pension funding’.
Industrial producer prices in the EU-15 and in the Acceding Countries – February 2004 *
On EU-15 average, prices of industrial producers rose by 0.1% m-o-m . The highest m-o-m increases were reported for Spain (+0.6%), Belgium (+0.5%) and Portugal (+0.4%), while the prices dropped in Finland (-0.5%), Ireland and the United Kingdom (-0.2% each).
In terms of y-o-y comparison, EU-15 prices grew by 0.1% in total. Their increases were reported for Belgium (+1.7%), the United Kingdom (+1.0%) and Spain (+0.7%), and they rose most in Finland (-2.0%), Ireland (-0.9%) and Portugal (-0.5%).
As far as the Acceding Countries are concerned, m-o-m increases occurred in Hungary (+1.7%), Latvia, Slovenia and Slovakia (+1.0% each). The highest y-o-y increases were recorded in all of these four countries (Hungary +7.1%, Latvia +5.6%, Slovenia +3.5% and Slovakia +2.3%), while Lithuania saw a price drop of 2.6%.
* Preliminary data
Analysis - Industrial producer price indices: development in the first quarter of 2004
Note
Contact: Hana Sýkorová, phone (+420) 274 054 101, e-mail: hana.sykorova@csu.gov.cz
Jiřina Weissová, phone (+420) 274 052 118, e-mail: jirina.weissova@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 calendar 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 their final figures 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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