Producer price indices - March 2005
Further decrease in prices of crop products
Publication Date: 14. 04. 2005
Product Code: r-7001-05
Month-on-month comparison:
Agricultural producer prices fell by 1.1%. Decreases were reported for prices of vegetables (-8.8%), potatoes (-6.6%) and cereals (-3.3%), also pigs for slaughter and poultry. On the other hand, prices of cattle for slaughter and eggs grew by 1.6% and 1.4%, respectively.
Industrial producer prices rose by 0.2% (like in February). In terms of impact on the m-o-m index of total industry, significant increases were recorded for ‘coke, refined petroleum products’ (+2.8%), ‘chemicals, chemical products and man-made fibres’ (+1.2%) and ‘basic metals, fabricated metal products’ (+0.3%). On the other hand, prices went down particularly in ‘food products, beverages and tobacco’ (-0.3%), ‘transport equipment’ (-0.5%) and ‘coal and lignite, peat’ (-0.7%).
Prices of construction work and prices of construction material inputs rose by 0.2% both.
Market services prices in the business sphere grew by 0.9%, reflecting growth of prices in ‘real estate, renting and business activities’ (+1.2%, higher prices of radio and TV commercials and exhibition and fair service activities). Further, prices in ‘insurance’ grew by 0.8%.
Year-on-year comparison:
The decrease in agricultural producer prices that started in January continued. Prices decreased by 15.3% (-11.4% in February). Crop product prices fell by 43.8% in total, which is the biggest y-o-y drop since 1992. Decreases continued in prices of potatoes (-69.8%), vegetables (-52.3%), fruit (-16.0%) and cereals (-34.0%, particularly wheat). Animal product prices grew by 8.1% due to higher prices of pigs for slaughter (+19.0%), cattle for slaughter (+20.1%) and milk (+6.4%). Prices of eggs were down (-29.8%).
The growth of industrial producer prices slowed down to 6.4% (from 7.1% in February). The overall price level was affected by higher prices of ‘basic metals, fabricated metal products’ (+24.2%, compared to 27.4% in February) and prices of ‘coke, refined petroleum products’ (+30.8%, 31.9% in February). The y-o-y growth of prices in both these branches slowed down slightly in the first three months of 2005 and was lower than in the 4th quarter of 2004. Significantly higher were prices in ‘coal and lignite, peat’ (+22.5%, compared to 22.9% in February). The rise in prices of ‘food products, beverages and tobacco’ slackened (+0.5%, 1.1% in February).
Among the main industrial groupings, prices of ‘energy’ (+13.1%) and ‘intermediate goods’ (+8.0%) grew most.
Prices of construction work were higher by 4.1% (like in February) and prices of construction material inputs grew by 7.7% (+8.5% in February).
Market services prices in the business sphere grew by 1.2% (+1.1% in February) in total, responding to higher prices in ‘real estate, renting and business activities’ (increases in prices of TV and radio commercials and computer-related service activities) and ‘financial intermediation, except insurance and pension funding’.
Industrial producer prices in the EU – February 2005*
On average for the EU member states (EU25) by results of Eurostat, industrial producer prices went up by 0.4% m-o-m . The highest m-o-m increases among member states for which data are available were recorded in Denmark (+1.2%), Hungary (+1.1%) and the Netherlands (+1.0%). Prices in Slovakia increased by 0.3%.
In terms of y-o-y comparison, prices in the EU25 grew by 5.0% in total, most in Hungary (+10.0%), the United Kingdom (+8.7%), Luxembourg (+8.5%) and Cyprus (+7.8%). Prices in Slovakia were higher by 2.1%.
* Preliminary data
Analysis - Producer price indices in the 1st quarter of 2005
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 results of 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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