Producer price indices - March 2008

In March 2008, compared to the previous month, prices of agricultural and industrial producers were up by 1.2% and 0.3%, respectively; prices of construction work and market services grew by 0.5% and 1.4%, respectively.
In comparison to March 2007, prices of agricultural and industrial producers increased by 26.1% and 5.3%, respectively; prices of construction work and market services were up by 4.9% and 3.7%, respectively.
Month-on-month comparison:

Agricultural producer prices grew by 1.2% in total. Prices of crop products rose by 2.7% due to higher prices of fruit (+6.6%), oil plants (+9.5%) and vegetables (+10.2%). The prices of potatoes fell by 2.6%. Prices of animal products decreased by 0.8%; lower were the prices of cattle for slaughter (-0.4%), milk (-0.5%), pigs for slaughter (-1.6%) and eggs (-2.1%). Higher prices were recorded for poultry (+1.6%).

Industrial producer prices rose by 0.3% (+0.1% in February). The growth of the price level was the most markedly influenced by higher prices of ‘coke, refined petroleum products’ (+3.7%), ‘basic metals and fabricated metal products’ and ‘chemicals, chemical products and man-made fibres’ (+0.6% both). The most significant drop of prices came in ‘food products, beverages and tobacco’ (-0.3%) after successive eleven months of growth. Of these the highest decreases were recorded for the prices of ‘dairy products and ice cream’ (-2.0%), ‘meat and meat products’ (-0.4%) and ‘other food products’ (-0.1%). Prices went down markedly in ‘coal and lignite; peat; crude petroleum’ (-1.2%), ‘wood and products of wood and cork’ (-1.0%) and ‘other manufactured goods n.e.c.’ (-0.9%).

Construction work prices rose by 0.5%, and construction material input prices by 0.6%.

Prices of market services in the business sphere grew by 1.4%, due to a 1.9% price rise in ‘real estate, renting and business services’ (prices of advertising services up by 2.5%). Prices of ‘post and telecommunication services’ and ‘freight transport and storage services’ increased by 1.0% and 0.4%, respectively.


Year-on-year comparison:

Agricultural producer prices were higher by 26.1% (+27.1% in February). Prices of crop products grew by 34.0%, mainly due to higher prices of cereals (+55.0%) and oil plants (+60.5%). Further, the prices of fruit increased by 35.9%. The prices of potatoes and vegetables fell by 44.6% and 11.3%, respectively. Prices of animal products were higher by 16.3%. The prices of milk, eggs and poultry grew by 28.5%, 21.6% and 20.0%, respectively. Lower prices were recorded for pigs for slaughter (-1.2%) and cattle for slaughter (-3.4%).

Industrial producer prices grew by 5.3% (+5.6% in February). The price level was influenced most significantly by prices of ‘food products, beverages and tobacco’ which rose by 10.8%, of which prices of ‘dairy products and ice cream’ were up by 17.3%, ‘prepared animal feed’ by 35.6% and ‘other food products’ by 8.6%. Prices of ‘coke, refined petroleum products’ increased by 26.5% and prices of ‘electrical energy, gas, steam and water’ by 9.3%. Prices went down y-o-y particularly in ‘transport equipment’ (-4.0%), of which particularly ‘parts and accessories for motor vehicles and their engines’ (-7.2%). Prices of ‘rubber and plastic products’ dropped by 2.3% and prices of ‘wood and products of wood and cork’ by 2.9% (-1.0% in February), of which ‘wood, sawn, planed or impregnated’ by 13.0%.

Among the main industrial groupings, the most significant price increases were recorded for ‘energy’ (+14.6%) and ‘non-durable consumer goods’ (+6.0%)
Construction work prices were higher by 4.9% (+4.5% in February); construction material input prices grew by 2.8% (+3.3% in February).

Prices of market services in the business sphere were higher by 3.7% in total (+3.4% in February). Prices of ‘real estate, renting and business services’ increased by 5.0% (prices of advertising services by 9.2%). Prices of ‘freight transport and storage services’ and ‘post and telecommunication services’ increased both by 2.4%.


Industrial producer prices in the EU – February 2008*

According to the Eurostat News Release, industrial producer prices in the EU27 grew by 0.5% month-on-month in February 2008 (+1.1% in January). Among the member states, for which data are available, the highest increases were recorded in Slovakia (+2.5%), Belgium (+1.5%) and Slovenia (+1.4%). Prices in Germany increased by 0.7%. Prices went down only in Luxembourg (-3.3%) and Denmark (-0.7%).
Year-on-year, prices in the EU27 were higher by 6.1% in February 2008 (+5.9% in January). The highest increases were observed in Lithuania (+17.3%), Bulgaria (+14.0%) and Romania (+13.6%), the lowest in Germany (+3.8%), Luxembourg (+4.2%) and Finland (+4.7%). Prices in Slovakia went up by 5.1%. A price decrease was registered in none of the countries.

* Preliminary data

Analysis - Producer price indices in the first quarter of 2008

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Note
Contact: Miloslav Beranek, phone (+420) 274 052 665, e-mail: miloslav.beranek@csu.gov.cz
Hana Sykorova, phone (+420) 274 054 101, e-mail: hana.sykorova@csu.gov.cz
Data source: CZSO survey
End of data collection / end of data processing:
Agricultural producer price indices: 24th calendar day of reference month / 8th calendar day of the following month
Industrial producer price indices: 20th calendar day of reference month / 7th calendar day of the following month
Construction work price indices: last calendar day of reference month / 5th working day of the following month
Price indices of market services: 15th calendar day of reference month / 7th calendar day of the following month
Except for the construction work price indices, the data published are final. The construction work price indices are refined using the finished quarterly survey and the final data are released on the 45th calendar day of the following quarter.
Related publications: 7001-08 Price Indices of Construction Work, Types of Constructions and Construction Output Costs
7003-08 Producer Price Indices – Basic Information
7004-08 Industrial Producer Price Indices
7005-08 Agricultural Producer Price Indices
7008-08 Price Indices of Market Services in the Business Sphere
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