Producer price indices - March 2011
The biggest y-o-y price growth in industry in 6 years
Publication Date: 15. 04. 2011
Product Code: r-7001-11
In March 2011, compared with the previous month, agricultural and industrial producer prices grew by 2.3% and 1.0%, respectively. Prices of market services increased by 1.0%. Construction work prices decreased by 0.1%.
In comparison to March 2010, agricultural and industrial producer prices were higher by 31.0% and 6.3%, respectively. Prices of market services were 0.5% up. Construction work prices decreased by 0.4%.
* * *
Monthly changes
Agricultural producer prices increased by 2.3% in total. Prices of crop products grew by 3.5%. Higher were prices of cereals (+5.1%) and potatoes (+7.7%). Prices of plant oils (-0.6%), fruit (-0.8%) and vegetables (-1.9%) fell. Prices of animal products increased by 0.5%, higher were prices of cattle for slaughter (+0.5%), milk (+0.7%), poultry (+1.4%) and eggs (+3.7%). In contrast, prices of pigs for slaughter decreased by 1.0%.
Prices of industrial producers increased by 1.0% (+0.5% in February). The growth of price level was influenced significantly by the rising prices in ‘coke, refined petroleum products’ (+7.4%). Prices rose in ‘basic metals, fabricated metal products’ (+1.5%), ‘chemicals and chemical products’ (+1.4%) and ‘food products, beverages, tobacco’ (+0.5%).
According to an estimate, construction work decreased by 0.1%; construction material input prices increased by 0.5%.
Market services prices in the business sphere grew by 1.0%, affected by a 9.6% growth of prices in advertising and market research services (+18.2% in TV and radio advertising services). Prices of architectural and engineering services and technical consultancy services decreased (-0.7%). Market services prices in total excluding advertising services stayed unchanged.
Annual changes
Agricultural producer prices were 31.0% up (+29.7% in February). Prices of crop products grew by 56.1%. Considerable increases were registered for prices of cereals (+78.9%), plant oils (+60.2%), potatoes (+116.9%) and fruit (+27.3%). Prices of animal products grew (+6.3%), due to higher price of milk (+15.3%). On the increase were prices of poultry (+7.0%) and cattle for slaughter (+3.8%). On the decrease were prices of pigs for slaughter (-1.2%) and eggs (-27.4%). The considerable y-o-y growth was influenced particularly by lower comparative basis from the year of 2010.
Industrial producer prices rose by 6.3% (+5.4% in February). This is the most since March 2005. Prices were higher markedly in ‘coke, refined petroleum products’ (+25.8%), ‘basic metals, fabricated metal products’ (+13.8%) and ‘food products, beverages, tobacco’ (+5.9%). The more significantly price decrease was observed in ‘transport equipment’ (-2.4%).
Among the main industrial groupings, prices of ‘energy’ increased the most (+10.1%), the decrease was recorded only in ‘capital goods’ (-0.4%).
According to an estimate, construction work prices were 0.4% down (-0.3% in February). Construction material input prices were 3.9% up (+3.2% in February).
Market services prices in the business sphere were up by 0.5% (+0.3% in February). Increasing were prices in freight transport (+2.1%), financial services, except insurance and pension funding (+2.7%) and postal and courier services (+3.1%). Prices of advertising and market research services were higher by 2.0%. Lower prices were recorded in rental and leasing services (-5.8%), insurance services (-2.4%) and computer programming, consultancy and related services (-1.2%). Market services prices excluding advertising services increased by 0.3% in total (-0.4% in February).
Industrial producer prices in the EU – February 2011*
According to the Eurostat News Release, industrial producer prices in the EU27 increased by 0.8% in February (+1.2% in January), month-on-month. Among the Member States for which data are available, the highest increases were recorded in Lithuania (+2.0%), Belgium and Denmark (+1.9% both). Prices rose in Poland (+1.2%), Germany (+0.6%) and in the Czech Republic (+0.5%). For Austria, data are not available for February. Decreases were observed in Slovakia (-0.3%), Sweden (-0.2%) and Estonia (-0.1%).
EU27 producer prices rose by 7.1% in February (+6.4% in January), year-on-year. The largest increases were observed in Bulgaria (+12.5%), the Netherlands (+10.3%) and Belgium (+10.2%). Prices rose in Poland (+8.4%), Germany (+6.3%), the Czech Republic (+5.4%) and Slovakia (+3.4%). For Austria, data are not available for February. There was none y-o-y price decrease in the states of EU27.
* Preliminary data
Analysis - Producer price indices in the first quarter of 2011
Notes:
Responsible manager of the CZSO: Jiri Mrazek, Department Director
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 surveys
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
Market services price indices: 15th calendar day of reference month / 7th calendar day of the following month
Except for the construction work price indices, the published data are finalised. Construction work price indices are updated using the finished quarterly survey and the finalised data are released on the 45th calendar day of the following quarter.
Related publications:
7001-11 Price Indices of Constructions Works, Price Indices of Constructions and Indices of Construction Costs
7003-11 Producer Price Indices – Basic Information
7004-11 Industrial Producer Price Indices
7005-11 Agricultural Producer Price Indices
7008-11 Market Services Price Indices in the Business Sphere
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Next News Release: 16 May 2011
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