Producer price indices - March 2017

In March 2017 compared with the previous month, agricultural producer prices went up by 2.0%, construction work prices grew by 0.2% and prices of market services were higher by 1.1%. Industrial producer prices were lower by 0.1%. In comparison to March 2016, agricultural producer prices went up by 3.4% and industrial producer prices rose by 3.0%. Construction work prices and prices of market services were both higher by 1.3% and 1.1%, respectively.

Month-on-month comparison:
Agricultural producer prices grew by 2.0%. Prices of milk (+2.9%), poultry (+2.5%), potatoes (+2.0%), eggs (+1.9%), cereals (+1.6%) and oil plants (+1.5%) went up. Prices of fruit (-1.6%) and vegetables (-2.6%) went down.

Prices of industrial producers, after six months of growth, went down by 0.1%. Prices decreased the most significantly in ‘coke, refined petroleum products’. Prices were lower in ‘food products, beverages, tobacco’ (-0.2%), thereof ‘beverages’ (-1.4%) and ‘preserved meat and meat products’ (-0.5%). Prices rose in ‘basic metals, fabricated metal products’ (+0.8%) and ‘chemicals and chemical products’ (+0.7%).

According to an estimate, construction work prices rose by 0.2% and construction material input prices increased by 0.4%.

Market services prices in the business sphere grew by 1.1% due to the price increasing of ‘advertising and market research services’ (+9.9%), ‘legal and accounting services’ (+1.6%) and ‘computer programming, consultancy and related services’ (+1.2%). Market services prices excluding advertising services rose by 0.4%.

Year-on-year comparison:
For the first time after 14 months of decrease, agricultural producer prices were higher by 3.4% (-0.8% in February). Prices of animal products grew by 11.0% due to increasing prices of pigs for slaughter (+20.7%), milk (+14.1%) and eggs (+7.3%). Prices of crop products went down by 3.4%. Lower were prices of fresh vegetables (-36.0%), potatoes (-17.0%) and cereals (-5.4%). Prices of oil plants (+4.6%) and fruit (+2.0%) went up.

Prices of industrial producers rose by 3.0% (+3.1% in February). Prices went up importantly in ‘coke, refined petroleum products’. Higher were prices in ‘chemicals and chemical products’ (+10.2%), ‘mining and quarrying’ (+6.2%) and ‘basic metals, fabricated metal products’ (+6.1%). On the increase were also prices in ‘food products, beverages, tobacco’ (+1.5%), thereof ‘dairy products’ (+5.5%). Prices went down in ‘electricity, gas, steam and air conditioning’ (-1.2%), ‘basic pharmaceutical products’ (-1.0%) and ‘transport equipment’ (-0.8%).

Among the main industrial groupings, prices of ‘energy’ increased the most (+5.8%).

According to an estimate, construction work prices rose by 1.3% (+1.2% in February) and construction material input prices grew by 2.3% (+1.6% in February).

Prices of market services in the business sphere grew by 1.1% (+0.6% in February). Increasing were prices in ‘postal and courier services’ (+8.4%), ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+5.3%) and ‘advertising and market research services’ (+2.1%). Decreasing were prices in ‘architectural and engineering services’ (-1.2%). Market services prices excluding advertising services increased by 1.0% (+0.7% in February). 

Industrial producer prices in the EU – February 2017*
According to the Eurostat News Releases, industrial producer prices increased in February by 0.1% (+1.1% in January) in EU28, month-on-month. The highest increase in prices was observed in Greece (+1.3%). Prices rose in Slovakia and the Czech Republic (+0.4% both), Poland (+0.3%) and Germany (+0.2%) and decreased in Austria (-0.1%). Prices went down the most in Portugal (-1.5%).

Industrial producer prices were higher in February by 5.3% (+4.6% in January) in EU28, year-on-year. The largest increase in prices was recorded in Belgium (+14.8%). Prices rose in Poland (+6.8%), Slovakia (+3.2%), the Czech Republic (+3.1%) and Germany and Austria (+3.0% both). A decrease was observed only in Luxembourg (-3.1%).

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* Preliminary data

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