Producer price indices - May 2005
Industrial producer prices decreased month-on- month
Publication Date: 14. 06. 2005
Product Code: r-7001-05
Month-on-month comparison:
Agricultural producer prices grew by 0.8% in May; it was for the first time after six months. Increases were recorded for vegetables (+58.8%), oil plants (+7.6%) as well as potatoes and cattle for slaughter. On the other hand, lower prices were recorded for pigs for slaughter (-5.3%), eggs (-7.8%), cereals (-2.6%) as well as poultry, fruit and milk.
Industrial producer prices went down by 0.7% in May. It was the first decrease of the price level this year. Prices decreased mainly in ‘coke, refined petroleum products’ (-4.2%), ‘chemicals, chemical products and man-made fibres’ (-2.7%), ‘basic metals and fabricated metal products’ (-1.3%) and ‘food products, beverages and tobacco’ (-0.6%).
Prices of construction work and construction material inputs grew by 0.2% and 0.3%, respectively.
Market services prices in the business sphere increased by 0.4%, namely due to a growth of prices in ‘real estate, renting and business activities’ by 0.8% (higher prices of exhibition and fair service activities). On the other hand, prices in ‘financial intermediation, except insurance and pension funding’ fell (-0.6%).
Year-on-year comparison:
The decrease in agricultural producer prices was slightly lower (-15.4%) than in the previous month (-17.6%). Crop product prices were lower by 40.1% in total. The drop in prices of potatoes (-70.2%) and cereals (-35.9%, particularly wheat) as well as vegetables (-29.5%) and fruit (-28.1%) continued. Total growth of animal product prices further decelerated and the prices were higher by 1.0% (+4.1% in April). Prices of cattle for slaughter (+20.0%) and milk (+4.9%) grew. Prices of pigs for slaughter remained almost unchanged. Prices of eggs and poultry were down for the first time since September 2003 by 28.7% and 4.0%, respectively.
The growth of industrial producer prices slowed down from 5.6% in April to 4.0% in May. The moderation of growth rate takes place already for seven successive months. The growth of prices markedly slacked primarily in ‘coke, refined petroleum products’ from 30.0% in April to 17.2% in May. The deceleration of the price growth was significant also in ‘basic metals and fabricated metal products’ by 11.7% (17.4% in April) and ‘chemicals, chemical products and man-made fibres’ by 5.5%. The prices in ‘food products, beverages and tobacco’ got for the first time after twenty months under the price level of the corresponding period of the previous year (-0.8%).
Among the main industrial groupings, prices of ‘energy’ (+11.5%) and ‘intermediate goods’ (+3.1%) grew most.
Prices of construction work were higher by 2.7% (+3.6% in April) and prices of construction material inputs increased by 4.0% (+5.6% in April).
Market services prices in the business sphere grew by 1.5% (+1.3% in April) in total, responding to higher prices in ‘real estate, renting and business activities’ (increases in prices of advertising services, exhibition and fair service activities and computer-related service activities). Further, prices were higher in ‘financial intermediation, except insurance and pension funding’ and ‘national goods transport’.
Industrial producer prices in the EU – April 2005*
On average for the EU member states (EU25) by results of Eurostat, industrial producer prices were up by 0.4% m-o-m in April. The highest m-o-m increases among member states for which data are available were recorded in Luxembourg (+1.8%), Greece and Lithuania (both +1.0%). Prices in Germany and Slovakia were higher by 0.7% both. Prices were down only in Belgium (-0.2%).
In terms of y-o-y comparison, prices in the EU25 grew by 5.3% in total, most in the United Kingdom (+10.7%), Hungary (+10.1%) and Denmark (+9.4%). Prices in Germany were higher by 4.6%, in Slovakia by 3.5%.
* Preliminary data
Note
Contact: Hana Sykorova, phone (+420) 274 054 101, e-mail: sykorovah@gw.czso.cz
Miloslav Beranek, phone (+420) 274 052 665, e-mail: beranek@qw.czso.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 the 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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