Producer price indices - November 2008

In November 2008, month-on-month, agricultural and industrial producer prices fell by 4.2% and 1.9%, respectively. Construction work prices grew by 0.1% and market services prices were unchanged.
In comparison to November 2007, agricultural producer prices were down by 19.5%. Prices of industrial producers, construction work and market services were up by 1.2%, 3.9% and 4.3%, respectively.
Month-on-month comparison:

Agricultural producer prices were down by 4.2% in total. Prices of crop products fell by 5.4% due to lower prices of oil plants (-3.1%), vegetables (-6.1%), cereals (-7.1%), potatoes (-11.4%) and fruit (-14.7%). Prices of animal products decreased by 2.8%; prices of pigs for slaughter (-4.6%), milk (-3.5%) and poultry (-1.5%) fell. Prices of eggs grew (+3.5%).

Industrial producer prices went down by 1.9% (-1.2% in October). The most marked price decreases were observed in ‘coke, refined petroleum products’ (-18.6%; the largest fall since 1990), ‘basic metals, fabricated metal products’ (-2.4%) and ‘chemicals, chemical products and man-made fibres’ (-6.1%). Prices of ‘food products, beverages and tobacco’ fell by 0.8%. Price increases were registered only in ‘machinery and equipment n.e.c.’ (+0.4%), ‘metal ores and other mining and quarrying products’ (+0.3%), ‘rubber and plastic products’ (+0.2%) and ‘other non-metallic mineral products’ (+0.1%).

Construction work prices rose by 0.1%, construction material input prices fell by 1.1%.

Market services prices in the business sphere remained unchanged. Prices of ‘real estate, renting and business services’ and ‘financial intermediation, except insurance and pension funding’ (financial leasing services) decreased by 0.2% and 0.9%, respectively.


Year-on-year comparison:

Agricultural producer prices dropped by 19.5% (-13.2% in October). Prices of crop products fell by 26.6%, mainly due to price decreases of cereals by 36.0% and fruit by 53.0%. Prices of vegetables (-23.0%), potatoes (-20.3%) and oil plants (-10.8%) decreased. Prices of animal products dropped by 10.2%; on the decrease were milk (-20.3%), eggs (-18.3%), poultry (-8.9%) and cattle for slaughter (-2.5%). Prices of pigs for slaughter grew (+11.0%).

Industrial producer prices rose by 1.2% (+3.9% in October). This is the lowest price increase since April 2006. The overall price level was influenced most significantly by the growth of prices of ‘electricity, gas, steam and hot water’ (+9.6%), ‘basic metals, fabricated metal products’ (+7.5%) and ‘coal, peat, lignite, crude oil’ (+14.8%). Price decreases were recorded predominantly in ‘coke, refined petroleum products’ (-20.6%), ‘transport equipment’ (-4.4%), and ‘wood and products of wood and cork’ (-5.7%). Prices of ‘food products, beverages and tobacco’ went down by 0.3%, primarily prices of ‘dairy products and ice cream’ (-13.1%; the largest fall since 1991).
Among the main industrial groupings, the highest year-on-year increases were recorded for prices of ‘energy’ (+1.7%) and ‘intermediate goods’ (+1.4%).

Construction work prices were up by 3.9% (+4.1 in October); construction material input prices grew by 1.1% (+1.7% in October).

Market services prices in the business sphere rose by 4.3% in total (+4.2% in October). Prices of ‘real estate, renting and business services’ grew by 6.1% (advertising services prices and architectural and engineering activities prices were up by 10.0% and 11.0%, respectively). Prices of ‘freight transport and storage services’ rose by 3.4%.


Industrial producer prices in the EU – October 2008*

According to the Eurostat news release, industrial producer prices decreased in the EU27 by 1.4% in October (-0.4% in September) month-on-month. Among the Member States for which data are available, the largest falls were recorded in Denmark (-5.1%), the United Kingdom (-4.2%) and Greece (-2.8%). Prices in the Czech Republic went down by 1.2% and remained stable in Germany. Prices increased only in Hungary (+1.2%), Slovakia (+0.9%), Ireland (+0.4%) and Cyprus (+0.1%).

Year-on-year, EU27 producer prices were higher by 7.3% in October (+9.9% in September). The highest increases were observed in Luxembourg (+21.1%), Romania (+15.0%) and Lithuania (+14.7%), the lowest ones in the Czech Republic (+3.9%), France (+4.3%) and Slovenia (+4.8%). Prices in Slovakia grew by 7.5% and in Germany by 7.8%.

* Preliminary data

Notes
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
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 data are finalised. The 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: 7001-08 Price Indices of Construction Work, Types of Constructions and Costs of Construction Output
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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