Producer price indices - November 2020

Agricultural producer prices and construction work prices both went up by 0.2%, month-on-month. Service producer prices in the business sphere grew by 0.1%. Industrial producer prices went down by 0.5%. From the year-on-year perspective, agricultural producer prices decreased by 2.2% and industrial producer prices fell by 0.1%. Construction work prices (+3.1%) and service producer prices in the business sphere (+2.0%) increased.

Month-on-month comparison

Agricultural producer prices were higher by 0.2% due to increasing prices of potatoes (+8.6%), eggs (+4.2%), milk (+2.6%), cereals (+0.8%), fruit (+0.5%) and oleaginous crops (+0.3%). On the decrease were prices of cattle for slaughter (-1.0%), pigs for slaughter (-1.3%) and poultry (-5.9%).

Prices of industrial producers decreased by 0.5%. Prices fell in ‘transport equipment’ (-1.7%), thereof ‘parts and accessories for motor vehicles’ (-2.2%). Lower were prices in ‘rubber and plastic products, other non-metallic mineral products’ (-0.8%). On the decrease were also prices in ‘coke, refined petroleum products’. Higher were prices in ‘textiles, clothes, leather and leather products’ (+0.7%) and ‘furniture, other manufactured products’ (+0.1%). Prices remained stable in ‘food products, beverages, tobacco’ in total, thereof prices rose in ‘dairy products’ (+0.5%) and fell in ‘preserved meat and meat products’ (-0.8%).

According to an estimate, construction work prices rose by 0.2% and prices of construction material and products input remained stable.

Service producer prices in the business sphere were higher by 0.1%. Prices for ‘employment services’ (+1.5%), ‘management consulting services’ (+0.5%), ‘computer programming, consultancy and related services’ (+0.4%), ‘land transport services’ and ‘legal and accounting services’ (+0.9% both) grew. Decreasing were prices of ‘warehousing and support services for transportation’ by 2.0%. Service producer prices in the business sphere, excluding advertising services rose by 0.1%.

Year-on-year comparison

Agricultural producer prices dropped by 2.2% (-4.3% in October). Prices in the crop production grew by 2.1%. On the increase were prices of fruit (+11.0%), oleaginous crops (+3.0%) and cereals (+2.9%). Prices of potatoes (-20.0%) and fresh vegetables (-1.1%) went down. Prices in animal products fell by 8.1%. Prices of pigs for slaughter (-23.4%), poultry (-9.9%), cattle for slaughter (-3.0%), milk (-2.8%) and eggs (-1.2%) were lower.

Prices of industrial producers went down by 0.1% (in October they went up by 0.3%). Prices fell particularly in ‘coke, refined petroleum products’. Prices were lower in ‘chemicals and chemical products’ (-6.9%), ‘mining and quarrying’ (-1.8%) and ‘wood, wood products, paper, printing’

(-1.4%). Prices rose in ‘electricity, gas, steam and air conditioning’ (+5.8%), thereof ‘electricity, transmission and distribution services’ (+6.3%). Prices increased in ‘transport equipment’ (+3.0%), thereof ‘parts and accessories for motor vehicles’ (+3.5%). Prices were higher also in ‘furniture, other manufactured products’ (+4.1%). Prices rose in ‘food products, beverages, tobacco’ (+0.3%).

Among the main industrial groupings, higher were particularly prices of ‘durable consumer goods’ (+2.9%) and ‘capital goods’ (+2.8%), lower were prices of ‘energy’ (-3.7%).

According to an estimate, construction work prices rose by 3.1% (like in October) and prices for construction material and products input increased by 1.2% (+1.0% in October).

Service producer prices in the business sphere were higher by 2.0% (+1.9% in October). Prices for ‘management consulting services’ (+8.6%), ‘warehousing and support services for transportation’ (+3.9%) and ‘security and investigation services’ (+3.8%) rose. On the increase were also prices of ‘real estate services’ (+3.3%), ‘architectural and engineering services’ (+2.4%), ‘computer programming, consultancy and related services’ and ‘employment services’ (+3.5% both). Lower were prices of ‘advertising and market research services’ (-2.5%) and ‘information services’ (-0.6%). Service producer prices in the business sphere, excluding advertising services, grew by 2.3% (+2.1% in October).

Industrial producer prices in the EU – October 2020 (preliminary data)

According to the Eurostat News Releases, industrial producer prices increased in October by 0.3% (like in September) in EU27, month-on-month. The highest increase was recorded in Belgium (+3.7%). Price were higher in the Czech Republic (+0.4%), Austria (+0.3%), Poland and Slovakia (+0.2% both) and Germany (+0.1%). The largest decrease was observed in Denmark (-2.4%).

Industrial producer prices decreased in October by 2.0% (in September they fell by 2.2%) in EU27, year-on-year. The largest decrease was observed in Cyprus (-8.0%). Prices were lower in Austria (-1.8%), Poland (-1.2%) and Germany (-0.7%) and were higher in Slovakia (+0.6%) and the Czech Republic (+0.3%). The highest increase was recorded in Ireland (+2.8%).