Producer price indices - October 2004
Growth of industrial producer prices accelerated
Publication Date: 12. 11. 2004
Product Code: r-7001-04
Month-on-month comparison:
Agricultural producer prices grew by 1.9%. Prices of pigs for slaughter (+2.7%) and milk (+0.8%) increased. On the other hand, prices of potatoes (-8.2%), cattle for slaughter and cereals (both -1.5%), as well as prices of fruit, vegetables and eggs, decreased.
Industrial producer prices speeded up their rate of growth and rose by 1.1% m-o-m (compared to 0.3% in September). Mainly prices in ‘coal, lignite and peat’ (+18.3%) increased markedly. The growth of prices in ‘coke and refined petroleum products’ continued and became stronger (+4.7%, compared to 0.6% in September). Prices in ‘electrical energy, gas, steam and water’ were up by 1.6% (winter prices of electricity began to be charged in October). The rise of prices in ‘basic metals and fabricated metal products’ slowed down considerably and reached 0.8% (compared to 1.6% in September).
Prices of construction work and construction material inputs rose by 0.2% and 0.1%, respectively.
Prices of market services in the business sphere fell by 0.1%, reflecting a drop in prices in ‘real estate, renting and business activities’ (-0.5%, due to lower prices of exhibition and fair service activities). On the other hand, prices in ‘post and telecommunications’ grew by 1.2%.
Year-on-year comparison:
Agricultural producer prices were higher by 1.1% (+1.0% in September). Prices of crop products fell by 4.3%. Drop continued in prices of potatoes (-40.1%), vegetables (-30.3%) and fruit (-19.4%), also of oil seeds (-13.8%) and cereals (-9.1%). Prices of animal products grew by 4.2% due to price increases in cattle for slaughter (+13.8%) and milk (+4.9%), also pigs for slaughter (+4.6%) and poultry (+2.9%). Prices of eggs dropped by 12.6%.
Industrial producer prices were higher by 8.6% (compared to 8.0% in September), which was the highest increase since November 1993. Of a decisive influence on the total price level were markedly higher prices in ‘basic metals and fabricated metal products’ (+29.1%, compared to 28.3% in September) and high prices in ‘coke and refined petroleum products’ where the rise exceeded the 50% level and reached 55.1% (43.1% in September). Further, y-o-y growth of prices in ‘food, beverages and tobacco’ by 4.3% (4.9% in September) was significant.
Among the main industrial groupings, prices of ‘energy’ (+14.8%) and ‘intermediate goods’ (+12.8%) grew most y-o-y.
Prices of construction work and construction material inputs were higher by 4.3% (like in September) and 8.3% (+8.4% in September), respectively.
Prices of market services in the business sphere grew by 1.7% (+2.4% in September) in total, responding to higher prices of ‘real estate, renting and business activities’ (increases in prices of TV and radio commercials and computer-related service activities) and ‘insurance’ and ‘financial intermediation, except insurance and pension funding’.
Industrial producer prices in the EU – September 2004 *
On average for the EU member states (EU25), industrial producer prices rose by 0.4% m-o-m in September. The highest m-o-m increases were recorded in United Kingdom (+1.3%), Hungary (+0.9%), Slovenia and Netherlands (both 0.6%), Czech Republic (+0.3%). Prices went down only in Lithuania (-0.2%).
In terms of y-o-y comparison, prices in the EU25 grew by 4.1% in total, most in Hungary (+9.1%), Cyprus (+8.2%), Czech Republic (+8.0%) and United Kingdom (+6.1%), least in Finland (+0.3%) and Ireland (+0.9%). Prices below the level of September 2003 were observed in none of the member states.
* 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@gw.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 price indices of construction work. 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: 7001-04 Price Indices of Construction Work and Constructions
7003-04 Producer Price Indices – Basic Information
7004-04 Industrial Producer Price Indices
7005-04 Agricultural Producer Price Indices
7008-04 Price Indices of Market Services in the Business Sphere
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