Producer price indices - October 2008

In October 2008, month-on-month, agricultural and industrial producer prices fell by 3.9% and 1.2%, respectively. Prices of construction work and market services grew by 0.2% and 0.7%, respectively.
In comparison to October 2007, agricultural producer prices were down by 13.2%. Prices of industrial producers, construction work and market services were up by 3.9%, 4.1% and 4.2%, respectively.
Month-on-month comparison:

Agricultural producer prices were down by 3.9% in total. Prices of crop products fell by 6.2% due to lower prices of cereals (-7.7%), oil plants (-6.7%), potatoes (-5.7%) and fruit (-13.6). Prices of vegetables rose by 0.5%. Prices of animal products decreased by 1.3%; prices of milk (-2.1%), poultry (-2.7%) and cattle for slaughter (-0.3%) fell.

Industrial producer prices fell by 1.2% (the largest m-o-m decrease since 1990). Prices went down the most significantly in ‘coke, refined petroleum products’ (-9.7%), ‘basic metals, fabricated metal products’ (-1.5%) and ‘food products, beverages and tobacco (-1.1%; particularly ‘prepared animal feeds’ -6.5%). Prices went up primarily in ‘electricity, gas, steam and hot water’ (+0.8%), ‘transport equipment’ (+0.5%) and ‘machinery and equipment’ (+0.3%).

Construction work prices rose by 0.2%, construction material input prices fell by 0.7%.

Market services prices in the business sphere increased by 0.7% due to a 1.2% price growth in ‘real estate, renting and business services’ (the highest price increase in TV and radio commercials +9.7%).


Year-on-year comparison:

Agricultural producer prices decreased considerably, namely by 13.2% (-4.4% in September). Prices of crop products fell by 20.2%, mainly due to price fall in cereals by 28.6% (-12.6% in September) and potatoes by 16.3%. The prices of fruit (-43.3%) and vegetables (-24.0%) also decreased. The prices of oil plants were down by 3.5%. Prices of animal products dropped by 4.0%; on the decrease were eggs (-10.7%), milk (-8.6%), poultry (-6.0%) and cattle for slaughter (-2.5%). A price increase was recorded for pigs for slaughter (+6.8%).

Industrial producer prices rose by 3.9% (+5.5% in September). The overall price level was influenced the most markedly by prices of ‘electricity, gas, steam and hot water’ (+9.6%), ‘basic metals, fabricated metal products’ (+9.1%) and ‘food products, beverages and tobacco’ (+3.5%). Prices went down y-o-y primarily in ‘transport equipment’ (-5.2%), ‘wood and products of wood and cork’ (-5.7%) and in ‘rubber and plastic products’ (-1.8%).
Among the main industrial groupings, the biggest increases were recorded for prices of ‘energy’ (+9.4%) and ‘intermediate goods’ (+3.3%).

Construction work prices were up by 4.1% (+4.3 in September); construction material input prices grew by 1.7% (+2.7% in September).

Market services prices in the business sphere rose by 4.2% in total (+4.0% in September). Prices of ‘real estate, renting and business services’ increased by 6.0% (prices of advertising services and prices of architectural and engineering activities were up by 10.0% and 10.8%, respectively). Prices of ‘freight transport and storage services’ rose by 3.6%.


Industrial producer prices in the EU – September 2008*

According to the Eurostat News Release, industrial producer prices decreased in EU27 by 0.2% in September (-0.8% in August) month-on-month. Among the Member States for which data are available, the largest falls were recorded in Bulgaria (-1.0%), Romania (-0.9%) and Ireland, Greece and Spain (all -0.7%). Prices increased the most in Cyprus (+1.9%), Denmark (+1.2%) and Slovakia (+0.6%). Germany reported a 0.3% price increase.

Year-on-year, prices in the EU27 grew by 10.1% in September (+10.9% in August). The highest increases were observed in Luxembourg (+25.6%), Denmark (+19.9%) and the United Kingdom (+19.4%), and the lowest in the Czech Republic and Ireland (both +5.5%) and Slovenia (+5.7%). Prices in Slovakia were up by 6.8% and in Germany by 8.3%. No decreases were recorded in the EU countries.

* Preliminary data

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Note
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
Price indices of market services: 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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