Producer price indices - October 2024

“In a year-on-year comparison, prices in agriculture increased by 2.4%, when they recorded the growth in April 2023 last time. Prices in industry accelerated the increase to 0.8%. Construction work prices were higher by 2.3% year-on-year and service producer prices in the business sphere by 3.6%,” noted Vladimir Klimes, head of Industrial and International Trade Prices Statistics Unit of CZSO.

Agricultural producer prices increased by 6.9% m-o-m. Y-o-y, agricultural producer prices grew by 2.4% (-0.2% in September). In crop production, prices went up by 0.5%. Rising prices were recorded for oilseeds (+12.0%) and fruit (+35.1%), while prices of potatoes (-12.8%), cereals (-2.7%) and fresh vegetables (-0.2%) decreased. In animal production, prices went up by 7.1%. Prices increased for cattle for slaughter (+10.5%) and milk (+15.8%). Decrease occurred in prices of eggs (-8.9%), pigs for slaughter (-7.8%) and poultry (-0.2%).

Prices of industrial producers increased by 0.1% m-o-m. Higher prices were recorded in ‘coke, refined petroleum products’. Prices went up also in ‘rubber and plastic products’ (+0.7%), ‘beverages’ (+1.0%) and ‘fabricated metal products, except machinery and equipment’ (+0.3%). Prices rose in ‘food products’ (+0.1%), thereof particularly in ‘dairy products’ (+2.3%). Prices decreased in ‘electricity, gas, steam and air conditioning’ (-0.6%), ‘chemicals and chemical products’ (- 0.9%) and ‘printing and recording services’ (-1.9%). On the decrease were also prices in ‘coal and lignite’ (-0.5%). Prices of industrial producers rose by 0.8% y-o-y (+0.6% in September). Prices went up in ‘electricity, gas, steam and air conditioning’ (+4.7%), ‘motor vehicles, trailers and semi trailers’ (+2.6%) and ‘repair and installation services of machinery and equipment’ (+4.6%). Prices went up in ‘food products’ (+0.4%), particularly in ‘dairy products’ (+8.3%). Decreases were observed in ‘coke, refined petroleum products’. Lower were prices also in ‘chemical and chemical products’ (-3.1%), ‘fabricated metal products, except machinery and equipment’ (-1.5%) and ‘coal and lignite’ (-4.3%). Among the main industrial groupings, prices of ‘capital goods’ (+2.8%), ‘energy’ (+0.3%) and ‘non-durable consumer goods’ (+1.9%) went up y-o-y. Prices of ‘intermediate goods’ (-0.6%) fell. Prices of industrial producers excluding energy were higher by 1.1% (+0.9% in September).

Construction work prices, as estimated, and prices of materials and products used in construction equally increased by 0.3% m-o-m. According to the estimate, construction work prices rose by 2.3% y‑o‑y (+2.1% in September after updating). Prices of materials and products used in the construction were higher by 0.8% y-o-y (remained unchanged in September).

Service producer prices in the business sphere increased by 0.5% m-o-m. Prices went up for ‘advertising and market research services’ (+5.6%), ‘programming and broadcasting services’ (+5.5%) and ‘employment services’ (+1.8%). Falling were prices of ‘motion picture, video and television programme production services, sound recording and music publishing’ (-4.8%). Service producer prices in the business sphere, excluding advertising services grew by 0.2%. Service producer prices in the business sphere grew by 3.6% y-o‑y (+3.4% in September). Prices rose for ‘employment services’ (+12.1%), ‘advertising and market research services’ (+11.9%), ‘real estate services’ (+7.5%) and ‘legal and accounting services’ (+3.0%). Service producer prices in the business sphere, excluding advertising services, increased by 2.9% (as in September).

Industrial producer prices in the EU – September 2024 (preliminary data)

According to the Eurostat News Releases, industrial producer prices decreased in September by 0.6% in EU27 (in August they went up by 0.4%), m-o-m. The largest decreases were recorded in Estonia (-3.6%), Spain (-2.4%) and Romania (-2.2%). Prices were lower in Germany and Poland (-0.5% both), Czechia (-0.2%) and Austria (-0.1%). The highest increases were observed in Ireland (+4.8%), Finland (+1.0%), Greece (+0.7%) and Slovakia (+0.4%). Industrial producer prices fell in September by 3.3% (in August they went down by 2.1%) in EU27, y-o-y. The largest decreases were recorded in Slovakia (-18.5%), Luxembourg (-9.9%) and Latvia (-7.4%). Prices were lower in Poland (-5.2%), Austria (-5.0%) and Germany (-1.7%). The highest increases were observed in Ireland (+1.5%), Portugal (+1.0%), Czechia and Malta (+0.6% both).