Producer price indices - September 2004
The growth of industrial producer prices slowed down
Publication Date: 14. 10. 2004
Product Code: r-7001-04
Month-on-month comparison:
Agricultural producer prices fell by 2.0%. Marked price decreases were reported for fruit in particular (-28.3%), also for oil seeds (-8.1%), vegetables (-7.1%) and cereals (-4.4%); egg prices dropped slightly too. On the other hand, rising again after five months were prices of potatoes (+13.1%) and cattle for slaughter (+2.9%). Increases were also recorded for pigs for slaughter, poultry and milk.
Industrial producer prices grew by 0.3%, which represents the lowest rise in the year 2004. Of the main effect were continuing price increases in ‘basic metals and fabricated metal products’ by 1.6% (+3.4% in August) and ‘coke, refined petroleum products’ by 0.6% (+4.7% in August). Also prices of ‘other manufactured goods n.e.c.’ by 2.9% (+5.6% in August) grew. On the other hand, prices of ‘food products, beverages and tobacco’ went down by 0.3% (-0.1% in August).
Prices of construction work and construction material inputs rose by 0.1% and 0.4%, respectively.
After three months, prices of market services in the business sphere grew again (+0.4%). While prices of ‘real estate, renting and business activities’ grew (+0.6%, higher prices of TV and radio commercials), prices in ‘post and telecommunications’ and ‘national goods transport’ slightly fell.
Year-on-year comparison:
Agricultural producer prices were higher by 1.0% (+5.9% in August), i.e. their y-o-y growth kept on slowing down. Prices of crop products fell by 5.9% (for the first time since July 2003). Drop continued in prices of oil seeds (-11.1%), potatoes (-29.5%) and vegetables (-21.1%), also cereals (-3.2%, as against +9.9% in August) and fruit (-6.5%, as against +8.8% in August). Prices of animal products grew by 5.1% due to increases in prices of cattle for slaughter (+14.4%), poultry (+5.7%), pigs for slaughter (+4.8%) and milk (+4.4%). Drop in egg prices, which started in August, continued (-4.9%, as against -0.6% in August).
Industrial producer prices were higher by 8.0% in September (+8.1% in August). Of a decisive influence on the overall price level were considerably higher prices in ‘basic metals and fabricated metal products’ (+28.3%, compared to +26.6% in August) and ‘coke, refined petroleum products’ (+43.1%, compared to +46.5% in August). Also significant was a price increase in ‘food products, beverages and tobacco’ (+4.9%, compared to +6.0% in August).
Among the main industrial groupings, prices of ‘intermediate goods’ (+13.2%) and ‘energy’ (+11.5%) grew most y-o-y.
Prices of construction work and construction material inputs were higher by 4.5% and 8.4%, respectively.
Prices of market services in the business sphere grew by 2.4% (the same as in August) in total, responding to higher prices of ‘real estate, renting and business activities’ (prices were up of TV and radio commercials and exhibition and fair service activities) and ‘insurance’ and ‘financial intermediation, except insurance and pension funding’. Conversely, prices in ‘post and telecommunications’ fell.
Industrial producer prices in the EU – August 2004*
On average for the EU member states (EU25), industrial producer prices rose by 0.5% m-o-m . The highest m-o-m increases among member states, for which the data are available, were recorded in Hungary (+1.3%), United Kingdom (+1.1%) and Czech Republic (+0.9%). Lower prices were observed only in Ireland (-0.1%). No change occurred in Cyprus.
In terms of y-o-y comparison, prices in the EU25 increased by 3.6% in total; most in Hungary (+8,9%), Czech Republic (+8.1%), Cyprus (+6.9%) and Belgium (+6.7%), least in Ireland (+1.0%). Only Finland saw a decrease (-0.4%).
* Preliminary data
Analysis - Producer price indices in the 3rd quarter of 2004
Note
Contact: Hana Sykorova, phone (+420) 274 054 101, e-mail: hana.sykorova@csu.gov.cz
Miloslav Beranek, phone (+420) 274 052 665, e-mail: miloslav.beranek@csu.gov.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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