Producer price indices - September 2021

Industrial producer prices (+0.7%), construction work prices (+0.6%), agricultural producer prices and service producer prices in the business sphere (+1.2% both) went up, month-on-month. From the year-on-year perspective, industrial producer prices (+9.9%), agricultural producer prices (+8.4%), construction work prices (+6.8%) and service producer prices in the business sphere (+1.6%) increased.

Month-on-month comparison
Agricultural producer prices were higher by 1.2%. Increasing were prices of cereals (+4.1%), eggs (+2.3%), cattle for slaughter (+1.2%) and milk (+0.8%). Decreasing were prices of fresh vegetables (-8.2%), pigs for slaughter (-6.5%), poultry (-2.7%) and oleaginous crops (-2.5%).

Prices of industrial producers increased by 0.7%. Price rose the most in ‘coke, refined petroleum products’ Prices were higher in ‘basic metals, fabricated metal products’ (+1.8%) and ‘chemicals and chemical products’ (+1.7%). Prices grew in ‘electricity, gas, steam and air conditioning’ (+0.4%), thereof ‘electricity, transmission and distribution services’ (+0.6%). On the increase were prices in ‘food products, beverages, tobacco’ (+0.1%), thereof ‘prepared animal feeds’ (+0.9%) and ‘dairy products’ (+0.5%). On the level of the branches, prices decreased only in ‘basic pharmaceutical products’ (-0.4%).

According to an estimate, construction work prices rose by 0.6% and prices of construction material and products input were higher by 0.9%.

Service producer prices in the business sphere went up by 1.2% due to increasing prices of ‘advertising and market research services’ (+15.8%). Prices of ‘employment services’ (+3.7%), ‘rental and leasing services’ (+1.9%), ‘information services’ (+1.8%), ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+0.9%) and ‘land transport services’ (+0.3%) increased. Prices of ‘management consulting services’ fell by 1.2%. Service producer prices in the business sphere, excluding advertising services grew by 0.3%, m-o-m.

Year-on-year comparison
Agricultural producer prices went up by 8.4% (in August they rose by 7.9%). Prices in the crop production grew by 11.2%. On the increase were prices of cereals (+18.8%), oleaginous crops (+11.0%) and fresh vegetables (+3.0%). Prices of potatoes (-1.2%) and fruit (-2.0%) went down. Prices in animal products soared by 4.1%. On the increase were prices of milk (+8.6%), cattle for slaughter (+6.8%), poultry (+2.5%) and eggs (+1.1%). Prices of pigs for slaughter dropped by 8.4%.

Prices of industrial producers were higher by 9.9% (in August they rose by 9.3%). Prices recorded the growth of that amount last time in March 1993, year-on year. Prices went up the most in ‘coke, refined petroleum products’. Prices increased in ‘basic metals, fabricated metal products’ (+28.1%) and ‘chemicals and chemical products’ (+39.1%). Price were higher in ‘wood, wood products, paper, printing’ (+24.7%), thereof ‘wood, sawn and planed’ (+77.7%). On the increase were also prices in ‘food products, beverages, tobacco’ (+2.0%), thereof ‘dairy products’ (+2.6%), ‘prepared animal feeds’ (+7.8%) and ‘vegetable and animal oils and fats’ (+19.0%). The only decrease was registered in ‘transport equipment’ (-2.1%), thereof ‘parts and accessories for motor vehicles’ (-3.6%).
Among the main industrial groupings, higher were primarily prices of ‘intermediate goods’ (+19.8%) and ‘energy’ (+11.6%).

According to an estimate, construction work prices were higher by 6.8% (in August they went up by 6.6%) and prices for construction material and products input increased by 16.5% (in August they grew by 16.0%).

Service producer prices in the business sphere went up by 1.6% (in August they soared by 1.2%). Prices for ‘employment services’ (+7.7%), ‘advertising and market research services’ (+3.3%) and ‘management consulting services’ (+3.1%) went up. Prices in ‘land transport services’ (+2.1%) and ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+1.0%) grew. Lower were prices of ‘information services’ (-2.4%), ‘financial services, except insurance and pension funding’ (-0.9%) and ‘telecommunications services’ (-0.8%). Service producer prices in the business sphere, excluding advertising services, were higher by 1.4% (in August they went up by 1.1%).

Industrial producer prices in the EU – August 2021 (preliminary data)
According to the Eurostat News Releases, industrial producer prices increased in August by 1.1% (in July they grew by 2.5%) in EU27, month-on-month. The highest increase was recorded in Bulgaria (+4.2%). Prices were higher in Germany (+1.5%), Czechia and Slovakia (+1.2% both) and Austria and Poland (+0.8% both). Decreases were observed only in Ireland (-4.1%) and Malta (-0.1%). 

Industrial producer prices increased in August by 13.5% (in July they rose by 12.5%) in EU27, year-on-year. The highest increase was recorded in Ireland (+54.8%). Prices went up in Poland (+11.5%), Germany (+10.9%), Austria (+10.2%), Czechia (+9.3%) and Slovakia (+7.0%).