Producer price indices - July 2021

The growth rate of industrial producer prices accelerated

16.08.2021
Code: 011047-21
 

Industrial producer prices (+1.6%) and construction work prices (+1.0%) both went up, month-on-month. Agricultural producer prices (-1.8%) and service producer prices in the business sphere (-0.8%) went down. From the year-on-year perspective, agricultural producer prices (+5.2%), industrial producer prices (+7.8%), construction work prices (+5.6%) and service producer prices in the business sphere (+1.0%) increased.
 

Month-on-month comparison

Agricultural producer prices were lower by 1.8%. Decreasing were prices of potatoes (-28.9%), eggs (-6.8%), oleaginous crops (-5.3%) and poultry (-2.6%). Increasing were prices of cattle for slaughter (+1.5%), cereals (+0.6%) and milk (+0.2%).

Prices of industrial producers increased by 1.6%. It was the fastest growth rate since January 2008. Prices were higher in ‘wood, wood products, paper, printing’ (+7.8%) and ‘basic metals, fabricated metal products’ (+4.3%). Prices rose quickly also in ‘coke, refined petroleum products’. On the increase were prices in ‘food products, beverages, tobacco’ (+0.3%), thereof ‘other food products’ (+1.4%), ‘prepared animal feeds’ (+1.0%) and ‘dairy products’ (+0.6%).

According to an estimate, construction work prices rose by 1.0% and prices of construction material and products input were higher by 2.9%.

Service producer prices in the business sphere fell by 0.8%. On the decrease were prices of ‘advertising and market research services’ (-16.0%). Prices of ‘land transport services’ decreased by 0.6%. Prices of ‘management consulting services’ (+3.3%) and ‘real estate services’ (+0.6%) grew. Prices of ‘warehousing and support services for transportation’, ‘publishing services’ and ‘financial services, except insurance and pension funding’ all rose by 0.5%. Service producer prices in the business sphere, excluding advertising services were higher by 0.2%, m-o-m.
 

Year-on-year comparison

Agricultural producer prices went up by 5.2% (in June they rose by 5.8%). Prices in the crop production grew by 6.8%. On the increase were prices of cereals (+14.2%) and oleaginous crops (+8.2%). Prices of vegetables (-7.1%), potatoes (-10.2%) and fruit (-19.5%) went down. Prices in animal products soared by 3.1%. On the increase were prices of milk (+7.3%), cattle for slaughter (+5.1%) and poultry (+1.5%). Prices of eggs (-3.5%) and pigs for slaughter (-6.6%) dropped.

Prices of industrial producers grew by 7.8% (in June they rose by 6.1%), prices rose more last in November 2004. Prices went up the most in ‘coke, refined petroleum products’. Prices increased significantly in ‘basic metals, fabricated metal products’ (+20.0%) and ‘chemicals and chemical products’ (+37.7%). Price were higher in ‘wood, wood products, paper, printing’ (+17.9%). On the increase were prices in ‘food products, beverages, tobacco’ (+1.2%), thereof ‘vegetable and animal oils and fats’ (+16.1%) and ‘dairy products’ (+3.7%). The only decrease was observed in ‘transport equipment’ (-1.1%), thereof ‘parts and accessories for motor vehicles’ (-2.4%).

Among the main industrial groupings, higher were primarily prices of ‘intermediate goods’ (+15.5%) and ‘energy’ (+9.1%).

According to an estimate, construction work prices were higher by 5.6% (in June they went up by 4.9% after specification) and prices for construction material and products input increased by 12.8% (+9.5% in June).

Service producer prices in the business sphere were higher by 1.0% (in June they grew by 0.9%). Prices for ‘employment services’ (+7.7%) and ‘management consulting services’ (+6.0%) went up. Prices in ‘warehousing and support services for transportation’, ‘legal and accounting services’ and ‘publishing services’ all grew by 2.0%. Lower were prices of ‘information services’ (-5.5%), ‘architectural and engineering services’ (-1.7%) and ‘advertising and market research services’ (-0.5%). Service producer prices in the business sphere, excluding advertising services, went up by 1.1% (+1.2% in June).
 

Industrial producer prices in the EU – June 2021 (preliminary data)

According to the Eurostat News Releases, industrial producer prices increased in June by 1.4% (like in May) in EU27, month-on-month. The highest increase was recorded in Denmark (+5.1%). Prices were higher in Germany, Austria and Poland (+1.1% all), Czechia (+0.8%) and Slovakia (+0.2%).The only decrease was observed in Ireland (-0.3%).

Industrial producer prices increased in June by 10.3% (in May they rose by 9.6%) in EU27, year-on-year. The highest increases was registered in Ireland (+42.5%). Prices went up in Poland (+8.9%), Germany and Austria (+7.6% both), Czechia (+6.1%) and Slovakia (+3.5%).

 

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Notes:

Responsible head at the CZSO: Jiří Mrázek, Director of Prices Statistics Department, phone (+420) 274 052 533, e-mail: jiri.mrazek@czso.cz
Contact person: Jiří Šulc, Head of Agricultural, Construction, and Services Prices Statistics Unit, phone (+420) 274 052 148, e-mail: jiri.sulc@czso.cz
Miloslav Beránek, Industrial and International Trade Prices Statistics Unit, phone (+420) 274 052 665, e-mail: miloslav.beranek@czso.cz
Method of data acquisition: CZSO direct surveys
End of data collection / End of data processing:
Agricultural producer price indices: 26th calendar day of reference month / 8th calendar day of the following month
Industrial producer price indices: 20th calendar day of reference month / 9th calendar day of the following month
Service producer prices in the business sphere: 20th calendar day of reference month / 9th calendar day of the following month
Except for the construction work price indices, the published figures are final data. Estimates of the construction work price indices are carried out on the 9th calendar day of the following month. Then, construction work price indices are made more precise using results of the finished quarterly survey and the finalised data are released on the 46th calendar day of the following quarter.
Related publications:
011041 – 21 Price Indices of Constructions Works, Price Indices of Constructions, and Indices of Construction Costs
011044 – 21 Industrial Producer Price Indices
011045 – 21 Agricultural Producer Price Indices
011046 – 21 Service Producer Prices in the Business Sphere
Following outcomes: https://www.czso.cz/csu/czso/producer-prices-publications
Next News Release will be published on: 16 September 2021

 

  •      aipc081621.docx
  • Annexes:
  • Table 1 Producer Price Indices
  • Table 2 Industrial Producer Price Index by Main Industrial Groupings
  • Table 3 Industrial Producer Price Index (breakdown of month-on-month and year-on-year increments)
  • Chart 1 Industrial Producer Price Indices (year-on-year changes and changes to the base year 2015)
  • Chart 2 Construction Work Price Indices (year-on-year changes and changes to the base year 2015)
  • Chart 3 Service Producer Price Indices in the Business Sphere (year-on-year changes and changes to the base year 2015)
  • Chart 4 Agricultural Producer Price Indices (year-on-year changes and changes to the base year 2015)
  • Chart 5 Industrial Producer Price Indices, International Comparison (changes to the base year 2015)
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Published: 16.08.2021
The data are valid as of the release date of the publication.


Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz