ANALYSIS Czech Statistical Office, Na padesátém 81, 100 82 Praha 10
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In Q4 2008, agricultural producer prices were down by 14.3% in comparison to Q3 2008. Prices of crop products dropped by 21.2% and prices of animal products by 5.4%. Price decreases were recorded for potatoes (-34.2%), cereals (-24.4%), fruit (-20.6%), oil plants (-18.6%) and vegetables (-5.0%). In animal products, a downward price trend was observed for cattle for slaughter (-1.9%), pigs for slaughter (-3.0%), poultry (-6.4%) and milk (-8.5%). Only egg prices grew (+6.7%).

Year-on-year, agricultural producer prices fell by 18.6% in Q4 2008 (as against +7.3% in Q3 2008). Prices of crop products decreased by 25.4% and prices of animal products by 9.7%. The main impact on crop product prices was lower prices of cereals (-35.0%). Price decreases were recorded in fruit (-45.7%, mainly apples), vegetables (-23.4%), potatoes (-19.2%) and oil plants (-9.7%). Prices of animal products decreased due to lower prices of milk (-19.4%), eggs (-16.0%), poultry (-8.5%) and cattle for slaughter (-2.6%). Pig prices grew by 9.3%.

In Q4 2008 industrial producer prices were down by 2.8% in comparison to Q3 2008. The most rapid price decreases were observed for ‘coke, refined petroleum products‘ (-28.1%) and ‘chemicals, chemical products and man-made fibres’ (-4.7%). Prices of ‘coal and lignite; peat; crude petroleum’ decreased (-3.7%).

Year-on-year, industrial producer prices grew by 1.6% in Q4 2008 (+5.5% in Q3 2008). The highest price rises were observed in ‘coal and lignite; peat; crude petroleum’ (+14.5%), ‘electrical energy, gas, steam and water’ (+9.7%) and ‘basic metals and fabricated metal products’ (+7.7%). Price decreases were registered in ‘coke, refined petroleum products’ (-17.1%), ‘wood and products of wood and cork’ (-5.4%), ‘transport equipment’ (-3.9%) and ‘rubber and plastic products’ (-1.5%).

In Q4 2008 construction work prices grew by 0.4% in comparison to Q3 2008; construction material input prices dropped by 1.6%.
Year-on-year, construction work prices were up by 3.9% in Q4 2008 (+4.5% in Q3 2008); construction material input prices grew by 1.1% (+2.3% in Q3 2008).

In Q4 2008 market services prices rose by 1.4% in comparison to Q3 2008. Prices of ‘real estate, renting and business services’ grew by 2.3%.
Year-on-year, market services prices were up by 4.2% in total in Q4 2008. The overall price level was affected by prices of real estate, renting and business services, which grew by 5.8%. Within this CZ-CPA section, prices grew of ‘architectural, engineering and related technical consultancy services’ (+10.8%), ‘advertising services’ (+9.1%) and ‘computer and related services’ (+5.5%). Prices of freight transport and storage increased by 3.1%. Prices of ‘freight transportation services by road’ were up by 3.9%. Both prices of post and telecommunication services and prices of financial intermediation services, except insurance and pension funding services rose 1.9%. A price decrease was recorded in insurance and pension funding services (-1.7%).


Producer prices in the year 2008

Agricultural producer prices grew by 8.8% in total (+16.8% in the year 2007). Prices of crop products were up by 11.8% and prices of animal products by 5.2%.
Prices of cereals and oil plants grew (+16.4% and +33.3% respectively), prices of potatoes (-32.4%), vegetables (-15.7%) and fruit (-22.3%) decreased. Prices of poultry (+8.0%), milk (+6.5%), eggs (+4.9%) and pigs for slaughter (+4.4%) were on the increase. Prices of cattle for slaughter dropped (-2.2%).

Industrial producer prices were up by 4.5% on average in the year 2008, which was the highest growth in last four years. The main contributors to the increase were ‘electrical energy, gas, steam and water’ (+9.3%; prices of ‘production and distribution services of electricity’ up by 11.4%) and ‘food products, beverages and tobacco‘ (+6.8%) due to the high price increases in the first three quarters of the year (+11.0%, +8.9% and +7.4% respectively). In last two months of 2008 the prices were down in comparison to 2007, which resulted in a low price growth of 100.3% in Q4. Sharp increases were recorded for the prices of ‘grain mill products, starches and starch products’ (+20.9%), ‘prepared animal feeds’ (+19.9%) and ‘animal and vegetable oils and fats’ (+24.8%). The same trend as in ‘food products, beverages and tobacco‘ was observed in ‘coke, refined petroleum products’ (+14.2%), also high increases in the first three quarters of the year (+28.8%, +26.9% and +22.9% respectively). In last two months of 2008 there were steep decreases and the prices were down in comparison to 2007, which resulted in a price fall to 82.9% in Q4. Prices of ‘basic metals and fabricated metal products’ grew by 5.0% (mainly prices of ‘basic iron and steel and ferro-alloys’ up by 11.8%). The only decreases were recorded for prices of ‘textile and textile products’ (-0.6%), ‘wood and products of wood and cork’ (-3.8%), ‘rubber and plastic products’ (-2.3%) and transport equipment (-4.8%).

Construction work prices grew by 4.5% on average (+3.9% in the year 2007), which was the highest growth in last eight years. Construction material input prices were up by 2.2% (+5.2% in the year 2007).

Market services prices rose by 3.8% in total (+1.6% in 2007). Prices of real estate, renting and business services grew by 5.4% (prices of ‘advertising services’ and ‘architectural, engineering and related technical consultancy services’ up by 10.3% and 9.5% respectively). Prices of freight transport grew by 2.9%. Especially prices of ‘freight transportation services by road’ were up (+3.7%). Prices of post and telecommunication services rose by 1.9% in total due to higher prices of postal services (+25.5%). Prices of financial intermediation services, except insurance and pension funding services were up by 2.1% (due to increase in prices of financial leasing services). Prices of insurance and pension funding services decreased by 1.8%. Prices of ‘motor vehicle insurance services’ dropped by 2.5%.