Consumer price indices - inflation - February 2013

Automotive fuel prices rose again

11.03.2013
Code: r-7101-13
 




Consumer prices in February increased by 0.1% compared with January. This rise came primarily from price increases in 'transport' and 'recreation and culture'. The year-on-year growth of consumer prices decelerated to 1.7% in February (1.9% in January).

The month-on-month increase in consumer prices came primarily from the rise in prices of automotive fuel, which went up by 2.3% in February after a three-month drop at the end of the year 2012 and a moderate rise in January 2013. In 'recreation and culture', prices of package holidays rose (3.1%). In ‘furnishings, household equipment and routine maintenance of the house‘, the growth of prices came particularly from higher prices of tools and equipment for house and garden (2.1%). In 'miscellaneous goods and services', prices of insurance increased (2.4%).

A contrary effect on the price level owed mainly to a decrease in prices in 'food and non-alcoholic beverages', where prices of fruit dropped by 2.9%, rolls and baguettes by 2.8%, milk by 1.4%, yoghurts by 3.2%, chocolate and chocolate products by 5.3%. On the other hand, prices of vegetables increased by 2.9%, of which prices of potatoes by 11.2%. In 'alcoholic beverages, tobacco', prices of wine and beer decreased (-0.8% and -1.4%, respectively). Prices of clothing and footwear were lower (-1.0% and -1.9%, respectively).

Prices of goods in total remained the same as in January and prices of services rose (0.3%).

In terms of the year-on-year comparison, in February, the increase in consumer prices was 1.7% (0.2 percentage point down on January). A slowdown in the price growth was shown primarily in 'food and non-alcoholic beverages', where prices of bread rose by 0.2% (1.8% in January), fish by 8.8% (12.6% in January), eggs by 17.1% (29.2% in January) and vegetables by 13.7% (21.3% in January). Prices of rolls and baguettes fell by 4.0% (-1.2% in January). In 'restaurants and hotels', the rise in prices of meals provided by restaurants slowed down to 2.7% (3.2% in January).

A decisive upward effect on the y-o-y consumer price level came from prices in 'food and non-alcoholic beverages' despite a slowdown in their y-o-y growth and prices in 'housing, water, electricity, gas and other fuels'. In food, prices of flour went up by 20.1%, pork by 10.1%, fruit by 9.3%, potatoes by 44.1%. In housing, the net actual rentals went up by 2.9%, water supply by 6.7%, sewerage collection by 7.2%, prices of natural gas by 2.1%, electricity by 3.3%, heat and hot water by 4.5%.

The reduction of the y-o-y growth came from prices in 'communication' due to the decrease in prices of telephone and telefax services and prices of mobile phones (-4.6% and -14.7%, respectively). In 'clothing and footwear', prices of both clothing and footwear dropped (-3.1% and -2.8%, respectively). The fall in prices in 'furnishings, household equipment and routine maintenance of the house' was influenced by lower prices of household appliances (-4.8%) in particular. In 'transport', car prices were lower (-3.7%).

Prices of goods in total and prices of services rose (1.9% and 1.7%, respectively). The overall consumer price index excluding imputed rentals was 101.9%, year-on-year.

Inflation rate, i.e. the increase in the average consumer price index in the twelve months to February 2013 compared with the average CPI in the previous twelve months, stood at 3.0% in February.

According to preliminary data of Eurostat, the year-on-year increase in the average harmonized index of consumer prices (HICP) 1) in the EU27 member states was 2.1% in January, i.e. 0.2 percentage points down on December. The highest annual rate was observed in Romania (5.1%), while the y-o-y price growth in Greece was zero. In Germany, the price rise decelerated to 1.9% in January (2.0% in December). In Slovakia, the price increase slowed down and was 2.5% in January (3.4% in December). According to preliminary calculations, the HICP in the Czech Republic in February 2013 amounted to 0.1%, month-on-month, and was 1.8% (the same as in January), year-on-year. The MUICP (Monetary Union Index of Consumer Prices) flash estimate for the Eurozone in February 2013 was 1.8%, y-o-y, as Eurostat announced (more information on the Eurostat’s web pages: HICP).
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1) So far, imputed rentals have been excluded from the HICP.


Notes:
Responsible manager of the CZSO: Jiri Mrazek, Department Director, email: jiri.mrazek@czso.cz
Contact: Pavla Sediva, phone (+420) 274052138, email: pavla.sediva@czso.cz
Method of data collection: Direct field survey of prices, centrally surveyed prices and reporting
End of data collection: 20th day of the reference month/ End of data processing: 3rd day of the month that follows the reference month
Related publications: 7101-13 Consumer Price Indices – Basic Breakdown (periodicity: monthly) and 7103-13 Consumer Price Indices – Detailed Breakdown (periodicity: annually)
Related documents available on the CZSO website: 710344-13 Consumer Price Indices – Detailed Breakdown (periodicity: monthly) /csu/czso/2-ep-7

Next News Release: 9 April 2013

Not edited for language.



  •      aisc031113.doc

  • Annexes:
  • Table 1 Consumer prices (indices, inflation rate)
  • Table 2 Consumer prices (decomposition of increase – month-on-month, core inflation)
  • Table 3 Consumer prices (decomposition of increases – month-on-month, year-on-year)
  • Table 4 Consumer prices (social groups of households - indices, inflation rate)
  • Table 5 Consumer prices (analytical table, specific consumer price indices)
  • Graph 1 Consumer prices (year-on-year changes, changes on base year)
  • Graph 2 HICP – monthly data (2005 = 100)
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Published: 11.03.2013
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