Consumer price indices - inflation - November 2010

Year-on-year inflation rate unchanged for the third month in a row

09.12.2010
Code: r-7101-10
 




The total consumer price level in November increased compared with October by 0.2 %. This development came unambiguously from a price rise in 'food and non-alcoholic beverages'. In November the growth of consumer prices amounted to 2.0 %, y-o-y, (the same as in September and October).


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The month-on-month consumer price growth by 0.2 % owed primarily to prices of vegetables by 7.5 % and fruit by 4.8 %. Prices of vegetables cultivated for their fruit were higher by 20.6 % and in fruit, prices of stone fruit and berries by 34.2 %. Prices of bread and cereals increased by 3.1 %, of which prices of bread by 6.1 %, rolls and baguettes by 5.0 %, flour by 16.2 %. Prices of oils and fats were higher by 1.7 % and milk by 1.6 %. In 'alcoholic beverages, tobacco', prices of wine, beer and spirits rose (2.0 %, 1.0 % and 0.5 %, respectively).

A contrary effect on the price level came from a seasonal price drop in domestic recreational stays by 8.1 %, recreational stays abroad by 2.4 % and stays at spas by 5.2 %. Prices of drugs and fees paid by patients on prescription drugs fell by 1.2 %.

Prices of goods in total increased by 0.5 %, while prices of services went down by 0.2 %.

In terms of the year-on-year comparison, in November 2010, the increase in consumer prices was 2.0 %, i.e. the same as in October nevertheless the price development of the individual divisions of the consumer basket was different. The biggest acceleration in the price growth was shown in 'food and non-alcoholic beverages', in which the increase in prices of vegetables accelerated to 31.6 % (from 24.2 % in October) and oils and fats to 11.9 % (from 10.3 % in October). Prices of baker products went up by 1.7 % in November after a drop by 1.5 % in October. On the other hand, the price growth slowed down primarily in 'transport' due to prices of automotive fuel. Their increase slowed down to 10.8 % (from 14.5 % in October).

The highest upward effect on the consumer price level, which strengthened in November, came from prices in 'food and non-alcoholic beverages'. Prices of milk were higher by 10.5 %, butter by 20.6 %, fruit by 11.0 %, potatoes by 56.7 %, cocoa by 13.8 %. The second highest upward effect on the growth of consumer prices came from prices in 'housing, water, electricity, gas and other fuels'. The net actual rentals went up by 8.3 %, of which for dwellings with regulated rentals rose by 16.9 % and for dwellings with market rentals dropped by 2.3 %. Prices of natural gas were higher by 6.6 %, heat and hot water by 3.4 %, water supply by 3.8 % and sewerage collection by 4.9 %. In 'health', prices of drugs and fees paid by patients on prescription drugs rose by 10.5 %.

Prices of clothing and footwear were lower than in the previous year (-3.9 % and –2.0 %, respectively). In 'recreation and culture', prices of audio-visual, photographic and information processing equipment were lower by 8.2 % and in 'communications', prices of mobile phones by 12.2 %. In 'transport', prices of cars went down by 12.4 %. In 'housing, water, electricity, gas and other fuels', prices of electricity were lower by 2.6 %.

Prices of goods in total increased by 1.8 % and prices of services by 2.1 %. The overall consumer price index excluding imputed rentals was 102.0 %, year-on-year.

Average inflation rate, i.e. the increase in the average consumer price index in the twelve months to November 2010 compared with the average CPI in the previous twelve months, stood at 1.4 % in November, which is 0.2 percentage points up compared with October 2010.

According to preliminary data of Eurostat, the year-on-year increase in the average harmonized index of consumer prices (HICP) in the EU27 member states was 2.3 % in October 2010 (0.1 percentage point up on September). The highest annual rates were observed in Romania (7.9 %) and Greece (5.2 %). The year-on-year decrease continued in Ireland (-0.8 %). In Germany, the y-o-y growth amounted to 1.3 % (the same as in September). In Slovakia, the increase in the HICP slowed down to 1.0 % (from 1.1 % in September). According to preliminary calculations, the HICP in the Czech Republic in November rose by 0.2 %, month-on-month, and by 1.9 % (1.8 % in October), year-on-year. The MUICP (Monetary Union Index of Consumer Prices) flash estimate for the Eurozone in November 2010 was 1.9 %, y-o-y, as Eurostat announced (more information on the Eurostat's web pages: HICP) .

Starting from January 2010, the consumer price indices are calculated with revised weights. The weights are based on expenditure of households in the year 2008. Calculated indices are chained on all levels of the consumer basket with the base period 2005 = 100. Thus, a continuation of the existing index time series 2005 = 100, from which indices to other bases are derived (previous month = 100, corresponding period of last year = 100 and annual rolling average, i.e. average of index numbers over last 12 months to the average for previous 12 months) is ensured.



Note
Contact: Pavla Sediva, phone (+420) 274052138, e-mail: pavla.sediva@czso.cz
Data source: CZSO survey
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: 7101-10 Consumer Price Indices – Basic Breakdown (periodicity: monthly)
7103-10 Consumer Price Indices – Detailed Breakdown (periodicity: annually)
Documents available on the CZSO website: 7103-10 Consumer Price Indices – Detailed Breakdown (periodicity: monthly) ( /csu/czso/2-ep-7)
Text not edited for language.



  • aisc120910.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, effect of price changes of selected product groups)
  • Graph 1 Consumer prices (year-on-year changes, changes on base year)
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Published: 09.12.2010
The data are valid as of the release date of the publication.


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