Producer price indices - April 2020

Industrial producer prices fell y-o-y

20.05.2020
Code: 011047-20
 

Agricultural producer prices (+0.6%) and construction work prices (+0.3%) both went up. Industrial producer prices (-0.5%) and service producer prices in the business sphere (-0.1%) both went down, month-on-month (m-o-m). From the year-on-year perspective, agricultural producer prices decreased by 2.5% and industrial producer prices fell by 0.8%. Construction work prices (+4.1%) and service producer prices in the business sphere (+2.3%) increased.
 

Month-on-month comparison

Agricultural producer prices grew by 0.6%. Prices of cereals (+2.0%) and vegetables (+26.2%) were higher. On the decrease were prices of potatoes (-7.9%), poultry (-2.2%), fruit (-1.1%), milk (-0.6%), pigs for slaughter (-0.3%), cattle for slaughter and eggs (-0.7% both).

Prices of industrial producers were lower by 0.5%. Prices went down considerably in ‘coke, refined petroleum products’. Lower were prices in ‘chemicals and chemical products’ (-9.9%), thereof ‘basic chemicals, fertilisers and nitrogen compounds’ (-12.8%). Prices rose in ‘transport equipment’ (+2.1%) and ‘basic metals, fabricated metal products’ (+1.4%). Prices grew in ‘food products, beverages, tobacco’ (+1.0%), thereof ‘beverages’ (+0.8%) and ‘preserved meat and meat products’ (+0.5%).

According to an estimate, construction work prices were higher by 0.3% and prices of construction material and products input remained stable.

Service producer prices in the business sphere fell by 0.1%. Prices for ‘warehousing and support services for transportation’ (-1.6%) and ‘information services’ (-1.5%) decreased. On the decrease were also prices of ‘advertising and market research services’ and ‘financial services, except insurance and pension funding’ (-0.3% both). Prices of ‘management consulting services’ (+1.7%), ‘legal and accounting services’ (+0.4%) and ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+0.3%) went up. Service producer prices in the business sphere, excluding advertising services went down by 0.1%.
 

Year-on-year comparison

Agricultural producer prices fell by 2.5% (-4.2% in March). Prices in the crop production dropped by 7.2%. On the decrease were prices of vegetables (-18.3%), potatoes (-11.4%) cereals (-9.6%) and oleaginous crops (-2.8%). Prices of fruit went up by 66.0%. Prices of animal products rose by 3.1%. Prices of pigs for slaughter (+28.3%) and eggs (+4.8%) went up. Prices for milk (-2.4%), poultry (-3.2%) and cattle for slaughter (-3.5%) went down. 

Prices of industrial producers were lower, for the first time since February 2018, by 0.8% (in March they increased by 0.4%). Prices fell primarily in ‘coke, refined petroleum products’. Lower were prices in ‘chemicals and chemical products’ (-12.7%), ‘basic metals, fabricated metal products’ (-2.0%) and ‘mining and quarrying’ (-3.7%). Prices increased in ‘electricity, gas, steam and air conditioning’ (+8.6%), thereof ‘electricity, transmission and distribution services’ (+10.1%). Prices grew in ‘food products, beverages, tobacco’ (+4.5%), thereof ‘preserved meat and meat products’ (+11.6%). Prices increased in ‘furniture, other manufactured products’ (+5.0%) and ‘transport equipment’ (+2.9%).

Among the main industrial groupings, prices of ‘energy’ (-6.0%) were lower particularly.

According to an estimate, construction work prices rose by 4.1% (+4.2% in March after specification) and prices for construction material and products input dropped by 0.3% (+0.5% in March).

Service producer prices in the business sphere were higher by 2.3% (+2.8% in March). Prices for ‘employment services’ (+9.5%), ‘warehousing and support services for transportation’ (+5.9%), ‘security and investigation services’ (+4.0%) and ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+3.3%) rose. On the increase were also prices of ‘computer programming, consultancy and related services’ and ‘real estate services’ (+3.1% both). Service producer prices in the business sphere, excluding advertising services, grew by 2.4% (+2.7% in March).
 

Industrial producer prices in the EU – March 2020 (preliminary data)

According to the Eurostat News Releases, industrial producer prices decreased in March by 1.4% (-0.7% in February) in EU27, month-on-month. The largest decrease was observed in Greece (-5.3%). Price were lower in Austria (-1.0%), Germany and Poland (-0.8% both), the Czech Republic (-0.5%) and Slovakia (-0.4%). The highest increase was recorded in Cyprus (+0.5%).

Industrial producer prices decreased in March by 2.5% (-1.1% in February) in EU27, year-on-year. The largest decrease was observed in Lithuania (-6.3%). Prices fell in Austria (-2.0%), Germany and Poland (-0.5% both). Prices rose in Slovakia (+2.2%) and the Czech Republic (+0.4%). The highest increase was recorded in Cyprus (+4.4%).
 

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 – 20 Price Indices of Constructions Works, Price Indices of Constructions, and Indices of Construction Costs
011044 – 20 Industrial Producer Price Indices
011045 – 20 Agricultural Producer Price Indices
011046 – 20 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 June 2020

 

  •      aipc052020.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 the growth - month-on-month, year-on-year)
  • Chart 1 Industrial Producer Price Indices (year-on-year changes, changes on base year 2015)
  • Chart 2 Construction Output Price Indices (year-on-year changes, changes on base year 2015)
  • Chart 3 Price Indices of Market Services for Businesses (year-on-year changes, changes on base year 2015)
  • Chart 4 Agricultural Producer Price Indices (year-on-year changes, changes on base year 2015)
  • Chart 5 Industrial Producer Price Indices – International Comparison (changes on base year 2015)
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Published: 20.05.2020
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