Producer price indices - December 2020

Industrial producer prices almost stagnated y-o-y in 2020

19.01.2021
Code: 011047-20
 

Agricultural producer prices and construction work prices both remained stable, month-on-month. Industrial producer prices went up by 0.2%. Service producer prices in the business sphere went down by 0.1%. From the year-on-year perspective, agricultural producer prices decreased by 2.7% and industrial producer prices remained stable. Construction work prices (+3.0%) and service producer prices in the business sphere (+2.1%) both increased.

In comparison with the year 2019, on average for the whole year 2020 prices of agricultural producers fell by 3.4%. Prices of industrial producers (+0.1%), construction work prices (+3.7%) and service producer prices in the business sphere (+2.1%) were all higher.

Month-on-month comparison
Agricultural producer prices remained stable. Increasing were prices of eggs (+2.8%), vegetables and poultry (+3.8% both) and milk and cereals (+2.3% both). On the decrease were prices of pigs for slaughter (-4.0%), cattle for slaughter (-2.2%), fruit (-0.9%) and potatoes
(-0.8%).

Prices of industrial producers increased by 0.2%. Prices rose in ‘coke, refined petroleum products’. Prices were higher in ‘chemicals and chemical products’ (+1.5%) and ‘basic metals, fabricated metal products’ (+0.5%). On the decrease were prices in ‘food products, beverages, tobacco’ (-0.5%), thereof ‘preserved meat and meat products’ (-0.8%). Prices fell in ‘transport equipment’ (-0.4%), thereof ‘parts and accessories for motor vehicles’ (-0.5%). Prices were lower in ‘electricity, gas, steam and air conditioning’ (-0.1%), thereof ‘electricity, transmission and distribution services’ (-0.2%).

According to an estimate, construction work prices remained stable and prices of construction material and products input were higher by 0.4%.

Service producer prices in the business sphere were lower by 0.1%. Prices for ‘advertising and market research services’ (-3.4%), ‘employment services’ (-3.1%) and ‘legal and accounting services’ (-0.3%) fell. On the increase were prices of ‘computer programming, consultancy and related services’ (+1.2%) and ‘land transport services’ (+0.4%). Prices of ‘management consulting services’ and ‘warehousing and support services for transportation’ both went up by 1.0%. Service producer prices in the business sphere, excluding advertising services rose by 0.2%.

Year-on-year comparison
Agricultural producer prices dropped by 2.7% (-2.2% in November). Prices in the crop production grew by 2.3%. On the increase were prices of vegetables (+7.9%), cereals (+5.7%), oleaginous crops (+1.4%) and fruit (+1.2%). Prices of potatoes decreased by 29.1%. Prices in animal products fell by 8.8%. Prices of pigs for slaughter (-29.9%), cattle for slaughter (-4.7%), poultry (-3.9%), eggs (-3.2%) and milk (-1.9%) were lower.

Prices of industrial producers remained stable in total (in November they went down by 0.1%). Prices fell primarily in ‘coke, refined petroleum products’. Prices were lower in ‘chemicals and chemical products’ (-6.3%) and ‘mining and quarrying’ (-2.2%). On the decrease were also prices in ‘food products, beverages, tobacco’ (-0.9%), thereof ‘preserved meat and meat products’ (-8.8%). Prices rose in ‘electricity, gas, steam and air conditioning’ (+5.6%), thereof ‘electricity, transmission and distribution services’ (+6.0%). Prices increased in ‘transport equipment’ (+2.4%), thereof ‘parts and accessories for motor vehicles’ (+2.8%). Prices were higher also in ‘furniture, other manufactured products’ (+4.2%).
Among the main industrial groupings, higher were particularly prices of ‘durable consumer goods’ (+3.3%) and ‘capital goods’ (+2.5%), lower were prices of ‘energy’ (-2.8%).

According to an estimate, construction work prices rose by 3.0% (+3.1% in November) and prices for construction material and products input increased by 1.8% (+1.2% in November).

Service producer prices in the business sphere were higher by 2.1% (+2.0% in November). Prices for ‘management consulting services’ (+8.7%), ‘warehousing and support services for transportation’ (+4.8%), ‘computer programming, consultancy and related services’ (+4.2%) and ‘security and investigation services’ (+3.8%) rose. On the increase were also prices of ‘real estate services’ (+3.3%), ‘architectural and engineering services’ (+1.0%), ‘land transport services’ and ‘employment services’ (+2.1% both). Lower were prices of ‘advertising and market research services’ (-1.3%) and ‘information services’ (-0.6%). Service producer prices in the business sphere, excluding advertising services, grew by 2.3% (like in November).

Producer prices in 2020
In comparison to 2019, agricultural producer prices in 2020 were lower by 3.4% on average
(+4.9% in 2019). Prices of crop products dropped by 4.0% and prices of animal products went down by 2.4%. Prices of potatoes (-19.8%), vegetables (-6.0%) and cereals (-4.9%) fell. Prices of fruit grew by 16.5%. Among animal products prices decreases were recorded in cattle for slaughter (-4.1%), milk (-3.4%), poultry (-2.4%) and pigs for slaughter (-0.5%). On the increase were prices of eggs by 4.0%.

Prices of industrial producers increased on average by 0.1% in 2020 y-o-y (+2.6% in 2019). Prices rose in ‘electricity, gas, steam and air conditioning’ (+7.7%), thereof ‘electricity, transmission and distribution services’ (+9.0%). Prices were higher in ‘water supply, sewerage, waste management and remediation services’ (+6.1%), ‘furniture, other manufactured products’ (+4.5%) and ‘transport equipment’ (+2.2%). Prices went up in ‘food products, beverages, tobacco’ (+2.1%), thereof ‘preserved meat and meat products’ (+3.4%). Lower were prices particularly in ‘coke, refined petroleum’. On the decrease were also prices in ‘chemicals and chemical products’ (-8.3%) and ‘mining and quarrying’ (-2.8%).
Among the main industrial groupings, higher were particularly prices of ‘capital goods’ (+2.5%) and ‘non-durable consumer goods’ (+2.2%), lower were prices of ‘energy’ (-1.7%).

According to an estimate, construction work prices went up by 3.7% y-o-y (+4.6% in 2019 after the specification). Construction material input prices rose by 0.4% on average for the whole year 2020 (+3.4% in 2019).

Service producer prices in the business sphere went up by 2.1% (+2.6% in 2019). Increasing were prices of ‘warehousing and support services for transportation’ (+5.2%), ‘employment services’ (+5.1%), ‘computer programming, consultancy and related services’ (+3.6%), ‘management consulting services’ (+3.4%), ‘real estate services’ (+2.9%), ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+2.4%). On the increase were also prices of ‘postal and courier services’ (+1.8%), ‘architectural and engineering services’ (+1.6%) and ‘land transport services’ (+1.4%). On the decrease were prices in ‘advertising and market research services’ by 0.3%. Service producer prices in the business sphere, excluding advertising services, increased by 2.3% (+2.4% in 2019).

Industrial producer prices in the EU – November 2020 (preliminary data)
According to the Eurostat News Releases, industrial producer prices increased in November by 0.4% (in October they went up by 0.3%) in EU27, month-on-month. The highest increases were recorded in Denmark and France (+1.7% both). Prices rose in Austria (+0.3%), Poland (+0.2%) and Germany (+0.1%). The largest decreases were observed in Ireland (-1.4%), Slovakia (-0.7%) and Czechia (-0.5%).

Industrial producer prices decreased in November by 1.8% (in October they fell by 2.0%) in EU27, year-on-year. The largest decrease in prices was observed in Lithuania (-7.3%). Prices were lower in Austria (-1.8%), Poland (-1.0%), Germany (-0.6%), Slovakia (-0.2%) and Czechia (-0.1%). The only increases were recorded in Malta (+1.8%), Hungary and Slovenia (+1.1% both).

______________________
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 – 19 Price Indices of Constructions Works, Price Indices of Constructions, and Indices of Construction Costs
011044 – 19 Industrial Producer Price Indices
011045 – 19 Agricultural Producer Price Indices
011046 – 19 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: 23 February 2021


Related analysis: Producer price indices - 4th quarter of 2020

  • aipc011921.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: 19.01.2021
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