Producer price indices - February 2012

Prices of agricultural producers dropped after eighteen months of growth, year-on-year

15.03.2012
Code: r-7001-12
 




In February 2012, compared with the previous month, agricultural and industrial producer prices grew by 0.7% and 0.1%, respectively. Construction work prices stayed unchanged. Market services prices fell by 2.2%.
In comparison to February 2011, prices of agricultural producers, construction works and market services were lower by 3.6%, 0.5% and 0.4%, respectively. Industrial producer prices increased by 3.6%.

Month-on-month comparison:

Aricultural producer prices in total increased (+0.7%). Prices of crop products rose by 1.7%. Higher were prices of cereals (+3.3%) and vegetables (+4.3%). Prices of animal products decreased (-0.5%) for the first time after seventeen months. Lower were prices of pigs for slaughter (-2.4%), poultry (-1.6%) and milk (-1.2%). Prices of eggs (+11.6%) and cattle for slaughter (+1.6%) increased.

Prices of industrial producers went up by 0.1%. Prices rose more markedly in ‘chemicals and chemical products’ (+3.6%) and ‘coke, refined petroleum products’ (+3.5%). The more significant drop was recorded in ‘transport equipment’ (-1.5%), ‘basic metals, fabricated metal products’ and ‘food products, beverages, tobacco’ (-0.4% both).From ‘food products, beverages, tobacco’, prices went down particularly in ‘dairy products’ (-1.4%), ‘preserved meat and meat products’ (-0.8%) and ‘bakery and farinaceous products’ (-0.7%). On the other hand, prices went up in ‘prepared animal feeds’ (+0.8%) and ‘other food products’ (+0.7%).

According to an estimate, construction work prices and construction material input prices stayed unchanged.

Market services prices in the business sphere fell by 2.2%, affected by price decrease in advertising and market research services (-15.7%). On the decrease were also prices of architectural and engineering services (-2.9%), freight transport services (-0.4%) and real estate services (-0.4%). In contrast, financial intermediation, except insurance and pension funding and insurance services grew (+0.5% and +1.1%, respectively). Market services prices in total excluding advertising services fell by 0.4%.

Year-on-year comparison:

For the first time after eighteen months, agricultural producer prices were lower by 3.6% (+0.7% in January). Prices of crop products fell by 12.7%. Lower prices were especially registered for prices of potatoes (-55.1%) and vegetables (-51.9%). On the decrease were also prices of cereals (-9.8%) and oil plants (-9.1%). Animal products prices increased (+9.1%), due to higher price of eggs (+52.4%) and pigs for slaughter (+17.7%). On the increase were prices of cattle for slaughter and poultry (both +6.0%) and milk (+3.0%).

According to an estimate, construction work prices were down by 0.5% (-0.4% in January). Construction material input prices were up by 1.3% (+1.8% in January).

Industrial producer prices gained 3.6% (+4.1% in January). The price growth was influenced primarily by the higher prices in ‘coke, refined petroleum products’ (+19.6%) and ‘food products, beverages, tobacco’ (+5.5%), of these particularly ‘bakery and farinaceous products’ (+12.8%), ‘other food products’ (+12.1%) and ‘preserved meat and meat products’ (+5.6%). Prices increased in ‘basic metals, fabricated metal products’ (+3.3%). Prices dropped in ‘electrical equipment’ (-1.1%) y-o-y.
Among the main industrial groupings, prices of ‘energy’ increased the most (+6.6%), y-o-y.

For the first time after thirteen months, market services prices in the business sphere decreased by 0.4% (+2.1% in January). Decreasing were prices in architectural and engineering services (-3.8%), real estate services (-0.9%), telecommunication services (-0.5%) and advertising and market research services (-0.3%). On the increase were prices of freight transport services (+1.7%) and insurance services (+1.1%). Market services prices excluding advertising services decreased by 0.4% in total (+0.3% in January).

Industrial producer prices in the EU – January 2012*

According to the Eurostat News Releases, industrial producer prices in the EU27 increased by 0.7% in January (-0.2% in December), month-on-month. Among the Member States for which data are available, the highest increases were recorded in Greece (+2.8%), Latvia and Portugal (+2.3% both). Prices went up in Slovakia (+1.1%), the Czech Republic (+1.0%), Poland and Germany (+0.6% both). Prices remained stable in Slovenia (0.0%).

EU27 producer prices rose by 4.4% in January (+4.9 in December), year-on-year. The largest increases in the total index were observed in Latvia (+10.3%), Lithuania (+9.2%) and Cyprus (+8.7%). Prices rose in Poland (+6.9%), the Czech Republic (+4.1%), Germany (+3.4%) and Slovakia (+2.5%). A decrease was recorded only in Sweden (-0.6%).

* Preliminary data

Information: Revision of industrial producer price indices

The industrial producer price indices are calculated with new weights 2010 from January 2012 on the base of a standard revision of the calculations of the price indices. The basilar indices with the base December 2005 = 100 are replaced by the new price base December 2010 = 100.
Indices calculated that way are chained from the 4-git level of CZ-CPA to the existing price indices with the base 2005 average = 100 and thus continuation of the present time series is ensured. More information on the CZSO’s web pages.


Notes 1
Responsible manager of the CZSO: Jiri Mrazek, Department Director, phone (+420) 274 052 533, jiri.mrazek@czso.cz
Contact: Miloslav Beranek, phone (+420) 274 052 665, e-mail: miloslav.beranek@czso.cz
Hana Sykorova, phone (+420) 274 054 101, e-mail: hana.sykorova@czso.cz
Data source: CZSO surveys
End of data collection / end of data processing:
Agricultural producer price indices: 24th calendar day of reference month / 8th calendar day of the following month
Industrial producer price indices: 20th calendar day of reference month / 7th calendar day of the following month
Construction work price indices: last calendar day of reference month / 5th working day of the following month
Market services price indices: 15th calendar day of reference month / 7th calendar day of the following month
Except for the construction work price indices, the published data are final. Estimates of the construction work price indices are carrying out on the 9th calendar day of the following day. Construction work price indices are updated using the finished quarterly survey and the final data are released on the 45th calendar day of the following quarter.
Related publications:
700144 - 11 Price Indices of Constructions Works, Price Indices of Constructions and Indices of Construction Costs
7003 - 12 Producer Price Indices – Basic Information
700444 - 12 Industrial Producer Price Indices
700544 - 12 Agricultural Producer Price Indices
700844 - 12 Market Services Price Indices in the Business Sphere
Internet:
http://www.czso.cz/eng/edicniplan.nsf/aktual/ep-7?opendocument#70
/csu/czso/catalogue-of-products
Next News Release: 16 April 2012

Text not edited for language.



  • aipc031512.doc

  • Annexes:
  • Table 1 Producer prices (indices)
  • Table 2 Industrial producer prices (main industrial groupings, indices)
  • Table 3 Industrial producer prices (decomposition of increases – month-on-month, year-on-year)
  • Graph 1 Industrial producer prices (year-on-year changes, changes on base year)
  • Graph 2 Construction work prices (year-on-year changes, changes on base year)
  • Graph 3 Prices of market services for the business sphere (year-on-year changes, changes on base year)
  • Graph 4 Agricultural producer prices (year-on-year changes, changes on base year)
  • Graph 5 Industrial producer price indices – international comparison (changes on base year)
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Published: 15.03.2012
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