Producer price indices - June 2017

Industrial producer price index was significantly influenced by low prices of crude oil

20.07.2017
Code: 011047-17
 

In June 2017 compared with the previous month, agricultural producer prices went up by 0.9% and construction work prices grew by 0.2%. Industrial producer prices decreased by 0.7% and prices of market services were lower by 0.1%. In comparison to June 2016, agricultural producer prices went up by 12.5% and industrial producer prices rose by 1.3%. Construction work prices and prices of market services were both higher by 1.5% and 1.1%, respectively.

Month-on-month comparison:

Agricultural producer prices grew by 0.9%. Prices of milk (+0.5%), cattle for slaughter (+1.0%), pigs for slaughter (+3.8%), fresh vegetables (+4.3%), potatoes (+11.9%) and fresh fruit (+37.0%) went up. Prices of oil plants (-2.0%), eggs (-2.2%) and poultry (-5.3%) went down.

Prices of industrial producers went down by 0.7%. This is the largest price decreasing since January 2016. Prices decreased the most importantly in ‘coke, refined petroleum products’. Lower were prices in ‘chemicals and chemical products’ (-2.7%), ‘basic metals, fabricated metal products’ (-0.9%) and ‘transport equipment’ (-0.8%). Higher were prices in ‘food products, beverages, tobacco’ (+0.4%), thereof ‘preserved meat and meat products’ (+1.5%) and ‘dairy products’ (+1.1%).

According to an estimate, construction work prices rose by 0.2% and construction material input prices fell by 0.3%.

Market services prices in the business sphere dropped by 0.1% due to the price decreasing of ‘advertising and market research services’ (-2.4%) and ‘telecommunications services’
(-0.4%). Higher were prices of ‘employment services’ (+2.4%), ‘computer programming, consultancy and related services’ (+0.2%) and ‘land transport services and transport services via pipelines’ (+0.1%). Market services prices excluding advertising services went up by 0.1%.

Year-on-year comparison:

Agricultural producer prices were higher by 12.5% (+12.6% in May). Prices of crop products grew by 7.5% due to increasing prices of fresh fruit (+12.6%), oil plants (+5.3%) and cereals (+3.1%). Prices of potatoes (-17.6%) and fresh vegetables (-14.1%) went down. Prices of animal products went up by 18.9%. Higher were prices of milk (+33.1%), pigs for slaughter (+25.7%) and eggs (+14.4%).

Prices of industrial producers rose by 1.3% (+2.3% in May). Higher were prices in ‘basic metals, fabricated metal products’ (+5.7%) and ‘mining and quarrying’ (+4.1%). Prices rose in ‘food products, beverages, tobacco’ (+4.0%), thereof ‘dairy products’ (+13.0%) and ‘preserved meat and meat products’ (+6.9%). Prices went down in ‘transport equipment’ (-2.5%) and ‘electricity, gas, steam and air conditioning’ (-1.1%).

Among the main industrial groupings, prices of ‘non-durable consumer goods’ (+3.9%) increased the most.

According to an estimate, construction work prices rose by 1.5% (like in May) and construction material input prices grew by 2.0% (+2.6% in May).

Prices of market services in the business sphere were higher by 1.1% (+0.9% in May). Increasing were prices in ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+5.3%) ‘postal and courier services’ (+2.7%) and ‘advertising and market research services’ (+2.4%). Decreasing were prices of ‘telecommunications services’ by 1.1%. Market services prices excluding advertising services increased by 1.0% (+0.9% in May). 

Industrial producer prices in the EU – May 2017*

According to the Eurostat News Releases, industrial producer prices went down in May by 0.4% (+0.1% in April) in EU28, month-on-month. Prices decreased the most in Greece (-1.9%). Lower were prices in the Czech Republic, Austria and Poland (-0.5% all), Slovakia (-0.3%) and Germany (-0.1%). Prices rose the most in Ireland (+1.1%).

Industrial producer prices were higher in May by 3.7% (+4.8% in April) in EU28, year-on-year.

The largest increase was recorded in Belgium (+9.0%). Prices rose in Poland (+4.5%), Germany (+2.8%), Slovakia (+2.6%), the Czech Republic (+2.3%) and Austria (+1.8%). Price decrease was observed only in Luxembourg (-3.0%).

____________________
* Preliminary data

Notes:
Responsible manager of the CZSO: Jiri Mrazek, Department Director, phone (+420) 274 052 533,
e-mail: jiri.mrazek@czso.cz
Contact: Jiri Sulc, phone (+420) 274 052 148, e-mail: jiri.sulc@czso.cz
Miloslav Beranek, phone (+420) 274 052 665,
e-mail: miloslav.beranek@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 finalised. 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 finalised data are released on the 45th calendar day of the following quarter.
Related publications: 011041 - 17 Price Indices of Constructions Works, Price Indices of Constructions and Indices of Construction Costs
011044 - 17 Industrial Producer Price Indices
011045 - 17 Agricultural Producer Price Indices
011046 - 17 Market Services Price Indices in the Business Sphere
Internet: https://www.czso.cz/csu/czso/producer-prices-publications
Next News Release: 16 August 2017

Text not edited for language.


Related analysis: Producer price indices - 2nd quarter of 2017

  • aipc072017.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 2005)
  • Chart 3 Price Indices of Market Services for the Business Sphere (year-on-year changes, changes on base year 2005)
  • Chart 4 Agricultural Producer Price Indices (year-on-year changes, changes on base year 2010)
  • Chart 5 Industrial Producer Price Indices – International Comparison (changes on base year 2010)
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Published: 20.07.2017
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