Producer price indices - June 2023

Y-o-y decrease of prices in agriculture deepened

19.07.2023
Code: 011047-23
 

Agricultural producer prices fell by 0.9% month-on-month (m-o-m) and decreased by 13.8% year-on-year (y-o-y). Industrial producer prices went down m-o-m (-0.3%) and went up y-o-y (+1.9%). Construction work prices were higher m-o-m (+0.1%) and y-o-y (+6.0%). Service producer prices in the business sphere fell m-o-m (-0.1%) and grew y-o-y (+6.1%).

“Prices in industry in June grew up by less than 2% in year-on-year comparison and continue to moderate their growth. Prices of agricultural decreased almost by 14%. Construction work prices, according to an estimate, went up by 6%, year-on-year, and the increase of service producer prices in the business sphere slightly exceeded 6%,” noted Vladimir Klimes, head of Industrial and International Trade Prices Statistics Unit of CZSO.

Agricultural producer prices were lower by 0.9% m-o-m. Decreasing were prices of milk (-4.9%), eggs and cereals (-4.7% both), oleaginous crops (-4.6%) and poultry (-1.5%). Prices of pigs for slaughter (+2.9%) and cattle for slaughter (+0.3%) went up. Y-o-y agricultural producer prices were lower by 13.8% (in May they dropped by 10.2%). Prices in the crop production fell by 25.7%. On the decrease were prices of oleaginous crops (-40.5%), cereals (-30.4%) and fruit (-5.0%). Prices of fresh vegetables (+55.9%) and potatoes (+32.2%) went up. Prices in animal products soared by 6.3%. On the increase were prices of eggs (+31.1%), pigs for slaughter (+25.4%) and poultry (+11.1%). Decreasing were prices of milk (-0.5%) and cattle for slaughter (-2.0%).

Prices of industrial producers went down by 0.3% m-o-m. Prices were lower in ‘electricity, gas, steam and air conditioning’ (-0.6%), thereof ‘electricity, transmission and distribution services’ (-0.8%). Prices were lower in ‘chemicals and chemical products’ (-2.9%), ‘basic metals’ (-2.0%), ‘fabricated metal products’ (-0.7%) and ‘food products’ (-0.4%). On the increase were primarily prices in ‘coke, refined petroleum products’. Prices of industrial producers increased by 1.9% (in May they grew by 3.6%), y-o-y. Prices rose in ‘electricity, gas, steam and air conditioning’ (+19.6%), ‘food products’ (+7.4%), ‘coal and lignite’ (+69.3%) and ‘other non-metallic mineral products’ (+13.7%). On the decrease were primarily prices in ‘coke, refined petroleum products’. Prices were lower also in ‘chemicals and chemical products’ (-16.9%), ‘basic metals’ (-14.9%) and ‘wood and of products of wood and cork’ (-16.7%). Among the main industrial groupings, higher were particularly prices of ‘non-durable consumer goods’ (+9.8%), ‘durable consumer goods’ (+6.1%) and ‘energy’ (+3.8%), y-o-y. On the decrease were prices of ‘intermediate goods’ (-4.3%). Prices of industrial producers excluding energy rose by 1.2% y-o-y (in May they soared by 2.6%).

According to an estimate, construction work prices rose by 0.1% and prices of construction material and products input went down by 0.3% m-o-m. According to an estimate, y-o-y construction work prices soared by 6.0% (in May they increased by 6.9%) and prices for construction material and products input grew by 1.2% (in May they rose by 2.4%).

Service producer prices in the business sphere decreased by 0.1% m-o-m. Price decreases were recorded in ‘employment services’ (-4.1%), ‘rental and leasing services’ (-0.6%) and ‘land transport services’ (-0.3%). Prices for ‘management consulting services’ (+0.8%), security and investigation services’ (+0.7%) and ‘information services’ (+0.5%) grew. Service producer prices in the business sphere, excluding advertising services fell by 0.2%. Service producer prices in the business sphere went up by 6.1% y-o-y (in May they rose by 6.2%). Prices for ‘employment services’ (+22.0%), ‘computer programming, consultancy and related services’ (+9.5%), ‘advertising and market research services’ (+7.8%), ‘real estate services’ (+7.0%) and ‘land transport services’ (+4.6%) rose. Service producer prices in the business sphere, excluding advertising services, were higher by 5.9% (in May they soared by 6.3%).
 

Industrial producer prices in the EU – May 2023 (preliminary data)

According to the Eurostat News Releases, industrial producer prices decreased in May by 1.8% (in April they fell by 3.1%) in EU27, m-o-m. The largest monthly decreases were recorded in Ireland (-7.4%). Prices were lower in Slovakia (-2.2%), Poland (-1.9%), Austria (-1.6%), Germany (-1.3%) and Czechia (-0.8%). Increases were observed in Cyprus (+2.8%), and Malta (+0.4%).

Industrial producer prices fell in May by 0.5% (in April they grew by 2.1%) in EU27, y-o-y. The largest decreases were recorded in Greece (-10.6%), Ireland (-9.7%) and Belgium (-9.6%). The highest increases were observed in Hungary (+36.3%) and Slovakia (+21.0%). Prices were higher in Poland and Austria (+5.0% both), Czechia (+3.6%) and Germany (+1.6%).
 

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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 – 23 Price Indices of Constructions Works, Price Indices of Constructions, and Indices of Construction Costs
011044 – 23 Industrial Producer Price Indices
011045 – 23 Agricultural Producer Price Indices
011046 – 23 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 August 2023

 


Related analysis: Producer price indices - 2. quarter of 2023

  • aipc071923.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 month-on-month and year-on-year increments)
  • Chart 1 Industrial Producer Price Indices (year-on-year changes and changes to the base year 2015)
  • Chart 2 Construction Work Price Indices (year-on-year changes and changes to the base year 2015)
  • Chart 3 Service Producer Price Indices in the Business Sphere (year-on-year changes and changes to the base year 2015)
  • Chart 4 Agricultural Producer Price Indices (year-on-year changes and changes to the base year 2020)
  • Chart 5 Industrial Producer Price Indices, International Comparison (changes to the base year 2015)
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Published: 19.07.2023
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