Producer price indices - June 2020

Agricultural producer prices fell y-o-y

17.07.2020
Code: 011047-20
 

Agricultural producer prices went up by 0.7%. Construction work prices remained stable. Industrial producer prices (-0.1%) and service producer prices in the business sphere
(-0.2%) both went down, month-on-month. From the year-on-year perspective, agricultural producer prices decreased by 4.4% and industrial producer prices fell by 0.3%. Construction work prices (+4.3%) and service producer prices in the business sphere (+2.1%) increased.

Month-on-month comparison
Agricultural producer prices grew by 0.7%. Prices of cereals (+1.6%) and poultry (+0.5%) were higher. On the decrease were prices of oleaginous crops (-0.3%), cattle for slaughter
(-0.4%), eggs (-2.5%), milk (-3.5%) and pigs for slaughter (-5.3%).

Prices of industrial producers were lower by 0.1%. Prices fell in ‘transport equipment’ (-1.2%), thereof ‘parts and accessories for motor vehicles’ (-1.8%). On the decrease were prices in ‘food products, beverages, tobacco’ (-0.7%), there of ‘preserved meat and meat products’ (-1.2%) and ‘dairy products’ (-1.5%). Prices fell in ‘basic metals, fabricated metal products’ (-0.5%) and ‘rubber and plastic products, other non-metallic mineral products’ (-0.6%). Prices grew particularly in ‘coke, refined petroleum products’.

According to an estimate, construction work prices remained stable and prices of construction material and products input dropped by 0.1%.

Service producer prices in the business sphere fell by 0.2%. Prices for ‘employment services’ (-4.1%), ‘advertising and market research services’ (-2.2%) and ‘warehousing and support services for transportation’ (-0.9%) decreased. On the increase were prices of ‘architectural and engineering services’ (+0.3%), ‘management consulting services’ and ‘computer programming, consultancy and related services’ (+0.4% both). Service producer prices in the business sphere, excluding advertising services went down by 0.2%.

Year-on-year comparison
Agricultural producer prices fell by 4.4% (-2.7% in May). Prices in the crop production dropped by 4.5%. On the decrease were prices of potatoes (-26.1%), cereals (-5.4%) and oleaginous crops (-2.8%). Prices of fruit (+22.8%) and fresh vegetables (+13.3%) went up. Prices of animal products went down by 4.5%. Prices of cattle for slaughter (-7.3%), milk
(-5.9%), pigs for slaughter (-2.7%) and poultry (-1.0%) were lower. Prices of eggs were higher by 4.3%. 

Prices of industrial producers were lower by 0.3% (-0.9% in May). Prices fell primarily in ‘coke, refined petroleum products’. Lower were prices in ‘chemicals and chemical products’ (-15.6%), ‘mining and quarrying’ (-3.6%) and ‘basic metals, fabricated metal products’ (-1.2%). Prices went up in ‘electricity, gas, steam and air conditioning’ (+8.0%), thereof ‘electricity, transmission and distribution services’ (+9.6%). Prices increased in ‘transport equipment’ (+3.4%), thereof ‘parts and accessories for motor vehicles’ (+3.6%). Higher were also prices in ‘furniture, other manufactured products’ (+4.7%). Prices rose in ‘food products, beverages, tobacco’ (+1.7%), thereof ‘preserved meat and meat products’ (+3.2%).

Among the main industrial groupings, lower were prices of ‘energy’ (-2.8%) and ‘intermediate goods’ (-2.4%).

According to an estimate, construction work prices rose by 4.3% (+4.1% in May) and prices for construction material and products input grew by 0.1% (+0.2% in May).

Service producer prices in the business sphere were higher by 2.1% (+2.0% in May). Prices for ‘employment services’ (+4.4%), ‘warehousing and support services for transportation’ (+4.3%), ‘security and investigation services’ (+4.1%), ‘computer programming, consultancy and related services’ (+3.3%) and ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+3.0%) rose. Service producer prices in the business sphere, excluding advertising services, grew by 2.0% (+2.2% in May).

Industrial producer prices in the EU – May 2020 (preliminary data)
According to the Eurostat News Releases, industrial producer prices fell in May by 0.5% (-1.9% in April) in EU27, month-on-month. The largest decrease was recorded in Belgium (-4.6%). Price were lower in Slovakia (-1.7%), Austria (-0.7%) and Germany (-0.5%), remained stable in Poland and were higher in the Czech Republic (+0.4%). The highest increase was observed in Greece (+1.2%).

Industrial producer prices decreased in May by 4.6% (-4.3% in April) in EU27, year-on-year. The largest decrease was observed in Lithuania (-11.3%). Price were lower in Austria (-3.5%), Poland (-2.5%), Germany (-1.9%), the Czech Republic (-0.9%) and Slovakia (-0.7%). The highest increase was recorded in Malta (+1.5%).

________________________
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: 17 August 2020


Related analysis: Producer price indices - 2nd quarter of 2020

  • aipc071720.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: 17.07.2020
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