Producer price indices - November 2017

Y-o-y price increase in industry slowed again

18.12.2017
Code: 011047-17
 

In November 2017 compared with the previous month, agricultural producer prices grew by 0.3%. Construction work prices and prices of market services both went up by 0.1%. Industrial producer prices went down by 0.1%. In comparison to November 2016, agricultural producer prices rose by 10.1% and industrial producer prices grew by 0.9%. Construction work prices and prices of market services were also higher by 1.8% and 1.6%, respectively.

Month-on-month comparison:

Agricultural producer prices grew by 0.3%. Prices of eggs (+43.3%), fresh vegetables (+7.7%), poultry (+3.5%), milk (+3.0%), oil plants (+2.5%) and fresh fruit (+2.2%) went up. On the decrease were prices of pigs for slaughter by 4.1%.

Prices of industrial producers went down by 0.1%. On the decrease were prices in ‘food products, beverages, tobacco’ (-1.1%), thereof ‘dairy products’ (-2.2%) and ‘preserved meat and meat products’ (-1.2%). Lower were prices in ‘transport equipment’ (-0.5%), thereof ‘parts and accessories for motor vehicles’ (-1.0%). Prices rose the most rapidly in ‘coke, refined petroleum products’. On the increase were prices in ‘basic pharmaceutical products’ (+1.4%) and ‘mining and quarrying’ (+0.2%).

According to an estimate, construction work prices increased by 0.1% and construction material input prices went up by 0.2%.

Market services prices in the business sphere rose by 0.1% due to the price increasing of ‘publishing services’ (+0.2%), ‘real estate services’ (+0.3%) and ‘employment services’ (+2.3%). Market services prices excluding advertising services went up by 0.1%.

Year-on-year comparison:

Agricultural producer prices were higher by 10.1% (+8.3% in October). Prices of crop products grew by 6.2% due to increasing prices of fresh fruit (+77.4%), fresh vegetables (+13.4%), cereals (+7.9%) and oil plants (+2.5%). Prices of animal products went up by 16.1%. Higher were prices of eggs (+68.3%), milk (+34.5%) and cattle for slaughter (+4.1%). Prices of pigs for slaughter went down by 5.6%.

Prices of industrial producers were higher by 0.9% (+1.1% in October). Prices increased the most markedly in ‘basic metals, fabricated metal products’ (+4.9%). On the increase were also prices in ‘coke, refined petroleum products’. Prices rose in ‘food products, beverages, tobacco’ (+1.8%), thereof ‘dairy products’ (+10.3%) and ‘bakery and farinaceous products’ (+3.9%). Lower were prices in ‘transport equipment’ (-3.8%), thereof ‘parts and accessories for motor vehicles’ (-5.8%) especially. On the decrease were also prices in ‘electricity, gas, steam and air conditioning’ (-1.1%).

Among the main industrial groupings, prices of ‘intermediate goods’ (+2.0%) increased the most.

According to an estimate, construction work prices rose by 1.8% (like in October) and construction material input prices grew by 2.1% (+2.4% in October).

Prices of market services in the business sphere were higher by 1.6% (like in October). Increasing were prices in ‘publishing services’ (+3.5%), ‘architectural and engineering services’ (+3.0%), ‘insurance, reinsurance and pension funding services, except compulsory social security’ (+2.2%), ‘advertising and market research services’ (+1.9%) and ‘land transport services and transport services via pipelines’ (+1.1%). Market services prices excluding advertising services increased by 1.5% (+1.4% in October). 

Industrial producer prices in the EU – October 2017 (preliminary data)

According to the Eurostat News Releases, industrial producer prices increased in October by 0.4% (+0.5% in September) in EU28, month-on-month. The highest increase in industrial producer prices was observed in Belgium (+2.4%). Prices went up in Austria and Slovakia (+0.4% both), Poland (+0.3%), Germany (+0.2%) and remained stable in the Czech Republic. Prices decreased the most in Denmark (-1.5%).

Industrial producer prices were higher in October by 2.6% (+3.2% in September) in EU28, year-on-year. Industrial producer prices rose in all Member States, the most in Belgium (+6.9%). On the increase were prices in Poland (+4.5%), Slovakia (+2.8%), Germany (+2.5%), Austria (+1.6%) and the Czech Republic (+1.1%).

* * *

Information on revisions of agricultural producer price indices and price indices of market services

The Czech Statistical Office is finishing a revision of the calculation of agricultural producer price indices and price indices of market services, which is a change of the weighting scheme and change of the index base since January 2018. However, there is no major change in the index calculation methodology.

Price indices of agricultural producers will be calculated for a new index base 2015 average = 100 on new weighting schemes, based on the structure of the average sales for the years 2014, 2015 and 2016. Due to update the weights, the published aggregate base indices for the years 2015, 2016 and 2017 will be revised. Time series with the index base 2010 average = 100 will be ended by December 2017.

Price indices of market services will be calculated for a new index base 2015 average = 100 on new weighting schemes, based on the structure of the sales for the year 2015. Time series with the index base 2005 average = 100 will be ended by December 2017 and replaced with new time series with the index base 2015 average = 100. The existing published indices will not be revised.

The publication of price indices for January 2018 will be shifted in line with the Catalogue of Products 2018 by one week on 28 February 2018.

___________________
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 January 2018

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  •      aipc121817.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: 18.12.2017
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