Producer price indices - December 2010

The growth of industrial producer prices considerably accelerated

17.01.2011
Code: r-7001-10
 




In December 2010, compared with the previous month, agricultural and industrial producer prices grew by 1.4% and 1.0%, respectively. Construction work prices stayed unchanged and market services prices decreased by 0.5%.
In comparison to December 2009, agricultural and industrial producer prices were higher by 23.6% and 3.6%, respectively. Construction work prices decreased by 0.4% and prices of market services were 1.0% down.
On average, in 2010, compared with 2009, agricultural producer prices were higher by 5.4% and industrial producer prices by 1.2%. Prices of construction work (-0.2%) and market services (-1.2%) were lower.


* * *

Monthly changes

Agricultural producer prices increased by 1.4% in total. Prices of crop products grew by 2.1%. Higher were prices of cereals (+3.9%), potatoes (+4.1%), fruit (+5.4%) and vegetables (+7.9%). Prices of animal products increased by 0.4%, higher were prices of milk (+1.7%) and poultry (+0.3%). In contrast, prices of pigs for slaughter and eggs decreased by 1.5% and 3.0%, respectively.

Prices of industrial producers increased by 1.0%. This is the highest m-o-m growth for the last 23 months. This growth is influenced by the conspicuous rise in prices of ‘coke, refined petroleum products’ (+9.3%). Prices increased also in ‘transport equipment’ by 1.5% (‘parts and accessories for motor vehicles’ by +2.1%) and in ‘food products, beverages, tobacco’ by 0.6% (‘bakery and farinaceous products’ by 3.5% and ‘vegetable and animal oils and fats’ by 6.0%). There were no price decreases under level of previous month in the branches

According to an estimate, after four months in sequence, construction work prices stayed unchanged. Construction material input prices increased by 0.2%.

Market services prices in the business sphere fell by 0.5%, affected by price decrease in advertising and market research services (-5.1%) and freight transport (-0.2%). Market services prices in total excluding advertising services increased by 0.1%.


Annual changes

Agricultural producer prices were up by 23.6% (+23.4% in November). Prices of crop products grew by 39.4%. Considerable increases were registered for prices of cereals (+54.6%), plant oils (+37.2%), potatoes (+87.6%), fruit (+25.5%) and vegetables (+50.3%). Animal products prices grew (+8.6%), due to higher price of milk (+23.8%). On the increase were prices of poultry (+2.2%) and cattle for slaughter (+1.6%). On the decrease were prices of pigs for slaughter (-2.5%) and eggs (-22.0%). The considerable y-o-y growth was influenced particularly by lower comparative basis from the year of 2009.

Industrial producer prices rose by 3.6%. This is the most since October 2008. The largest influence on the growth of total index had the increasing prices in ‘coke, refined petroleum products’ (+30.1%), ‘basic metals, fabricated metal products’ (10.1%), ‘chemicals and chemical products’ (+12.7%) and ‘mining and quarrying’ (+8.6%). Prices rose in ‘food products, beverages, tobacco’ (+1.8%). Prices decreased in ‘transport equipment’ by 3.0% (‘parts and other accessories for motor vehicles’ by 3.8%), ‘electricity, gas, steam and air conditioning’ by 1.3% (‘electricity, transmission and distribution services’ by 3.6%) and ‘rubber and plastic products and other non-nonmetallic mineral products’ by 1.0% (‘cement, lime and plaster’ by 6.2% and ‘clay building material’ by 8.3%).
Among the main industrial groupings, prices of ‘energy’ increased the most (+7.1%); the largest decrease was recorded for ‘capital goods’ (-1.1%).

According to an estimate, construction work prices were down by 0.4% (-0.3% in November). Construction material input prices were up by 2.7% (the same as in November).

Market services prices in the business sphere were down by 1.0% (-1.2% in November). Decreasing were prices in advertising and market research services (-6.8%) and insurance (-3.8%). Also prices of computer programming, consultancy (-1.6%) and telecommunications services (-1.0%) decreased. Higher prices were recorded in employment services (+4.0%) and postal and courier services (+3.1%). Market services prices excluding advertising services decreased in total by 0.2%.


Producer prices in 2010

In comparison to 2009, agricultural producer prices in 2010 were higher by 5.4 % on average. Prices of crop and animal products grew by 6.3% and 4.2% respectively.

Prices of industrial producers in the year 2010 increased by 1.2% on average year-on-year. This is the accrual by 4.3 p.p. compared to the year 2009 (-3.1%). Prices increased in ‘coke, refined petroleum products’ (+30.7%), ‘chemicals and chemical products’ (+13.5%) and ‘mining and quarrying’ (+5.7%). Prices decreased in ‘transport equipment’ (-4.5%), ‘basic pharmaceutical products’ (-3.2%) and ‘food products, beverages, tobacco’ (-2.0%).

Construction work prices were lower by 0.2%, which was the first y-o-y drop since 1994 when the survey started. Construction material input prices were up by 0.6%.

Market services prices in the business sphere were lower by 1.2% in 2010. Price decreases were observed especially in advertising and market research services (-6.9%). On the decrease were prices in real estate services (-1.8%) and telecommunications services (-1.3%). Price increases were observed in employment services (+9.4%).


Industrial producer prices in the EU – November 2010*

According to the Eurostat News Release, industrial producer prices in the EU27 increased by 0.5% in November, like in October, month-on-month. Among the Member States for which data are available, the highest increases in the total index were recorded in Ireland and Greece (+1.3% both), Bulgaria, Hungary and the United Kingdom (+1.1% all). Prices rose in Germany (+0.2%). The only decrease was observed in Cyprus (-0.7%), while prices remained stable in Malta, Slovenia and Slovakia.

EU27 producer prices rose by 4.8% in November (+4.5% in October), year-on-year. The largest increases in the total index were observed in Malta (+14.8%), Bulgaria (+11.1%) and Hungary (+10.7%). Prices rose in Germany (+4.3%). The only decrease was observed in Slovakia (-1.1%).

* Preliminary data

Analysis - Producer price indices in the fourth quarter of 2010 and in 2010


Notes
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 data are finalised. 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: 7001-10 Price Indices of Constructions Works, Price Indices of Constructions and Indices of Construction Costs
7003-10 Producer Price Indices – Basic Information
7004-10 Industrial Producer Price Indices
7005-10 Agricultural Producer Price Indices
7008-10 Market Services Price Indices in the Business Sphere



  • aipc011711.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)
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Published: 17.01.2011
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