Producer price indices - December 2011

Growth in industrial producer prices slowed down

16.01.2012
Code: r-7001-11
 




In December 2011, compared with the previous month, agricultural producer prices and market services prices fell (both by 0.3%). Industrial producer prices grew by 0.1%. Construction work prices stayed unchanged.
In comparison to December 2010, agricultural and industrial producer prices were higher by 3.6% and 4.6%, respectively. Market services prices increased by 1.5%. Construction work prices decreased by 0.5%.
On average, in 2011, compared with 2010, agricultural and industrial producer prices were higher by 19.1% and 5.6%, respectively. Prices of market services grew by 0.9%. Prices of construction work were lower (-0.5%).

Monthly changes

Agricultural producer prices decreased by 0.3% in total. Prices of crop products fell by 2.1%. Lower were prices of cereals (-1.9%), vegetables (-6.0%) and potatoes (-9.0%). Higher were prices of fruit (+8.4%). Prices of animal products increased by 1.8%, higher were prices of eggs (+7.1%), pigs for slaughter (+4.3%), cattle for slaughter (+1.4%) and milk (+0.8%). In contrast, prices of poultry decreased (-0.9%).

Prices of industrial producers went up by 0.1%. The increase in prices was influenced by the higher prices in ‘food products, beverages, tobacco’ (+0.3%), ‘mining and quarrying’ (+0.7%) and ‘chemicals and chemical products’ (+0.6%). Prices went down more significantly in ‘basic metals, fabricated metal products’ (-0.3%).

According to an estimate, construction work prices stayed unchanged. Construction material input prices decreased by 0.2%.

Market services prices in the business sphere fell by 0.3%, affected by price decrease in advertising and market research services (-2.1%). In contrast, financial intermediation, except insurance and pension funding and employment services increased (+0.4% and 0.5%, respectively). Market services prices in total excluding advertising services stayed unchanged.

Annual changes

Agricultural producer prices were higher by 3.6% (+5.3% in November). For the first time after 16 months prices of crop products y-o-y fell (-1.2%). Lower prices were registered for prices of potatoes (-52.3%), vegetables (-43.7%) and fruit (-0.9%). On the other hand, prices of cereals (+1.2%) and oil plants (+12.9%) grew. Animal products prices grew (+9.5%), due to higher prices of milk (+6.1%), cattle for slaughter (+7.8%), poultry (+8.2%), pigs for slaughter (+16.6%) and eggs (+21.7%).

Industrial producer prices gained 4.6% (+5.6% in November). The deceleration of the growth was caused primarily by the marked m-o-m growth in December 2010. The higher prices in ‘coke, refined petroleum products’ (+15.9%), ‘food products, beverages, tobacco’ (+7.2%) and ‘basic metals, fabricated metal products’ (+5.0%) caused more significantly on the price level. Prices dropped only in ‘electrical equipment’ (-0.7%) y-o-y. Among the main industrial groupings, prices of ‘energy’ increased the most (+7.1%), y-o-y.

According to an estimate, construction work prices were down by 0.5% (same as in November). Construction material input prices were up by 2.0% (+2.3% in November).

Market services prices in the business sphere increased by 1.5% (+1.2% in November). Increasing were especially prices in advertising and market research services (+11.2%). On the increase were also prices of freight transport services (+2.1%) and insurance services (+0.7%). Lower prices were recorded in rental and leasing services (-6.2%), and telecommunication services (-0.3%). Market services prices excluding advertising services increased by 0.2% in total (+0.3% in November).

Producer prices in 2011

In comparison to 2010, agricultural producer prices in 2011 were higher by 19.1 % on average. Prices of crop and animal products grew by 29.9% and 7.6% respectively.

Prices of industrial producers in the year 2011 increased by 5.6% on average year-on-year. This is a growth by 4,4 p.p. in comparison with the year 2010. Prices went up in ’coke, refined petroleum products’ (+22.9%), ‘chemicals and chemical products’ (+8.6%) and ‘food products, beverages, tobacco’ (+7.7%). Prices went down in ‘transport equipment’ (-1.9%) and ‘computer, electronic and optical products’ (-2.3%).

Construction work prices were lower by 0.5%. Construction material input prices were up by 2.8%.

Market services prices were higher by 0.9% in 2011. Price increases were observed especially in advertising and market research services (+6.2%). On the increase were prices in postal and courier services (+2.6%), freight transport services (+1.9%) and financial intermediation, except insurance and pension funding (+1.8%). Lower prices were recorded in telecommunication services (-0.6%) and insurance services (-1.7%). Market services prices excluding advertising services were higher by 0.2% in total.

Industrial producer prices in the EU – November 2011*

According to the Eurostat News Release industrial producer prices in the EU27 increased by 0.3% in November (+0.2% in October), month-on-month. Among the Member States for which data are available, the highest increases were recorded in Sweden (+1.6%), Ireland, Greece and the United Kingdom (+0.7% all). Prices rose in Poland (+0.5%), the Czech Republic (+0.4%), Slovakia (+0.2%) and Germany (+0.1%). The higher decreases were observed in Denmark and Latvia (-0.4% both).

EU27 producer prices rose by 6.3% in November (+6.5% in October), year-on-year. The largest increases were observed in the United Kingdom (+11.6%), Lithuania (+10.8%) and Latvia (+9.1%). Prices rose in Poland (+7.8%), the Czech Republic (+5.6%), Germany (+5.2%) and Slovakia (+3.2%). There is none y-o-y decrease in the EU countries.

* Preliminary data

Information: Revision of industrial producer price indices

The industrial producer price indices will be calculated with new weights 2010 from January 2012 on the base of a standard revision of the calculations of the price indices. The price indices with the base December 2005 = 100 will be replaced by the new technical price indices with the base December 2010 = 100. Indices calculated that way will be chained from the 4-digit level of CZ-CPA to the existing indices with the base 2005 average = 100 and thus continuation of the present time series will be ensured.

Publication of all producer price indices for January 2012 will be postponed in the harmony with Catalogue of products for one week at 22 February 2012.

Analysis - Producer price indices in Q4 2011 and in the year 2011


Notes
Responsible manager of the CZSO: Jiri Mrazek, Department Director
Contact: Miloslav Beranek, phone (+420) 274 05 2 665, 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 published 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:
700144 - 11 Price Indices of Constructions Works, Price Indices of Constructions and Indices of Construction Costs
7003 - 11 Producer Price Indices – Basic Information
700444 - 11 Industrial Producer Price Indices
700544 - 11 Agricultural Producer Price Indices
700844 - 11 Market Services Price Indices in the Business Sphere
Internet:
http://www.czso.cz/eng/edicniplan.nsf/aktual/ep-7?opendocument#70
/csu/czso/catalogue-of-products
Next News Release: 22 February 2012

Text not edited for language.



  • aipc011612.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)
  • Graph 5 Industrial producer price indices – international comparison (changes on base year)
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Published: 16.01.2012
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