Producer price indices - December 2023
On average for the whole year 2023, only agricultural producer prices fell year-on-year
Agricultural producer prices fell by 1.2% month-on-month (m-o-m) and by 19.0% year-on-year (y-o-y). Industrial producer prices decreased by 0.5% m-o-m and increased by 1.4% y‑o‑y. Construction work prices grew by 0.1% m-o-m and by 2.6% y-o-y. Service producer prices in the business sphere remained unchanged m-o-m and rose by 4.4% y-o-y. Compared to 2022, on average for the whole year 2023, agricultural producer prices fell by 6.0%. Industrial producer prices (+5.0%), construction work prices (+6.0%) and service producer prices in the business sphere (+5.6%) increased.
“In a year-on-year comparison, prices in agriculture decreased already for the eighth month in a row. They fell by 19.0% year-on-year in December. Prices of industrial producers were higher by 1.4% year-on-year. Construction work prices, according to an estimate, increased by 2.6% year-on-year and service producer prices in the business sphere by 4.4%,” noted Vladimir Klimes, head of Industrial and International Trade Prices Statistics Unit of CZSO.
Agricultural producer prices decreased by 1.2% m-o-m. Declining were prices of cattle for slaughter (-1.2%), fruit (-1.2%), pigs for slaughter (-2.0%), cereals (-2.6%) and poultry (-4.2%). Increase was recorded for prices of vegetables (+7.3%), potatoes (+3.6%), eggs (+3.0%) and milk (+2.6%) grew. Y-o-y, agricultural producer prices were lower by 19.0% (-16.2% in November). In crop production, prices fell by 23.3%. Prices of oilseeds (-31.7%) and cereals (‑37.2%) were lower. Prices of fruit (+43.3%), potatoes (+25.8%) and vegetables (+4.6%) increased. In animal production, prices were lower by 12.9%. Decrease occurred in prices of milk (-19.6%), eggs (‑18.1%), poultry (-11.0%) and cattle for slaughter (-3.7%). Prices of pigs for slaughter were higher (+7.8%).
Compared to 2022, on average for the whole year 2023, agricultural producer prices fell by 6.0% (+31.8% in 2022). Prices in crop production dropped by 13.7% and prices for animal production went up by 7.0%. Decrease occurred in prices of cereals (-20.4%) and oilseeds (‑28.8%). Prices of potatoes (+39.4%), vegetables (+19.0%) and fruit (+10.4%) increased. In animal production, prices of eggs (+28.6%), pigs for slaughter (+25.0%), poultry (+8.8%), cattle for slaughter (+2.7%) and milk (+0.5%) were higher.
Prices of industrial producers went down by 0.5% m-o-m, particularly due to the price decreasing in ‘coke, refined petroleum products’. Prices were lower in ‘chemicals and chemical products’ (-3.1%), ‘basic metals’ (-0.8%), ‘beverages’ (-0.9%), ‘crude petroleum and natural gas’ (-3.8%) and ‘food products’ (-0.1%). Prices rose in ‘electricity, gas, steam and air conditioning’ and ‘rubber and plastic products’ (+0.3% both). Prices of industrial producers rose by 1.4% (in November they grew by 0.8%), y-o-y. Prices went up in ‘electricity, gas, steam and air conditioning’ (+6.3%), ‘coal and lignite’ (+61.7%), ‘repair and installation services of machinery and equipment’ (+9.6%) and ‘motor vehicles, trailers and semi-trailers’ (+3.1%). Increasing were prices in ‘crude petroleum and natural gas’ (+43.8%). Prices went down in ‘basic metals’ (-12.6%), ‘food products’ (-4.1%), ‘wood and of products of wood and cork’ (-22.7%) and ‘paper and paper products’ (-14.9%). On the decrease were also prices in ‘coke, refined petroleum products’. Among the main industrial groupings, prices of ‘energy’ (+6.7%) and ‘capital goods’ (+4.3%) rose primarily, y-o-y. On the decrease were only prices of ‘intermediate goods’ (-4.8%). Prices of industrial producers excluding energy fell by 0.6% y-o-y (in November they went down by 0.9%).
Prices of industrial producers increased on average by 5.0% in 2023 y-o-y (+24.3% in 2022). Prices rose in ‘electricity, gas, steam and air conditioning’ (+15.8%), ‘coal and lignite’ (+71.2%), ‘crude petroleum and natural gas’ (+42.3%) and ‘food products’ (+8.6%). Lower were prices particularly in ‘coke, refined petroleum products’. On the decrease were prices in ‘basic metals’ (-9.4%), ‘chemicals and chemical products’ (-9.0%) and ‘wood and of products of wood and cork’ (-12.7%).
According to the estimate, construction work prices rose by 0.1% and prices of construction material and products input went down by 0.1% m-o-m. According to the estimate, y-o-y construction work prices rose by 2.6% (+3.3% in November) and prices for construction material and products input grew by 0.1% (-0.5% in November).
Construction work prices, according to the estimate, grew by 6.0% on average for the whole year 2023 compared to 2022 (+12.4% in 2022 after updating). Prices of construction material and products input increased by 3.8% on average for the whole year 2023 (+20.7% in 2022).
Service producer prices in the business sphere remained unchanged m-o-m. Prices for ‘land transport services’ (-0.6%) and ‘advertising and market research services’ (-0.7%) fell. Prices for ‘computer programming, consultancy and related services’ (+0.3%) and ‘employment services’ (+1.1%) rose. Service producer prices in the business sphere, excluding advertising services were also unchanged. Service producer prices in the business sphere went up by 4.4% y-o‑y (+5.0% in November). Prices for ‘postal and courier services’ (+11.0%), ‘information services’ (+9.9%), ‘employment services’ (+8.8%), ‘publishing services’ (+5.6%) and ‘advertising and market research services’ (+5.0%) rose. Service producer prices in the business sphere, excluding advertising services, were higher by 4.4% (+5.1% in November).
Compared to 2022, on average for the whole year 2023, service producer prices in the business sphere increased by 5.6% (+5.8% in 2022). Prices were higher for ‘employment services’ (+22.1%), ‘information services’ (+12.1%), ‘postal and courier services’ (+10.0%), ‘computer programming, consultancy and related services’ (+8.2%), ‘real estate services’ (+6.5%), ‘legal and accounting services‘ (+5.0%), ‘land transport services’ (+4.2%) and ‘advertising and market research services’ (+3.7%). Service producer prices in the business sphere, excluding advertising services, increased by 5.7% (+5.1% in 2022).
Industrial producer prices in the EU – November 2023 (preliminary data)
According to the Eurostat News Releases, industrial producer prices decreased in November by 0.2% (in October they rose by 0.2%) in EU27, m-o-m. The largest monthly decreases were recorded in Slovakia (-3.0%), Portugal (-2.3%) and Spain (-2.1%). Prices were lower in Poland
(-0.8%), Germany (-0.5%) and Czechia (-0.4%) and higher in Austria (+0.4%). The highest increases were observed in Sweden (+4.1%) and France (+2.4%). Industrial producer prices fell in November by 8.1% (in October they went down by 8.7%) in EU27, y-o-y. The largest decreases were recorded in Belgium (-18.7%), Italy (-16.3%) and Latvia (-15.3%). Prices were lower in Germany (-7.9%), Austria (-4.2%) and Poland (-3.9%). The highest increases were observed in Luxembourg (+20.4%), Slovakia (+10.9%) and Slovenia (+2.9%). Prices also rose in Czechia (+0.8%).
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Information on the revision of the market services price index 2021
A revision of the calculation of the market services price index is currently under preparation, changing the original weighting structure derived from 2015 domestic sales to a new weighting structure corresponding to 2021 domestic sales. There will be a slight change in the weights and a number of changes in the selection of respondents and representatives.
The price indices for market services will be calculated to the new price base average of 2021 = 100 on new weights based on the 2021 sales structure. The indices calculated in this way will be chained to the indices on the base of 2015 average = 100, to ensure the continuity of the existing time series.
The following aggregations will be from the monitoring and publishing
excluded
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K641 Monetary intermediation
-
K649 Other financial services, except insurance and pension funding
included
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J59 Motion picture, video and television programme production, sound recording and music publishing activities
-
J60 Programming and broadcasting activities
The publication of price indices for January 2024 will be postponed to 28 February 2024 in accordance with the Catalogue of Products 2024.
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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: 28 February 2024
Related analysis: Producer price indices - 4. quarter of 2023
Attachments
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Annexes:
- year 2024 | March 2024 | February 2024 | January 2024
- year 2023 | December 2023 | November 2023 | October 2023 | September 2023 | August 2023 | July 2023 | June 2023 | May 2023 | April 2023 | March 2023 | February 2023 | January 2023
- year 2022 | December 2022 | November 2022 | October 2022 | September 2022 | August 2022 | July 2022 | June 2022 | May 2022 | April 2022 | March 2022 | February 2022 | January 2022
- year 2021 | December 2021 | November 2021 | October 2021 | September 2021 | August 2021 | July 2021 | June 2021 | May 2021 | April 2021 | March 2021 | February 2021 | January 2021
- year 2020 | December 2020 | November 2020 | October 2020 | September 2020 | August 2020 | July 2020 | June 2020 | May 2020 | April 2020 | March 2020 | February 2020 | January 2020
- year 2019 | December 2019 | November 2019 | October 2019 | September 2019 | August 2019 | July 2019 | June 2019 | May 2019 | April 2019 | March 2019 | February 2019 | January 2019
- year 2018 | December 2018 | November 2018 | October 2018 | September 2018 | August 2018 | July 2018 | June 2018 | May 2018 | April 2018 | March 2018 | February 2018 | January 2018
- year 2017 | December 2017 | November 2017 | October 2017 | September 2017 | August 2017 | July 2017 | June 2017 | May 2017 | April 2017 | March 2017 | February 2017 | January 2017
- year 2016 | December 2016 | November 2016 | October 2016 | September 2016 | August 2016 | July 2016 | June 2016 | May 2016 | April 2016 | March 2016 | February 2016 | January 2016
- year 2015 | December 2015 | November 2015 | October 2015 | September 2015 | August 2015 | July 2015 | June 2015 | May 2015 | April 2015 | March 2015 | February 2015 | January 2015
- year 2014 | December 2014 | November 2014 | October 2014 | September 2014 | August 2014 | July 2014 | June 2014 | May 2014 | April 2014 | March 2014 | February 2014 | January 2014
- year 2013 | December 2013 | November 2013 | October 2013 | September 2013 | August 2013 | July 2013 | June 2013 | May 2013 | April 2013 | March 2013 | February 2013 | January 2013
- year 2012 | December 2012 | November 2012 | October 2012 | September 2012 | August 2012 | July 2012 | June 2012 | May 2012 | April 2012 | March 2012 | February 2012 | January 2012
- year 2011 | December 2011 | November 2011 | October 2011 | September 2011 | August 2011 | July 2011 | June 2011 | May 2011 | April 2011 | March 2011 | February 2011 | January 2011
- year 2010 | December 2010 | November 2010 | October 2010 | September 2010 | August 2010 | July 2010 | June 2010 | May 2010 | April 2010 | March 2010 | February 2010 | January 2010
Published: 17.01.2024
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