Consumer price indices - inflation - March 2010

Prices of automotive fuel continued to grow

09.04.2010
Code: r-7101-10
 




The total consumer price level in March increased compared with February by 0.3 %. This development came primarily from a price rise in 'food and non-alcoholic beverages' and 'transport'. In March the growth of consumer prices accelerated moderately to 0.7 %, y-o-y, (from 0.6 % in February).


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The month-on-month consumer price growth was influenced by a price rise in 'food and non-alcoholic beverages' due mainly to an increase in prices of vegetables incl. potatoes and fruit (10.4 % and 2.3 %, respectively). In 'transport', prices of automotive fuel went up by 2.5 %. In March, prices of petrol Natural 95 were the highest since August 2008, prices of diesel oil since October 2008. Prices of clothing rose by 0.6 % and footwear by 1.2 % due to new spring models on the market.

A downward effect on the price level came from a price drop in 'recreation and culture', in which prices of package holidays went down by 3.3 % due to the end of winter season. Lower than in the previous month were also prices of some food. Prices of yoghurts decreased by 1.5 %, butter by 2.0 %, sugar by 2.7 % and coffee by 1.0 %.

Prices of goods in total increased by 0.4 % and prices of services dropped by 0.2 %.

In terms of the year-on-year comparison, in March 2010, the increase in consumer prices was 0.7 % (0.6 % in February). A moderate acceleration of the price growth came particularly from price development in 'food and non-alcoholic beverages' due to a slowdown in their y-o-y drop. The price growth of alcoholic beverages decelerated to 4.5 % (from 5.4 % in February) and tobacco products to 1.7 % (from 2.7 % in February).

A dominant upward effect on the price level came from prices of automotive fuel, which were higher by 21.7 %. In 'housing, water, electricity, gas and other fuels', the net actual rentals went up by 10.7 %, of which for dwellings with regulated rentals by 18.4 % and for dwellings with market rentals by 1.3 %. Prices of water supply were higher by 4.1 % and sewerage collection by 4.6 %. Prices in 'restaurants and hotels' rose (2.6 % and 1.9 %, respectively).

The reduction of price level came, as before, (yet with smaller intensity) from 'food and non-alcoholic beverages', in which prices of bread were lower by 9.6 %, rolls and baguettes by 22.6 %, flour by 16.0 %, edible oils by 10.0 %, fruit by 4.8 % and sugar by 10.4 %. In 'clothing and footwear', prices of clothing were lower by 3.8 %. In 'housing, water, electricity, gas and other fuels', prices of natural gas and electricity went down (-12.3 % and -2.7 %, respectively). In 'recreation and culture', prices of audiovisual and photographic equipment and data-processing equipment were lower by 7.8 %. In 'communications', prices of mobile phones decreased and so did prices of telephone and telefax services due to discounts provided by mobile operators (-12.0 % and -2.5 %, respectively).

Prices of goods in total dropped by 0.5 %, while prices of services were higher by 2.2 %. The overall consumer price index excluding imputed rentals was 100.4 %, year-on-year.

Average inflation rate, i.e. the increase in the average consumer price index in the twelve months to March 2010 compared with the average CPI in the previous twelve months, stood at 0.7 % in March, which is 0.1 percentage point down compared with February 2010.

According to preliminary data of Eurostat, the year-on-year increase in the average harmonized index of consumer prices (HICP) in the EU27 member states was 1.4 % in February 2010 (0.3 percentage point down on January). The highest annual rates were observed in Hungary (5.6 %) and Romania (4.5 %). A year-on-year drop was recorded for five EU member states. The biggest decrease was reported for Latvia (-4.3 %). In Germany, the y-o-y growth slowed down to 0.5 % (from 0.8 % in January). In Slovakia, the price drop was 0.2 % in February (the same as in January). According to preliminary calculations, the HICP in the Czech Republic in March increased by 0.2 %, month-on-month, and by 0.4 % (for the third month), year-on-year. The MUICP (Monetary Union Index of Consumer Prices) flash estimate for the Eurozone in March 2010 was 1.5 %, y-o-y, as Eurostat announced (more information on the Eurostat's web pages: HICP) .

Starting from January 2010, the consumer price indices are calculated with revised weights. The weights are based on expenditure of households 2008. Calculated indices are chained on all levels of consumer basket with the base period 2005 = 100. So, a continuation of the existing index time series 2005 = 100, from which indices to other bases are derived (previous month = 100, corresponding period of last year = 100 and annual rolling average, i.e. average of index numbers over last 12 months to the average for previous 12 months) is ensured.

Analysis - Consumer price indices in Q1 2010


Note
Contact: Pavla Sediva, phone (+420) 274052138, e-mail: pavla.sediva@czso.cz
Data source: CZSO survey
End of data collection: 20th day of the reference month
End of data processing: 3rd day of the month that follows the reference month
Related publications: 7101-10 Consumer Price Indices – Basic Breakdown (periodicity: monthly)
7103-10 Consumer Price Indices – Detailed Breakdown (periodicity: annually)
Documents available on the CZSO website: 7103-10 Consumer Price Indices – Detailed breakdown (periodicity: monthly)
( /csu/czso/2-ep-7 )



  • aisc040910.doc

  • Annexes:
  • Table 1 Consumer prices (indices, inflation rate)
  • Table 2 Consumer prices (decomposition of increase – month-on-month, core inflation)
  • Table 3 Consumer prices (decomposition of increases – month-on-month, year-on-year)
  • Table 4 Consumer prices (social groups of households - indices, inflation rate)
  • Table 5 Consumer prices (analytical table, effect of price changes of selected product groups)
  • Graph 1 Consumer prices (year-on-year changes, changes on base year)
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Published: 09.04.2010
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