Consumer price indices - inflation - April 2015

Consumer price indices – April 2015

12.05.2015
Code: 012024-15
 

Consumer prices in April rose compared with March by 0.3%. This development was due to the growth of prices in 'clothing and footwear', 'transport' and 'food and non-alcoholic beverages' in particular. The year-on-year increase in consumer prices in April went up by 0.5%, which was by 0.3 percentage point more than in March.

The month-on-month increase in consumer prices in 'clothing and footwear' came from the seasonal rise in prices of garments and shoes and other footwear (3.2% and 7.4%, respectively). In 'transport', the growth of fuel prices continued for the second month, which amounted to 1.6% in April. The increase in prices in 'food and non-alcoholic beverages' caused primarily the rise in prices of vegetables and fruit (7.9% and 3.2%, respectively). Prices of rolls and baguettes went up by 1.5%, rice by 2.5%, edible oils by 4.3%, honey by 2.8%, salt and spice by 3.8%. For most other kinds of food prices rather decreased. In 'health', prices of pharmaceutical products increased by 1.0%. In 'miscellaneous goods and services', prices of personal care rose by 0.6%.

A contrary effect on the overall consumer price level in April owed especially to a price drop in 'recreation and culture' due to the reduction of package holiday prices (-0.4%) and information processing equipment (-0.7%). In food, prices of bread went down (-1.2%) as well as prices of pasta (-3.9%), poultry (-3.1%), eggs (-3.7%), milk (-1.1%), butter (-1.9%), sugar (-1.9%), chocolate and chocolate-based products (-3.0%), non-alcoholic beverages (-1.3%).

Prices of goods in total rose by 0.6% and prices of services by 0.1%.

In terms of the year-on-year comparison, in April, the consumer price level rose by 0.5%, i.e. by 0.3 percentage point more than in March. An acceleration in the y-o-y price growth occurred mainly in 'alcoholic beverages and tobacco', where prices of alcoholic beverages were higher by 2.5% (a drop -0.1% in March). In 'furnishings, household equipment and routine household maintenance', prices moved from a decline (-0.2%) in March to a growth by 0.3% in April primarily due to prices of furnishings and household equipment, which were higher by 0.6% in April (a drop -0.2% in March).  A slowdown in the y-o-y price drop was recorded for the three divisions of the consumer basket. It mitigated its reducing impact on the price level. This was due to prices in 'food and non-alcoholic beverages', which fell by 0.7% in April (-1.9% in March). Prices of fruit were lower by 1.3% (-5.2% in March), prices of sugar by 15.6% (-17.3% in March). Vegetable prices turned to a growth of 3.8% in April from a drop (-6.7%) in March. In 'transport', a slowdown in the price decrease was shown due to a deceleration in the decline in fuel prices (-11.1%) in April from -12.7% in March. In 'health', the price drop slowed down in April due to the increase in prices of stays at spas by 8.6% from 7.1% in March.

The biggest influence on the growth of the price level in April came from prices in 'alcoholic beverages and tobacco' due to the increase in prices of cigarettes by 8.5%. The second in order of influence were prices in 'housing, water, electricity, gas and other fuels', where prices of natural gas rose by 4.5%, water supply by 3.4%, sewage collection by 2.8%, the net actual rentals by 1.4%, heat and hot water by 1.8%. Prices of electricity were lower (-0.3%), y-o-y. In 'miscellaneous goods and services', prices of insurance and financial services rose (1.6% and 7.1%, respectively). In 'clothing and footwear', prices of garments and shoes and other footwear were higher (2.0% and 8.9%, respectively). In 'recreation and culture', prices of package holidays went up by 4.8%.

A reduction in the y-o-y price level came, as before (although less intensely), from the price drop in 'transport', 'food and non-alcoholic beverages', 'health' and 'communication'.

Prices of goods in total rose by 0.5% and prices of services by 0.7%. The overall consumer price index excluding imputed rentals was 100.6%, year-on-year.

Inflation rate, i.e. the increase in the average consumer price index in the twelve months to April 2015 compared with the average CPI in the previous twelve months, amounted to 0.4% in April.

According to preliminary data of Eurostat, the year-on-year change in the average harmonized index of consumer prices (HICP)1) in the EU28 member states was -0.1% in March i.e. 0.2 percentage point more than in February. Prices went up in ten EU countries, of which the most in Austria by 0.9% and in Romania by 0.8%. On the other hand, the largest price decline occurred in Greece (-1.9%). In Slovakia, prices dropped by 0.4% (-0.6% in February). In Germany, prices went up by 0.1% (a drop -0.1% in February). According to preliminary calculations, the HICP in the Czech Republic in April increased by 0.4%, month-on-month, and by 0.5% (0.1% in March), year-on-year. The MUICP (Monetary Union Index of Consumer Prices) flash estimate for the Eurozone in April 2015 amounted to 0.0%, y-o-y, as Eurostat announced (more information on the Eurostat’s web pages: HICP).

1) So far, imputed rentals have been excluded from the HICP

Notes:
Responsible manager of the CZSO: Jiri Mrazek, Department Director, email:jiri.mrazek@czso.cz
Contact: Pavla Sediva, phone (+420) 274052138, email: pavla.sediva@czso.cz
Method of data collection: Direct field survey of prices, centrally surveyed prices and reporting
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: 012018-15 Consumer Price Indices – Basic Breakdown (periodicity: monthly) and 012019-15 Consumer Price Indices – Detailed Breakdown (periodicity: annually)
Related documents available on the CZSO website:   012023-15 Consumer Price Indices – Detailed Breakdown (periodicity: monthly)
https://www.czso.cz/csu/czso/inflation-consumer-prices
Next News Release: 9 June 2015

Not edited for language.

 

  •      aisc051215.docx
  • 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, specific consumer price indices)
  • Graph 1 Consumer prices (year-on-year changes, changes on base year)
  • Graph 2 HICP – monthly data (2005 = 100)
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Published: 12.05.2015
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