Consumer price indices - inflation - May 2021
Year-on-year price growth slowed down
Consumer prices in May increased by 0.2% compared with April. This development came primarily from price rise in 'transport'. The year-on-year growth of consumer prices amounted to 2.9% in May, which was 0.2 percentage points down on April.
Month-on-month comparison
Price increase in 'transport' came mainly from higher prices of automotive fuels and lubricants by 1.3% and motor cars by 0.4%. In 'miscellaneous goods and services', prices of goods and services for personal care increased by 1.1%. In food, mainly prices of fruit were higher by 4.5%, potatoes by 6.4% and poultry by 2.0%.
Decrease in overall consumer price level in May was influenced mainly by price drop in 'food and non-alcoholic beverages'. Prices of vegetables were lower by 5.4%, non-alcoholic beverages by 2.2%, pork by 3.2%, smoked meat and sausages by 0.9%, eggs by 4.0%, sugar by 5.0% and butter by 3.2%.
Consumer prices increased by 2.9% in May, i.e. 0.2 percentage points down on April. In 'food and non-alcoholic beverages', many food products deepened their price decrease. Prices of pork were lower by 10.0% in May (decrease by 7.2% in April), eggs by 8.9% (decrease by 1.1% in April), fruit by 4.0% (decrease by 1.1% in April) and vegetables by 7.4% (decrease by 3.4% in April). Prices of sugar turned from increase by 4.5% in April into drop by 1.9% in May. In 'alcoholic beverages, tobacco', price rise of spirits decelerated to 2.2% (increase by 5.1% in April), beer to 4.1% (increase by 8.5% in April) and tobacco products to 15.4% (increase by 19.5% in April). On the other hand, in 'housing, water, electricity, gas and other fuels’, price rise of water supply and sewage collection identically accelerated to 5.5% in May (increase by 1.9% and 2.3%, respectively in April) mainly due to their month-on-month decrease in May 2020.
The biggest influence on the growth of the year-on-year price level in May came from prices in 'transport', where prices of motor cars went up by 6.9% and automotive fuels and lubricants by 22.0%. Next in the order of influence were prices in 'alcoholic beverages and tobacco' (increase by 9.8%). In 'housing, water, electricity, gas and other fuels’, prices of actual rentals for housing increased by 1.8%. Prices of electricity decreased by 3.4% and natural gas by 4.7%. In 'miscellaneous goods and services', prices of financial services were higher by 8.8%. A reduction in the overall price level in May came from prices in 'food and non-alcoholic beverages' (decrease by 1.3%) and prices in 'communication' (decrease by 0.5%).
Prices of goods in total and services went up (2.7% and 3.1%, respectively). The overall consumer price index excluding imputed rentals for housing was 102.8%, year-on-year.
According to preliminary calculations, the HICP in Czechia in May went up by 0.1%, month-on-month and 2.7%, year-on-year. According to flash estimates of Eurostat, the MUICP (Monetary Union Index of Consumer Prices) in May 2021 amounted to 2.0% year-on-year (1.6% in April). In Slovakia, prices were higher by 2.1% in May and in Germany by 2.4%, year-on-year. According to preliminary data of Eurostat, the year-on-year change in the average harmonized index of consumer prices (HICP) in the EU27 member states amounted to 2.0% in April (0.3 percentage point up on March). The rise in prices was the highest in Hungary and Poland (5.2% and 5.1%, respectively). On the other hand, price reduction occurred in Greece (−1.1%) and in Portugal (−0.1%).
(More information on the Eurostat’s web pages: HICP.)
Methodological note to consumer price index in May 2021 (COVID-19)
1) Imputed rentals are excluded from the HICP.
Notes:
Responsible manager of the CZSO: Jiri Mrazek, Director of Price Statistics Department, phone (+420) 274052533, email: jiri.mrazek@czso.cz
Contact: Pavla Sediva, Head of the Consumer Price Statistics Unit, phone (+420) 274052138, email: pavla.sediva@czso.cz
Data source: 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: 012018-21 Consumer Price Indices – Basic Breakdown (periodicity: monthly), 012023-21 Consumer price Indices – Detailed Breakdown (periodicity: monthly) and 012019-21 Consumer Price Indices – Detailed Breakdown (periodicity: annually)
Internet: https://www.czso.cz/csu/czso/inflation-consumer-prices
Next News Release: 13 July 2021
Text not edited for language
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Published: 10.06.2021
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