Producer price indices - June 2018

In June 2018 compared with the previous month, agricultural producer prices (+0.3%), industrial producer prices (+0.6%) and construction work prices (+0.5%) all went up. Prices of market services for businesses went down by 0.1%. In comparison to June 2017, agricultural producer prices went down by 4.2%. Industrial producer prices (+2.9%), construction work prices (+2.8%) and prices of market services for businesses (+1.8%) were all higher.

Month-on-month comparison:

Agricultural producer prices increased by 0.3%. Prices of fresh vegetables (+5.5%), cereals (+0.3%) and oil plants (+0.2%) went up. On the decrease were prices of eggs (-4.4%), potatoes (-2.4%), milk (-1.9%), poultry (-1.2%) and pigs for slaughter (-0.5%).

Prices of industrial producers went up by 0.6%. Prices increased particularly in ‘coke, refined petroleum products’. Prices were higher in ‘chemicals and chemical products’ (+2.7%), ‘electricity, gas, steam and air conditioning’ (+0.6%), thereof ‘electricity, transmission and distribution services’ (+1.1%). Prices went up in ‘food products, beverages, tobacco’ (+0.3%), thereof ‘dairy products’ (+1.5%) and ‘beverages’ (+0.3%).

According to an estimate, construction work prices increased by 0.5% and construction material input prices grew by 0.2%.

Prices of market services for businesses fell by 0.1%. On the decrease were prices of ‘warehousing and support services for transportation’ (-0.3%), ‘architectural and engineering services’ (-0.6%), ‘employment services’ (-1.4%) and ‘advertising and market research services’ (-2.2%). On the increase were prices of ‘insurance, reinsurance and pension funding services, except compulsory social security’ by 2.0%. Prices of market services for businesses excluding advertising services stayed unchanged.

Year-on-year comparison:

Agricultural producer prices were lower by 4.2% (like in May). Prices of crop products dropped by 2.8% due to decreasing prices of oil plants (-14.1%) and potatoes (-7.4%). Higher were prices of fruit (+21.1%), fresh vegetables (+19.4%) and cereals (+1.9%). Prices of animal products went down by 5.8%. Lower were prices of pigs for slaughter (-23.5%), eggs (-6.5%) and milk (-1.4%). Prices of poultry (+0.4%) and cattle for slaughter (+1.8%) went up.

Prices of industrial producers increased by 2.9% (+1.5% in May). It is the highest increase for the last 14 months. Prices went up primarily in ‘coke, refined petroleum products’. Prices were higher in ‘mining and quarrying’ (+8.0%), ‘basic metals, fabricated metal products’ (+3.5%) and ‘electricity, gas, steam and air conditioning’ (+2.3%). Prices went down in ‘transport equipment’ (-1.3%), thereof ‘parts and accessories for motor vehicles’ (-2.4%). Prices fell in ‘food products, beverages, tobacco’ (-0.6%), thereof ‘preserved meat and meat products’ (-4.7%) and ‘other food products’ (-5.1%).

Among the main industrial groupings, prices of ‘energy’ (+9.4%) increased the most, year-on-year.

According to an estimate, construction work prices rose by 2.8% (+2.4% in May) and construction material input prices grew by 3.6% (+3.1% in May).

Prices of market services for businesses were higher by 1.8% (like in May). Increasing were prices in ‘employment services’ (+13.2%), ‘security and investigation services’ (+9.9%) and ‘insurance services’ (+5.4%). On the increase were also prices of ‘real estate services’ (+3.0%), ‘architectural and engineering services’ and ‘publishing services’ (+2.7%) and ‘advertising and market research services’ (+2.5%). Lower were prices of ‘warehousing and support services for transportation’ by 2.1%. Prices of market services for businesses excluding advertising services increased by 1.9% (+2.0% in May).

Industrial producer prices in the EU – May 2018 (preliminary data)

According to the Eurostat News Releases, industrial producer prices increased in May by 1.0% (+0.1% in April) in EU28, month-on-month. The highest increase in industrial producer prices was recorded in Greece (+2.4%). Prices rose in Poland (+1.2%), the Czech Republic (+1.0%), Austria (+0.7%), Germany (+0.4%) and Slovakia (+0.1%). Decreases were observed only in Ireland (-0.5%) and Latvia (-0.3%).

Industrial producer prices were higher in May by 3.6% (+2.3% in April) in EU28, year-on-year.

The highest increase in prices was recorded in the United Kingdom (+6.7%). Prices increased in Slovakia (+4.7%), Poland (+3.6%), Austria (+3.1%), Germany (+2.6%) and the Czech Republic (+1.5%). Prices decreased only in Ireland (-2.7%) and Luxembourg (-0.5%).

____________________
Notes:
Responsible manager of the CZSO: Jiri Mrazek, Department Director, phone (+420) 274 052 533,
e-mail: jiri.mrazek@czso.cz
Contact: Hana Sykorova, phone (+420) 274 054 101, e-mail: hana.sykorova@czso.cz
Miloslav Beranek, phone (+420) 274 052 665,
e-mail: miloslav.beranek@czso.cz
Data source: CZSO 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
Market services price indices (business to business): 20th calendar day of reference month / 9th calendar day of the following month
Except for the construction work price indices, the published data are finalised. Estimates of the construction work price indices are carrying out on the 9th calendar day of the following day. Construction work price indices are updated using the finished quarterly survey and the finalised data are released on the 46th calendar day of the following quarter.
Related publications: 011041 - 18 Price Indices of Constructions Works, Price Indices of Constructions and Indices of Construction Costs
011044 - 18 Industrial Producer Price Indices
011045 - 18 Agricultural Producer Price Indices
011046 - 18 Market Services Price Indices in the Business Sphere
Internet: https://www.czso.cz/csu/czso/producer-prices-publications
Next News Release: 16 August 2018

Text not edited for language.

Related analysis: Producer price indices - 2. quarter of 2018

Attachments

⇩ aipc071918.docx
Annexes:
⇩ Table 1 Producer Price Indices
⇩ Table 2 Industrial Producer Price Index by Main Industrial Groupings
⇩ Table 3 Industrial Producer Price Index (breakdown of the growth - month-on-month, year-on-year)
⇩ Chart 1 Industrial Producer Price Indices (year-on-year changes, changes on base year 2015)
⇩ Chart 2 Construction Output Price Indices (year-on-year changes, changes on base year 2015)
⇩ Chart 3 Price Indices of Market Services for Businesses (year-on-year changes, changes on base year 2015)
⇩ Chart 4 Agricultural Producer Price Indices (year-on-year changes, changes on base year 2015)
⇩ Chart 5 Industrial Producer Price Indices – International Comparison (changes on base year 2015)