October 22, 2022
Agricultural producer prices in Czech Republic fell by 1.3% month-on-month (m-o-m) and grew by 33.6% year-on-year (y-o-y). Industrial producer prices went up m-o-m by 1.2% and were higher y-o-y by 25.8%. Construction work prices went up m-o-m (+0.3%) and y-o-y (+13.1%). Service producer prices in the business sphere went up m-o-m (+1.5%) and rose y-o-y (+6.8%).
“The year-on-year growth of prices for all producers continued in September again. Prices of agriculture producers increased more than by 33%, year-on-year, and prices of industrial producers industry almost by 26 %. Construction work prices, according to an estimate, grew more than by 13%, year-on-year, and service producer prices in the business sphere were higher almost by 7 %,” noted Jiří Šulc, Head of Agricultural, Construction, and Services Prices Statistics Unit of CZSO.
Agricultural producer prices were lower by 1.3% m-o-m. Decreasing were prices of forage plants (-9.5%), fruit (-0.6%) and cereals (-0.1%). Prices of potatoes (+34.7%), pigs for slaughter (+8.7%), eggs (+7.0%), milk (+2.2%) and cattle for slaughter (+0.3%) increased. Y-o-y agricultural producer prices went up by 33.6% (in August they rose by 38.3%). Prices in the crop production grew by 34.0%. On the increase were prices of cereals (+51.8%), oleaginous crops (+37.3%), potatoes (+31.5%) and fresh vegetables (+17.1%). Prices of fruit went down by 3.7%. Prices in animal products soared by 33.0%. On the increase were prices of pigs for slaughter (+43.2%), eggs (+36.5%), milk (+32.3%), poultry (+29.7%) and cattle for slaughter (+25.5%).
Prices of industrial producers increased by 1.2%, m-o-m., due to the price increasing in ‘electricity, gas, steam and air conditioning’ (+6.7%), thereof ‘electricity, transmission and distribution services’ (+8.8%). Prices went up in ‘mining and quarrying’ (+2.1%) and ‘food products, beverages, tobacco’ (+1.1%), thereof ‘bakery and farinaceous products’ (+1.8%), ‘dairy products’ (+1.7%) and ‘preserved meat and meat products’ (+1.6%). On the decrease were prices in ‘coke, refined petroleum products’. Lower were also prices in ‘chemicals and chemical products’ (-3.6%). Prices of industrial producers were higher by 25.8% (in August they rose by 25.2%), y-o-y. Prices rose primarily in ‘electricity, gas, steam and air conditioning’ (+64.0%), thereof ‘electricity, transmission and distribution services’ (+79.0%). Higher were also prices in ‘coke, refined petroleum products’. Prices went up in ‘chemicals and chemical products’ (+31.7%), ‘mining and quarrying’ (+31.3%) and ‘rubber and plastic products, other non-metallic mineral products’ (+21.9%). Prices grew in ‘food products, beverages, tobacco’ (+23.9%), thereof ‘grain mill products, starches and starch products’ (+59.7%).
Among the main industrial groupings, higher were primarily prices of ‘energy’ (+57.3%), ‘non-durable consumer goods’ (+21.1%) and ‘intermediate goods’ (+20.1%), y-o-y. Prices of industrial producers excluding energy rose by 15.8% (in August they rose by 16.4%).
According to an estimate, construction work prices rose by 0.3% and prices of construction material and products input went up by 0.2% m-o-m. According to an estimate, y-o-y construction work prices soared by 13.1% (in August they increased by 13.4%) and prices for construction material and products input grew by 18.3% (in August they increased by 19.1%).
Service producer prices in the business sphere rose by 1.5% m-o-m due to price increases in ‘advertising and market research services’ (+18.0%). Prices of ‘employment services’ (+2.0%), ‘computer programming, consultancy and related services’ (+1.1%) and ‘telecommunications services’ (+0.7%) grew. Service producer prices in the business sphere, excluding advertising services soared by 0.4%. Service producer prices in the business sphere went up by 6.8% y-o-y (in August they rose by 6.5%). Prices for ‘advertising and market research services’ (+23.0%), ‘employment services’ (+17.0%) and ‘warehousing and support services for transportation’ (+15.6%) grew. Service producer prices in the business sphere, excluding advertising services, were higher by 5.9% (in August they increased by 5.8%).
Industrial producer prices in the EU – August 2022 (preliminary data)
According to the Eurostat News Releases, industrial producer prices increased in August by 4.9% (in July they rose by 3.7%) in EU27, m-o-m. The highest increase was recorded in Ireland (+28.4%). Prices went up in Germany (+8.0%), Slovakia (+7.0%), Austria (+2.5%) and Poland (+1.5%). Prices decreased only in Luxembourg (-1.8%), Portugal (-0.6%) and Czechia (-0.1%).
Industrial producer prices rose in August by 43.0% (in July they grew by 37.9%) in EU27, y-o-y. Prices were higher in all Member States, the most in Ireland (+97.4%), Romania (+70.9%) and Bulgaria (+68.3%). Prices went up in Slovakia (+51.8%), Germany (+46.9%), Poland (+34.5%), Austria (+30.4%), Czechia (+25.2%).
Source: Czech Statistical Office
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