March 20, 2023
Agricultural producer prices in Czech Republic fell by 0.7% month-on-month (m-o-m) and rose by 22.2% year-on-year (y-o-y). Industrial producer prices went down m-o-m (-0.3%) and went up y-o-y (+16.0%). Construction work prices were higher m-o-m (+0.6%) and y-o-y (+10.4%). Service producer prices in the business sphere increased m-o-m (+1.1%) and grew y-o-y (+5.6%).
“A year-on-year increase of prices of all producers decelerated in February. Prices of agriculture producers increased by 22.2%, year-on-year, and prices of industrial producers by 16.0%. Construction work prices, according to an estimate, grew by 10.4%, year-on-year, and service producer prices in the business sphere were higher by 5.6%,” noted Vladimir Klimes, head of Industrial and International Trade Prices Statistics Unit of CZSO.
Agricultural producer prices were lower by 0.7% m-o-m. Decreasing were prices of milk (-0.9%), oleaginous crops (-3.3%) and cereals (-4.2%). Prices of pigs for slaughter (+0.9%), poultry (+1.7%), eggs (+3.9%) and vegetables (+6.8%) went up. Y-o-y agricultural producer prices rose by 22.2% (in January they rose by 25.5%). Prices in the crop production grew by 12.1%. On the increase were prices of vegetables (+44.6%), potatoes (+42.7%) and cereals (+17.8%). Prices of fruit (-8.5%) and oleaginous crops (-5.6%) went down. Prices in animal products soared by 37.2%. On the increase were prices of eggs (+85.6%), pigs for slaughter (+54.9%), poultry (+35.7%), milk (+33.4%) and cattle for slaughter (+16.9%).
Prices of industrial producers went down by 0.3% m-o-m. Prices fell in ‘electricity, gas, steam and air conditioning’ (-2.1%), thereof ‘electricity, transmission and distribution services’ (-2.6%). Prices decreased significantly in ‘coke, refined petroleum products’. Lower were prices in ‘wood and products of wood and cork’ (-5.2%), ‘basic metals’ (-1.9%) and ‘paper and paper products’ (-1.6%). Higher were prices in ‘other non-metallic mineral products’ (+3.2%), ‘fabricated metal products’ (+1.9%) and ‘beverages’ (+2.8%). On the increase were also prices in ‘food products’ (+0.4%). Prices of industrial producers increased by 16.0% (in January they grew by 19.0%), y-o-y. Prices rose in ‘electricity, gas, steam and air conditioning’ (+28.5%), ‘food products’ (+27.0%), ‘other non-metallic mineral products’ (+25.3%) and ‘coal and lignite’ (+81.1%). Among the main industrial groupings, higher were particularly prices of ‘energy’ (+25.7%) and ‘non-durable consumer goods’ (+21.2%), y-o-y. Prices of industrial producers excluding energy rose by 12.4% y-o-y (in January they soared by 13.3%).
According to an estimate, construction work prices rose by 0.6% and prices of construction material and products input went up by 0.9% m-o-m. According to an estimate, y-o-y construction work prices soared by 10.4% (in January they increased by 11.4%) and prices for construction material and products input grew by 13.8% (in January they were higher by 14.3%).
Service producer prices in the business sphere grew by 1.1% m-o-m due to price increases in ‘advertising and market research services’ (+11.7%), ‘postal and courier services’ (+3.8%), ‘employment services’ (+3.7%) and ‘real estate services’ (+1.6%). Decreasing were prices of ‘computer programming, consultancy and related services’ by 0.3%. Service producer prices in the business sphere, excluding advertising services soared by 0.5%. Service producer prices in the business sphere went up by 5.6% y-o-y (in January they rose by 6.3%). Prices for ‘employment services’ (+23.0%), ‘postal and courier services’ (+8.5%), ‘computer programming, consultancy and related services’ (+8.4%), ‘advertising and market research services’ (+5.5%), ‘real estate services’ (+5.4%) and ‘land transport services’ (+4.1%) rose. Service producer prices in the business sphere, excluding advertising services, were higher by 5.7% (in January they increased by 6.3%).
Industrial producer prices in the EU – January 2023 (preliminary data)
According to the Eurostat News Releases, industrial producer prices decreased in January by 2.2% (in December they rose by 1.2%) in EU27, m-o-m. The largest decreases were recorded in Ireland (-25.2%), Sweden (-8.0%) and Latvia (-5.8%). Prices were lower in Germany (-1.2%). The highest increases were observed in Slovakia (+9.0%), Czechia and Hungary (+5.8% both) and Austria (+4.9%). Prices were higher in Poland (+2.8%).
Industrial producer prices rose in January by 16.4% (in December they grew by 25.2%) in EU27, y-o-y. The highest increases were recorded in Hungary (+64.6%), Latvia (+38.8%) and Slovakia (+34.5%). Prices were higher in Poland (+26.7%), Austria (+21.3%), Czechia (+19.0%) and Germany (+18.3%).
Source: Czech Statistical Office
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