16. 12. 2024 Producer price indices - November 2024

“In a year-on-year comparison, prices in agriculture accelerated their growth to 5.5% and prices in industry to 1.7%. Construction work prices were higher by 2.5% year-on-year and service producer prices in the business sphere by 3.7%,” noted Vladimir Klimes , head of Industrial and International Trade Prices Statistics Unit of CZSO.

Agricultural producer prices decreased by 2.0% m-o-m. Falling were prices of fruit (-3.2%), poultry (-2.9%), fresh vegetables (-0.9%) and pigs for slaughter (-0.2%). Increase was recorded for prices of eggs (+22.1%), oilseeds (+5.2%), milk (+4.0%), potatoes (+3.9%), cattle for slaughter (+2.7%) and cereals (+0.9%). Y-o-y, a gricultural producer prices grew by 5.5% (+2.4% in October). In crop production, prices went up by 3.2%. Rising were prices of oilseeds (+16.7%) and fruit (+25.0%), while prices of potatoes (-5.5%) and cereals (-0.4%) decreased. In animal production, prices went up by 9.6%. Prices increased for milk (+16.8%), cattle for slaughter (+14.8%) and eggs (+11.9%). Decrease occurred in prices of pigs for slaughter (-6.1%) and poultry (-3.7%).

Prices of industrial producers increased by 0.4% m-o-m. Prices rose in ‘electricity, gas, steam and air conditioning’ (+1.4%) and ‘motor vehicles, trailers and semi-trailers’ (+0.7%). Higher prices were recorded in ‘coke, refined petroleum products’. Prices went up in ‘food products’ (+0.3%), especially in ‘dairy products’ (+2.4%). Decreasing were prices in ‘other food products’ (-1.3%). Lower were prices in ‘basic metals’ and ‘beverages’ (-1.1% both) and ‘fabricated metal products, except machinery and equipment’ (-0.3%). Prices of industrial producers rose by 1.7% y-o-y (+0.8% in October). Prices went up in ‘electricity, gas, steam and air conditioning’ (+6.0%), ‘motor vehicles, trailers and semi trailers’ (+3.3%) and ‘repair and installation services of machinery and equipment’ (+4.6%). Prices rose in ‘food products’ (+1.0%), particularly in ‘dairy products’ (+10.1%). Lower were prices in ‘grain mill products, starches and starch products’ (-8.9%). Decreases were observed in ‘coke, refined petroleum products’. Prices were lower in ‘fabricated metal products, except machinery and equipment’ (-1.6%) and ‘coal and lignite’ (-4.6%). Among the main industrial groupings, prices of ‘capital goods’ (+3.2%), ‘energy’ (+2.4%) and ‘non-durable consumer goods’ (+1.8%) went up y-o-y. Prices of industrial producers excluding energy were higher by 1.4% (+1.1% in October).

Construction work prices, as estimated, increased by 0.3% and prices of materials and products used in construction were unchanged m-o-m. According to the estimate, construction work prices rose by 2.5% y-o-y (+2.3% in October). Prices of materials and products used in the construction were higher by 0.9% y-o-y (+0.8% in October).

Service producer prices in the business sphere decreased by 0.1% m-o-m. Prices went down for ‘advertising and market research services’ (-1.1%), ‘employment services’ (-1.0%), ‘services of head offices; management consulting services’ (-0.7%) and ‘programming and broadcasting services’ (-0.4%). Rising were prices of ‘motion picture, video and television programme production services, sound recording and music publishing’ (+4.7%), ‘real estate services’ and ‘land transport services’ (both +0.2%). Service producer prices in the business sphere, excluding advertising services remained unchanged. Service producer prices in the business sphere grew by 3.7% y-o-y (+ 3.6% in October) . Prices rose for ‘employment services’ (+15.5%), ‘advertising and market research services’ (+10.4%) and ‘real estate services’ (+7.6%). Prices of ‘land transport services’ were lower (-0.8%). S ervice producer prices in the business sphere, excluding advertising services, increased by 3.1% (+2.9% in October).

Industrial producer prices in the EU – October 2024 (preliminary data )

According to the Eurostat News Releases, industrial producer prices increased in October by 0.4% in EU27 (in September they went down by 0.6%), m-o-m. The highest monthly increases were recorded in Estonia and Italy (+1.0% both) and France (+0.9%). Prices were higher in Germany and Austria (+0.2% both) and Poland and Czechia (+0.1% both). The largest decreases were observed in Bulgaria (-2.9%), Slovakia (-2.0%) and Romania (-1.5%).

Industrial producer prices fell in October by 3.0% (in September they went down by 3.3%) in EU27, y-o-y. The largest decreases were recorded in Slovakia (-20.4%), Luxembourg (-6.4%) and France (-5.7%). Prices were lower in Poland (-5.1%), Austria (-4.8%) and Germany (-1.2%). The highest increases were observed in Czechia (+0.8%), Malta (+0.7%) and Sweden (+0.4%).