Czech industrial producer price growth eases to 1.3% in Feb, below forecast.

By bne IntelliNews March 18, 2013
Czech industrial producer prices increased by 1.3% y/y in February 2013 slowing their growth from 1.4% y/y in the previous months, data from the statistics office showed. The reading is below market forecast as analysts were expecting prices to grow by 1.5% y/y according to a Reuters poll. The slower growth in February came as a stronger expansion of food and machinery prices was offset by a deeper decrease of mining and quarrying prices as well as of prices of coke and refined products and metal products. In monthly terms, industrial producer prices stayed flat in February, after edging up by 1.1% in January. Agricultural producer prices advanced for the ninth month in a row in February, rising by 15.6% y/y, slightly faster than Januarys hike of 15.4% The growth was driven by 30.2% higher crop prices and a 1.5% rise in animal products prices. On a monthly basis, agricultural prices increased by 1.3% in February, following a 2.3% growth in January. Construction work prices dropped by 0.7% on the year and by 0.1% on the month in February. Prices of market services picked up by 0.5% on the year but were 0.2% lower on the month in February. IntelliNews comment : The PPI inflation in the Czech Republic eased to 2.2% in 2012 from 5.6% in 2011. The February data indicates that the consumer price inflation, which eased to more than a year and a half low of 1.7% in February might decelerate further in the following months.

Czech industrial producer price growth eases to 1.3% in Feb, below forecast.

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