Czech industrial producer prices' growth slowed to under 1% in October

Czech industrial producer prices' growth slowed to under 1% in October
Year-on-year growth of the Czech producer price index of inflation (PPI) slowed to 0.9% in October from 1.9% in September.
By bne IntelliNews November 19, 2019

The year-on-year growth of Czech industrial producer prices slowed to 0.9% in October from 1.9% in September, the Czech Statistics Office (CSO) said in a report published on November 18

Prices grew the most in electricity, gas, steam and air conditioning by 7.5%, food products, beverages, tobacco by 3.3%, and preserved meat and meat products by 10.4%. “Prices fell significantly in coke, refined petroleum products. Lower were prices also in chemicals and chemical products by 5.5%,” said the head of the CSO's Agricultural, Construction, and Services Prices Statistics Unit Jiri Sulc.

In month-on-month terms, prices of industrial producers fell by 0.3%, particularly in mining and quarrying by 2.1%, basic metals, chemicals and chemical products by 1.5%, fabricated metal products by 0.6% and transport equipment by 0.4%. 

“During 2020, slower growth of the Czech economy and wages should also contribute to lower growth in producer prices. However, the pressure on industrial producer price inflation may gradually recover in the second half of 2020, “ said Generali Investments CEE chief economist Radomir Jac, daily E15 cited

 

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