Czech Producer Prices Mixed in August as Agriculture Climbs but Industry Falls Year-on-Year

Producer price trends in Czechia showed mixed movements in August, according to the Czech Statistical Office (CZSO). Agricultural producer prices declined by 1.2 percent month-on-month but remained 11.4 percent higher than a year earlier. Industrial producer prices were stable compared to July but fell 0.8 percent year-on-year, continuing a trend of annual declines.

Construction work prices increased by 0.3 percent from July and were 2.6 percent higher than in August 2024. Service producer prices in the business sphere rose 0.8 percent month-on-month and 4.4 percent year-on-year, supported by higher costs in advertising, broadcasting, and employment services.

Within agriculture, the monthly drop reflected lower prices for potatoes, fruit, cereals, fresh vegetables, pigs for slaughter, and oilseeds, while cattle, poultry, and milk recorded increases. Compared with August 2024, crop production prices rose by 4.6 percent, and animal production prices surged 18.9 percent, with sharp gains in eggs, cattle, milk, and poultry.

In industry, monthly prices were unchanged overall, with higher energy costs offset by declines in refined petroleum and some food categories. Compared with a year earlier, industrial producer prices fell 0.8 percent, driven by decreases in refined petroleum, chemicals, coal, and electricity, while dairy products, meat products, and wood products showed notable increases. Energy prices fell 3.6 percent year-on-year, while durable and non-durable consumer goods were both higher.

Construction prices remained stable, with a slight monthly rise in work prices offset by marginally lower material costs. Year-on-year, construction work prices were up 2.6 percent, while materials rose 1.1 percent.

Service producer prices rose sharply in some segments, particularly advertising and market research (up 9.7 percent month-on-month), programming and broadcasting (7.8 percent), and information services (2.1 percent). Over the year, service prices increased by 4.4 percent, led by broadcasting services, advertising, and security.

At the EU level, Eurostat preliminary data showed industrial producer prices in July increased by 0.6 percent month-on-month and by 0.4 percent year-on-year. Romania, Bulgaria, and Slovakia recorded the largest monthly increases, while Germany and Poland posted slight declines. Year-on-year, Bulgaria, Denmark, and Romania saw the strongest gains, while Estonia, Luxembourg, and Portugal experienced the largest decreases.