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Czech producer prices fall further in August

The Czech Republic’s producer prices declined for the fifth straight month in August, according to the latest figures from the Czech Statistical Office (CZSO). 

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The industrial producer price index (PPI) decreased 0.5% year-on-year in August, following a 0.1% decline in July. Prices for mining and quarrying declined 3.5% annually in August and manufacturing cost fell 2.%. Prices for energy and intermediate goods fell by 1.8% and 2.6%, respectively.

Meanwhile, prices for electricity, gas, steam and air conditioning grew 7.9%. Prices for water supply and food, beverages and tobacco, rose by 6.4% and 1.5%, respectively.

On a monthly basis, producer prices fell 0.3% in August, largely due to a rise in prices for coke, refined petroleum products, CZSO said on September 16.