The Czech Republic’s producer prices declined at the fastest pace since late-2016 in May, figures from the Czech Statistical Office (CZSO) show.
The industrial producer price index (PPI) decreased 0.9% year-on-year in May, following a 0.8% decline in April. Economists had expected a 1.7% fall.
Prices for mining and quarrying declined 3.1% annually in May and manufacturing cost fell 2.6%. Energy prices decreased 6.9%. Meanwhile, prices for electricity, gas, steam and air conditioning grew 8.%. Prices for water supply and food, beverages and tobacco, rose by 6.4% and 2.7%, respectively.
On a monthly basis, producer prices rose 0.4% in May, largely due to lower prices in coke and refined petroleum products, CZSO said on June 16.