Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  November 09, 2012 09:34:30

CR - Consumer prices in October rose slightly mom


Consumer prices after three months of decline increased in October compared with September of 0.2%. This development was mainly influenced by the increase in prices of food and non-alcoholic beverages, alcoholic beverages and tobacco, clothing and footwear. Annual consumer price inflation in October was the same as in September, ie 3.4%.

Mom growth consumer prices of food and non-alcoholic drinks driven by the increase in meat prices by 1.2%, eggs by 3.4%, milk by 3.5%, butter by 9.0%, fruit by 3.0%, non-alcoholic beverages 1.7%. Prices of alcoholic beverages rose by 3.1%, the price of beer by 4.8%. The clothing and footwear prices of clothing rose by 2.3% and footwear by 4.6%.

The decrease in the price level came from prices in transport, where fuel prices after two months of growth fell in October by 1.1% mom.In 'communications mobile phones prices fell by 1.3% and prices of telecommunication services by 0.6%. The decline in prices of health influenced reduce drug prices and fees paid by 0.5% and prices of seasonal spa stays by 5.5%. In food, prices of yogurt decreased by 3.6%, potatoes by 6.3%, sugar by 1.4%.

Prices of goods in total increased by 0.6%, prices of services went down by 0.2%.

Year on year increase in consumer prices in October as in September by 3.4%. Acceleration of price growth was primarily in alcoholic beverages and tobacco, alcoholic beverages, where prices were higher by 4.4% (in September by 1.2%). On the contrary, the decline in the annual growth occurred mainly in transport due to lower growth in prices to 7.8% from 9.6% in September.

Decisive influence on the annual growth of overall level of consumer prices in October have continued to price in housing, water, electricity, fuel and prices of food and non-alcoholic drinks. In housing were higher gas prices by 13.2% and electricity by 4.4%, water 12.0%, 10.5% sewage, heat and hot water by 8.7%. Net rents rose by 4.3%, with 10.7% of regulated and market prices by 1.5%. In food, meat prices rose by 10.3%, with 15.8% of the pork and beef by 12.5%. Prices of eggs increased by 40.0%, 8.2% yogurt, fruit by 9.0%, vegetables by 16.1%, 10.3% cocoa.

The reduction in the price growth came from 'clothing and footwear, where prices of clothing fell by 4.1% and footwear by 1.5%. The decline in prices of housing and household equipment were mainly lower prices of instruments and household appliances by 5.1%.In 'communications', prices of mobile phones by 9.5%.

Prices of goods increased by 3.7% and services by 2.8%. Overall consumer price index excluding imputed rent was up 103.6%.

Inflation rate, an increase in the average consumer price index for last 12 months and previous 12 months was 3.3% in October.

Average increase in the harmonized index of consumer prices (HICP) 1) 27 EU member states, according to preliminary data of Eurostat in September as well as 2.7% in August. The highest annual rates in Hungary (6.4%) and the lowest in Greece (0.3%). In Germany, the price growth decelerated to 2.1% from 2.2% in August. The Slovak prices rose in September as well as in July and August by 3.8%. According to preliminary calculations,in October 2012, the HICP in the Czech Republic decreased by 0.3% yoy by 3.6% (in September by 3.5%). Flash estimate, annual HICP for changes Eurozone in October 2012 was 2.5%, as indicated by Eurostat. (For more information on the Eurostat website: HICP ).

Source: CSO
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