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Financial News: Czech Producer Prices Decline Slows In June

Czech Producer Prices Decline Slows In June

07/17/2020 - 06:13:00 (RTTNews)

(RTTNews) - The Czech Republic's producer prices declined at a softer pace in June, figures from the Czech Statistical Office showed on Friday.

The industrial producer price index decreased 0.3 percent year-on-year in June, following a 0.9 percent decline in May. Economists had expected a 0.1 percent fall.

Prices for mining and quarrying declined 3.6 percent annually in June and manufacturing cost fell 1.9 percent. Prices for energy and intermediate goods decreased by 2.8 percent and 2.4 percent, respectively.

Meanwhile, prices for electricity, gas, steam and air conditioning grew 8.0 percent. Prices for water supply and food, beverages and tobacco, rose by 6.4 percent and 1.7 percent, respectively.

On a monthly basis, producer prices fell 0.1 percent in June, largely due to a drop in prices for transport equipment and automobile parts. Economists had expected a rose of 0.1 percent.

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