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Financial News: Czech Producer Prices Fall For First Time Since

Czech Producer Prices Fall For First Time Since Early 2018

05/20/2020 - 07:38:00 (RTTNews)

(RTTNews) - The Czech Republic's producer prices declined for the first time since early 2018 in April, figures from the Czech Statistical Office showed on Wednesday.

The industrial producer price index decreased 0.8 percent year-on-year in April, after a 0.4 percent increase in March. Economists had expected a 1.1 percent fall.

Prices dropped for the first time since February 2018.

Prices for mining and quarrying declined 3.7 percent annually in April and manufacturing cost fell 2.5 percent. Energy prices were 6.0 percent lower.

Meanwhile, prices for electricity, gas, steam and air conditioning grew 8.6 percent. Prices for water supply and food, beverages and tobacco rose by 5.4 percent and 4.5 percent, respectively.

On a monthly basis, producer prices fell 0.5 percent in April, largely due to significantly lower prices in 'coke, refined petroleum products'. Economists had expected a fall of 0.8 percent.

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