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Financial News: Czech Producer Prices Increase In February

Czech Producer Prices Increase In February

03/15/2021 - 05:00:00 (RTTNews)

(RTTNews) - The Czech Republic's producer prices increased in February, figures from the Czech Statistical Office showed on Monday.

The industrial producer price index grew 1.4 year-on-year in February after remaining unchanged in January. Economists had expected a 1.1 percent rise.

Prices for water supply gained 6.9 percent yearly in February. Prices for manufacturing products cost rose 1.6 percent and those of electricity, gas, steam and air conditioning surged 0.4 percent.

Meanwhile, prices for mining and quarrying declined by 0.8 percent.

Prices for durable consumer goods and intermediate goods rose by 3.6 percent and 3.5 percent, respectively.

Meanwhile, prices for energy declined 0.5 percent and those for non-durable goods decreased 1.4 percent.

On a monthly basis, producer prices rose 0.7 percent in February. Economists had forecast a 0.6 percent rise.

Separate data from the statistical office showed that the import prices rose 0.4 percent annually in January, after a 0.7 percent fall in December.

Export prices rose 3.8 percent yearly in January, following a 2.3 percent growth in the previous month.

On a monthly basis, import prices and export prices grew by 0.3 percent and 0.6 percent, respectively, in January.

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