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All sectors again see high inflation in April

Record inflation for agricultural prices in Czech Republic

All sectors of the Czech economy were hit by high inflation again in April, with the year-on-year jump for producer prices in agriculture setting a record.

Agricultural producer prices soared by 35.3 percent when compared to April 2021. This is the highest year-on-year increase since the Czech Statistical Office (ČSÚ) began monitoring producer prices in 1992. The producer price indices track the average changes in prices that domestic producers receive for their goods or services. It does not reflect what consumers pay, which is tracked by the consumer price index.

The agriculture sector was not alone in sharp rises, but the others tracked by the ČSÚ were not all-time records.

“The month-on-month and year-on-year growth of all producer prices continued in April as well. Industrial producer prices increased by more than 26 percent year-on-year, and agricultural prices by more than 35 percent,” Vladimír Klimeš, head of the ČSÚ's industrial and foreign trade price statistics department, said.

“According to estimates, construction work prices rose by almost 13 percent year-on-year, and market services prices for companies were higher by 5.5 percent,” Klimeš said.

Source: expats.cz


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