Consumer price indices - inflation - January 2012
Year-on-year inflation accelerated in January
Consumer prices rose in January by 1.8%, month-on-month. This growth came from a rise in the reduced VAT rate from 10% to 14% and a price increase especially in 'housing, water, electricity, gas and other fuels'. The increase in consumer prices accelerated to 3.5%, year-on-year (2.4% in December 2011).
The month-on-month growth of consumer prices was influenced by higher VAT, which was mainly shown in 'food and non-alcoholic beverages', 'health' and partly in 'housing, water, electricity, gas and other fuels' and 'transport'. The impact of this change on an overall increase of the m-o-m consumer price index in January amounted to a 1.1 percentage point growth, according to the CZSO approximate calculation. In 'food and non-alcoholic beverages', prices continued to grow: meat by 2.4%, fish by 1.8%, eggs by 5.5%, yoghurts by 4.7%, oils and fats by 1.8%, fruit by 5.4%, vegetables by 4.5% and non-alcoholic beverages by 2.8%. In 'health', prices of medicaments and fees paid by patients on prescription drugs rose by 6.4% in particular. In 'housing, water, electricity, gas and other fuels', prices of water supply increased primarily by 11.7%, sewerage collection by 10.0%, heat and hot water by 6.7%, from the items subject to reduced VAT rate. Prices of electricity and natural gas rose by 4.2%. The net actual rentals went up by 2.7%, of which for dwellings with regulated rentals rose by 5.7% and for dwellings with market rentals by 1.4%. In 'transport', prices of transport services increased by 4.0%. Prices of automotive fuel were higher by 2.1%, where the average price of diesel oil (36.32 CZK per litre) and petrol Natural 95 (35.72 CZK per litre) reached its historic high in January 2012. In 'alcoholic beverages, tobacco', prices of spirits rose by 3.9%. The growth of prices in 'recreation and culture' came particularly from higher prices of package holidays by 5.4% and newspapers and magazines also by 5.4%. In 'restaurants and hotels', there was a slight price rise in almost all items, of which the highest in the catering services in nursery schools and school canteens (3.6% and 2.9%, respectively).
A contrary effect on the price level came primarily from a drop in prices of clothing and footwear (-4.8% and -4.2%, respectively).
Prices of goods in total rose by 1.6% and prices of services by 2.0%.
In terms of the year-on-year comparison, in January, the increase in consumer prices was 3.5%, i.e. 1.1 percentage points up on December. An acceleration of the price growth was particularly shown in 'food and non-alcoholic beverages', 'housing, water, electricity, gas and other fuels', 'health', 'transport' and 'restaurants and hotels'. In 'food and non-alcoholic beverages', the year-on-year growth of prices was recorded for the majority of kinds of food. In 'housing, water, electricity, gas and other fuels', prices of natural gas rose by 25.1% (22.2% in December), water supply by 11.8% (6.2% in December), sewerage collection by 10.1% (5.8% in December), heat and hot water by 6.8% (1.9% in December). The net actual rentals went up by 5.7%, of which for dwellings with regulated rentals rose by 13.8% and for dwellings with market rentals by 1.9%. Electricity prices increased by 4.2%. In 'health', prices of medicaments and fees paid by patients on prescription drugs rose by 9.5% (2.5% in December). In 'transport', prices of transport services rose by 6.2% (2.9% in December). Prices of automotive fuel were higher by 7.4% y-o-y (7.2% in December). The growth of catering services accelerated to 3.4%, of which in company canteens and school canteens by 6.0% (3.8% in December).
A dominant upward effect on the price level, which was even strengthened in January, came from prices of 'housing, water, electricity, gas and other fuels' and 'food and non-alcoholic beverages'. In food, prices of bread were higher by 16.2%, rolls and baguettes by 18.9%, meat by 7.3%, eggs by 26.3%, milk by 8.1%, yoghurts by 9.4%, cheese by 6.4%, other milk products by 12.4%, sugar by 32.7%, cocoa by 17.9%, coffee by 33.6%.
The reduction in the y-o-y growth came mainly from prices in 'clothing and footwear', where prices of clothing went down (-4.8%). The drop in prices in 'furnishings, household equipment and routine maintenance of the house' was influenced primarily by lower prices of household appliances (-4.2%) and a moderate decrease in prices of furniture, furnishings, carpets and household textiles. In 'recreation and culture', a decrease in prices of audio-visual, photographic and information processing equipment (-10.3%) continued. In 'communications', prices of mobile phones were lower (-5.6%).
Prices of goods in total increased by 4.0% and prices of services by 2.8%. The overall consumer price index excluding imputed rentals was 103.9%, year-on-year.
Inflation rate, i.e. the increase in the average consumer price index in the twelve months to January 2012 compared with the average CPI in the previous twelve months, stood at 2.1% in January.
According to preliminary data of Eurostat, the year-on-year increase in the average harmonized index of consumer prices (HICP) in the EU27 member states was 3.0% in December, i.e. 0.4 percentage points down on November. The highest annual rate was observed in Slovakia (4.6%), and the lowest in Sweden (0.4%). In Germany, the y-o-y growth slowed down to 2.3% in December (2.8% in November). According to preliminary calculations, the HICP in the Czech Republic in January 2012 increased by 1.8%, month-on-month, and amounted to 3.8% (2.8% in December), year-on-year. The MUICP (Monetary Union Index of Consumer Prices) flash estimate for the Eurozone in January 2012 was 2.7%, y-o-y, as Eurostat announced (more information on the Eurostat's web pages: HICP).
The consumer price indices are calculated with new weights, which are derived from the household expenditures in 2010, from January 2012 on the base of a standard revision of the calculations of the price indices. Up to now, indices have been calculated from the technical base December 2009=100; now it was replaced by a new technical base December 2011=100. Indices calculated that way are chained at all levels of the CZ-COICOP classification to the existing price indices with the base 2005=100. Thereby, a continuation of the existing index time series 2005 = 100, from which indices to other bases are derived (previous month = 100, corresponding period of the last year = 100 and annual rolling average, i.e. the average of index numbers over the last 12 months to the average for the previous 12 months) are ensured. A detailed information can be found on the CZSO web pages.
Notes
Responsible manager of the CZSO: Jiri Mrazek, Department Director
Contact: Pavla Sediva, phone (+420) 274052138, e-m ail: pavla.sediva@czso.cz
Method of data collection: Direct field survey of prices, centrally surveyed prices and reporting
End of data collection: 20th day of the reference month
End of data processing: 3rd day of the month that follows the reference month
Related publications: 7101-12 Consumer Price Indices – Basic Breakdown (periodicity: monthly)
7103-12 Consumer Price Indices – Detailed Breakdown (periodicity: annually)
Documents available on the CZSO website: 710344-12 Consumer Price Indices – Detailed Breakdown (periodicity: monthly) ( /csu/czso/2-ep-7 )
Next News Release: 9 March 2012
Text not edited for language.
Attachments
- year 2024 | April 2024 | March 2024 | February 2024 | January 2024
- year 2023 | December 2023 | November 2023 | October 2023 | September 2023 | August 2023 | July 2023 | June 2023 | May 2023 | April 2023 | March 2023 | February 2023 | January 2023
- year 2022 | December 2022 | November 2022 | October 2022 | September 2022 | August 2022 | July 2022 | June 2022 | May 2022 | April 2022 | March 2022 | February 2022 | January 2022
- year 2021 | December 2021 | November 2021 | October 2021 | September 2021 | August 2021 | July 2021 | June 2021 | May 2021 | April 2021 | March 2021 | February 2021 | January 2021
- year 2020 | December 2020 | November 2020 | October 2020 | September 2020 | August 2020 | July 2020 | June 2020 | May 2020 | April 2020 | March 2020 | February 2020 | January 2020
- year 2019 | December 2019 | November 2019 | October 2019 | September 2019 | August 2019 | July 2019 | June 2019 | May 2019 | April 2019 | March 2019 | February 2019 | January 2019
- year 2018 | December 2018 | November 2018 | October 2018 | September 2018 | August 2018 | July 2018 | June 2018 | May 2018 | April 2018 | March 2018 | February 2018 | January 2018
- year 2017 | December 2017 | November 2017 | October 2017 | September 2017 | August 2017 | July 2017 | June 2017 | May 2017 | April 2017 | March 2017 | February 2017 | January 2017
- year 2016 | December 2016 | November 2016 | October 2016 | September 2016 | August 2016 | July 2016 | June 2016 | May 2016 | April 2016 | March 2016 | February 2016 | January 2016
- year 2015 | December 2015 | November 2015 | October 2015 | September 2015 | August 2015 | July 2015 | June 2015 | May 2015 | April 2015 | March 2015 | February 2015 | January 2015
- year 2014 | December 2014 | November 2014 | October 2014 | September 2014 | August 2014 | July 2014 | June 2014 | May 2014 | April 2014 | March 2014 | February 2014 | January 2014
- year 2013 | December 2013 | November 2013 | October 2013 | September 2013 | August 2013 | July 2013 | June 2013 | May 2013 | April 2013 | March 2013 | February 2013 | January 2013
- year 2012 | December 2012 | November 2012 | October 2012 | September 2012 | August 2012 | July 2012 | June 2012 | May 2012 | April 2012 | March 2012 | February 2012 | January 2012
- year 2011 | December 2011 | November 2011 | October 2011 | September 2011 | August 2011 | July 2011 | June 2011 | May 2011 | April 2011 | March 2011 | February 2011 | January 2011
- year 2010 | December 2010 | November 2010 | October 2010 | September 2010 | August 2010 | July 2010 | June 2010 | May 2010 | April 2010 | March 2010 | February 2010 | January 2010
Published: 16.02.2012
The data are valid as of the release date of the publication.
Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz