Producer prices in the Czech Republic increased in 2021, with the highest increase being seen in agriculture at 31.8 percent YoY, followed by industry at 24.3 percent, construction at 12.3 percent, and business marketing services at 5.8 percent.

In December, the year-on-year growth slowed in agriculture and industry but was slightly faster in construction and market services. Industrial producers increased prices by 20.1 percent in December compared to the previous year, while agricultural producers increased prices by 27.3 percent. Construction work prices rose by 12.2 percent YoY in December, and the prices of market services for businesses rose by 7.3 percent.

Consumer prices, which include producer prices, rose 15.8 percent YoY in December, with the average inflation rate for the whole of 2021 being 15.1 percent, the highest since 1993, according to the Czech Statistical Office.

Article by Prague Forum