Egg Prices Skyrocketed, Potatoes Have Also Become More Expensive

Producer prices in the Czech Republic continue to rise by tens of percent.

According to data released by the Czech Statistical Office, they were up 25.5 percent in agriculture, 19 percent in industry, and 11.4 percent in construction.

The prices of market services for businesses also rose year-on-year by 6.3 percent. However, the year-on-year price growth slowed down in all these groups compared to December.

Compared to last January, potato prices rose by 43.1 percent, and egg prices rose by 82.7 percent. For example, in industry, the prices of electricity, gas, steam, and air-conditioned air rose by 35.7 percent, and those of coal, lignite, and lignite by 82 percent.

In the construction sector, prices of materials and products consumed rose by 14.3 percent year-on-year in January.

In services, employment-related prices rose by 27.6 percent, programming prices rose by 9.1 percent, warehousing and transportation support services rose by 5.5 percent, and advertising and market research services rose by 6.4 percent.

“The January manufacturing price results do not look favorable as they confirm the continuation of the inflationary wave in much of the economy. While we can be pleased with the lower year-on-year figures, these are attributable to the calculation from a higher comparative base,” said Petr Dufek, chief economist at Bank Creditas.

The rise in egg prices is attributed to the bird flu affecting the supply.

The Czech National Bank, as well as analysts quoted by Czech Television, think that inflation peaked in January and is likely to begin falling in the coming months, going below 10 percent in the second half of 2023.

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