Statisticians: Food production prices rose in January

January saw acceleration in year-on-year growth of food production prices, rising to 21.4 percent as opposed to December’s 18.8 percent. Industrial producers saw a more than 6 percent rise in costs in January in month-on-month terms, according to data published by the Czech Statistics Agency.

Construction costs rose by just 0.1 percent when compared with December to a year-on-year rise of 8.3 percent. Meanwhile, year-on-year growth in the cost of services is at 3.2 percent.

According to the chief economist of the Czech Banking Association, Jakub Seidler, January producer prices confirm that inflationary pressures on the manufacturing sector remain strong, which will put further pressure on end-user prices.