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Czech Producer Prices Fall For Fifth Month

The Czech Republic's producer prices declined for the fifth straight month in August, figures from the Czech Statistical Office showed on Wednesday.

The industrial producer price index decreased 0.5 percent year-on-year in August, following a 0.1 percent decline in July. Economists had expected a 0.1 percent fall.

Prices for mining and quarrying declined 3.5 percent annually in August and manufacturing cost fell 2.0 percent. Prices for energy and intermediate goods fell by 1.8 percent and 2.6 percent, respectively.

Meanwhile, prices for electricity, gas, steam and air conditioning grew 7.9 percent. Prices for water supply and food, beverages and tobacco, rose by 6.4 percent and 1.5 percent, respectively.

On a monthly basis, producer prices fell 0.3 percent in August, largely due to a rise in prices for coke, refined petroleum products. Economists had expected a 0.1 percent rise.

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