In 2014 level of producer prices in industry increased by 0.4%

22.01.2015

According to the data of the Central Statistical Bureau of Latvia (CSB),compared to 2013 average level of producer prices in Latvian industry in 2014 rose by 0.4%. The prices of products sold on the domestic market rose by 0.2%, whereas prices of exported products - by 0.6%. The largest price growth was observed in water collection, treatment and supply, sewerage, in manufacture of wood and wood products, except furniture. The largest price reduction was observed in manufacture of computer, electronic and optical products, manufacture of chemicals and chemical products, as well as in manufacture of electric equipment.

In December 2014, level of producer prices in Latvian industry, compared to November, reduced by 0.4%. The prices of products sold on the domestic market dropped by 0.2%, and prices of exported products - by 0.5%; of which in exports to euro area countries increased by 0.4% and in exports to non-euro area countries declined by 1.1%. Producer price changes over a month were mostly affected by price drop in manufacture of other transport equipment and waste collection, treatment and disposal activities; materials recovery.

In December 2014 compared to December of the previous year, the average level of producer prices in the Latvian industry increased by 0.3%. Producer prices of products sold on the domestic market rose by 0.5%, and prices of exported products grew by 0.1%. The most significant price rise was in electricity, steam and air conditioning supply (by 0.6 percentage points), but the largest decreasing impact had price drop in manufacture of food products (by 0.5 percentage points).

Producer price changes in December 2014

 

Weights (%)

Price changes (%)

December 2014

compared to

November 2014

December 2013

Total industrial production

100.0

-0.4

0.3

 

Mining and quarrying

2.1

-0.3

1.3

 

Manufacturing

73.5

-0.4

-0.6

 

Electricity, gas, steam and air conditioning supply

20.4

0.0

2.9

 

Water supply; sewerage, waste management and remediation activities

4.0

-1.3

2.3

Products sold on the domestic market

100.0

-0.2

0.5

 

Mining and quarrying

1.6

0.5

0.7

 

Manufacturing

54.8

-0.2

-0.8

 

Electricity, gas, steam and air conditioning supply

36.9

0.0

1.9

 

Water supply; sewerage, waste management and remediation activities

6.7

-1.1

3.4

Exported products

100.0

-0.5

0.1

 

of which:

 

 

 

 

mining and quarrying

2.6

-0.8

1.7

 

manufacturing

94.0

-0.5

-0.4

 

water supply, sewerage, waste management and remediation activities

1.2

-2.6

-4.7

 

Producer price changes in per cent over the corresponding month of the previous year

Data source: Central Statistical Bureau of Latvia

In 2014, data on producer prices were provided by more than 660 enterprises which for the calculation of index each month provided the CSB with around 3.1 thousand prices, of which 1.6 thousand prices are for products sold on the domestic market and 1.5 thousand - for exported products and industrial services.

More detail information on producer price changes can be found in the CSB database in section Producer prices.

Press release on producer price changes in industry in January will be published on 20 February.

 

More information:
Producer Price Indices Section
Baiba Alksnīte
Tel. +371 67366696