In 2015, level of producer prices in industry reduced by 1.0 %

22.01.2016

Data compiled by Central Statistical Bureau of Latvia show that, as compared to 2014, in 2015 average level of producer prices in Latvian industry diminished by 1.0 %. Prices of products sold on domestic market dropped by 1.4 % and prices of exported products – by 0.5 %, of which prices in export to euro area countries fell by 0.4 % and prices in export to non-euro area countries – by 0.5 %. The main price decrease was observed in waste collection, treatment and disposal activities; materials recovery and in manufacture of food products. The most notable price increase was recorded in sewerage as well as in water collection, treatment and supply.

In December 2015, level of producer prices in Latvian industry decreased by 0.2 %, as compared to November. Level of prices of products sold on domestic market declined by 0.4 %, while prices of exported products – by 0.1 %. Level of prices in export to euro area countries dropped by 0.3 %, whereas level of prices in export to non-euro area countries rose by 0.1 %. During the month, prices reduction in manufacture of basic pharmaceutical products and pharmaceutical preparations, manufacture of paper and paper products, as well as in manufacture of computer, electronic and optical products had the greatest influence on changes in producer prices.

In December 2015, average level of producer prices in Latvian industry declined by 1.6 %, as compared to December 2014. Level of prices of products sold on domestic market fell by 2.6 %, while prices of exported products – by 0.5 %. Prices in export to euro area countries reduced by 1.2 %, whereas average level of producer prices in export to non-euro area countries did not change. The most significant price reduction was recorded in electricity, gas, steam and air conditioning supply (of 0.7 percentage points), in manufacture of wood and products of wood (except furniture) (of 0.5 percentage points) and manufacture of food products (of 0.5 percentage points).

Producer price changes in December 2015, per cent

 

Weights (%)

Price changes (%)

December 2015

compared to

November 2015

December 2014

Total industrial production

100.0

-0.2

-1.6

 

Mining and quarrying

2.1

0.7

6.2

 

Manufacturing

74.3

-0.2

-1.1

 

Electricity, gas, steam and air conditioning supply

20.2

-0.2

-3.7

 

Water supply, sewerage, waste management and remediation activities

3.4

-0.5

-4.2

Products sold on the domestic market

100.0

-0.4

-2.6

 

Mining and quarrying

1.6

0.6

0.8

 

Manufacturing

55.9

-0.4

-1.7

 

Electricity, gas, steam and air conditioning supply

36.9

-0.2

-3.9

 

Water supply, sewerage, waste management and remediation activities

5.6

-0.8

-3.7

Exported products

100.0

-0.1

-0.5

 

of which:

 

 

 

 

mining and quarrying

2.7

0.7

9.7

 

manufacturing

94.5

-0.1

-0.7

 

water supply, sewerage, waste management and remediation activities

0.9

1.9

-7.7

 

Changes in producer prices over corresponding month of the previous year, per cent

In 2015, information on producer prices in industry was provided by more than 640 enterprises, which for index calculations every month informed CSB about approximately 3 thousand prices – 1.6 thousand of which regarded products and industrial services sold on domestic market and 1.4 thousand prices on export markets.

More information on producer price changes is available in the CSB database section Producer prices.

Press release on producer price changes in industry for January 2016 will be published on 19 February 2016.

 

Media requests:
Beate Danusēviča, Kristīne Romanovska
Information and Communication Section
media [at] csb [dot] gov [dot] lv
Tel.: +371 67366924, +371 67366621, +371 27880666
www.twitter.com/CSB_Latvia
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More information on data:
Producer Price Indices Section
Rita Brice
rita [dot] brice [at] csb [dot] gov [dot] lv
Tel. 67366862