In April, producer prices in industry increased by 0.1 %

23.05.2017

According to data of the Central Statistical Bureau (CSB), compared to March, in April 2017 the level of producer prices in Latvian industry grew by 0.1 %. The prices of products sold on the domestic market increased by 0.5 %, whereas the prices of exported products dropped by 0.2 %. The prices of products exported to euro area countries decreased by 0.2 % and of products exported to non-euro area countries – by 0.1 %.

During the month, changes in producer prices were mainly affected by a price increase in the manufacture of food products and manufacture of wood and of products of wood and cork, except furniture, whereas a lowering effect on the prices could be observed in production of electricity.

Producer price changes in April 2017, %

 

Weights (%)

Price changes (%)

April 2017

compared to

March 2017

April 2016

Industrial production total

100.0

0.1

2.2

 

Mining and quarrying

2.6

0.3

0.9

 

Manufacturing

78.1

0.3

2.5

 

Electricity, gas, steam and air conditioning supply

15.3

-0.3

0.2

 

Water supply; sewerage, waste management and remediation activities

4.0

-0.5

7.4

Products sold on the domestic market

100.0

0.5

2.2

 

Mining and quarrying

1.9

0.9

-0.3

 

Manufacturing

59.4

1.0

2.8

 

Electricity, gas, steam and air conditioning supply

31.5

-0.3

0.2

 

Water supply; sewerage, waste management and remediation activities

7.2

-0.5

8.6

Exported products

100.0

-0.2

2.3

 

Mining and quarrying

3.3

0.1

1.6

 

Manufacturing

95.7

-0.2

2.3

 

Water supply; sewerage, waste management and remediation activities

1.0

-0.8

-0.8

Compared to April 2016, in April 2017 the average level of producer prices in Latvian industry has increased by 2.2 %. The prices of products sold on the domestic market have increased by 2.2 %, while those of exported products have grown by 2.3 %. The prices of products exported to euro area countries have grown by 2.2 % and of products exported to non-euro area countries – by 2.3 %.

The most significant impact was caused by a price increase in the manufacture of food products, manufacture of wood and of products of wood and cork, except furniture, as well as in waste collection, treatment and disposal activities; materials recovery. The greatest lowering effect was experienced in the production of electricity, as well as in manufacture of computer, electronic and optical products.

 

Producer price changes as compared to the corresponding month of the previous year, as per cent

 

This year information on producer prices in industry is provided by more than 610 enterprises, which inform the CSB about approximately 2.6 thousand prices every month – 1.4 thousand of which are related to products and industrial services sold on the domestic market, and 1.2 thousand relating to prices on the export markets, with the respective information being then used for index calculations.

More information on producer price changes is available in the Producer Prices – Key Indicators section of the CSB website.

Information on producer price changes in industry in May 2017 will be published on 21 June.

 

 

 

Media requests:
Sanda Rieksta
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366621, +371 27880666
www.twitter.com/CSB_Latvia
www.facebook.com/csplatvija

 

More information on data:
Anite Merca
Producer Price Indices Section
E-mail: Anita [dot] Merca [at] csb [dot] gov [dot] lv
Phone: +371 67366784