In August level of producer prices in industry decreased by 0.6%

21.09.2015

According to the data of the Central Statistical Bureau of Latvia (CSB) compared to July level of producer prices in the Latvian industry in August 2015 dropped by 0.6%. The level of prices of products sold on the domestic market reduced by 0.5%, prices of exported products - by 0.7%. The level of prices of products exported to euro area countries decreased by 0.3% and of products exported to non-euro area countries - by 0.9%. Over a month changes of producer prices were mostly affected by price drop in manufacture of basic pharmaceutical products and pharmaceutical preparations, steam, gas supply and air conditioning, as well as in manufacture of paper and paper products.

In August 2015, compared to August 2014, the average level of producer prices in Latvian industry fell by 1.5%. The prices of goods sold on the domestic market reduced by 2.3%, level of prices of exported products – by 0.7%. Prices of products exported to euro area countries decreased by 0.3% and of products exported to non-euro area countries - by 0.9%. The major price decrease was recorded in manufacture of food products (of 0.8 percentage points), electricity, gas, steam and air conditioning supply (of 0.5 percentage points) and manufacture of wood and products of wood, except of furniture (of 0.3 percentage points).

Producer price changes in August 2015, as per cent

 

Weights (%)

Price changes (%)

August 2015

compared to

July 2015

August 2014

Total industrial production

100.0

-0.6

-1.5

 

Mining and quarrying

2.1

-0.9

6.0

 

Manufacturing

74.3

-0.6

-1.3

 

Electricity, gas, steam and air conditioning supply

20.2

-0.6

-2.6

 

Water supply; sewerage, waste management and remediation activities

3.4

-0.2

-3.5

Products sold on the domestic market

100.0

-0.5

-2.3

 

Mining and quarrying

1.6

-0.1

0.4

 

Manufacturing

55.9

-0.4

-2.1

 

Electricity, gas, steam and air conditioning supply

36.9

-0.6

-2.3

 

Water supply; sewerage, waste management and remediation activities

5.6

-0.3

-3.9

Exported products

100.0

-0.7

-0.7

 

of which:

 

 

 

 

mining and quarrying

2.7

-1.4

9.8

 

manufacturing

94.5

-0.7

-0.8

 

water supply, sewerage, waste management and remediation activities

0.9

0.4

-1.1

 

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

Data source: Central Statistical Bureau of Latvia

This year data on producer prices are provided by more than 640 enterprises which for the calculation of index each month provide the CSB with around 3 thousand prices, of which 1.6 thousand prices are for products sold on the domestic market and 1.4 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 for September 2015 will be published on 21 October.

 

 

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