In August, the level of producer prices in industry increased by 0.1 %

21.09.2017

According to data of the Central Statistical Bureau (CSB), compared to July, in August 2017 the level of producer prices in Latvian industry rose by 0.1 %. Prices of products sold on the domestic market, as well as those of exported products grew by 0.1 %. Prices of products exported to euro area countries decreased by 0.2 %, whereas prices of products exported to non-euro area countries increased by 0.4 %.

Over the month, changes in producer prices were mainly affected by a price increase in manufacture of fabricated metal products, except machinery and equipment, as well as in repair and installation of machinery and equipment. A lowering effect on the prices could be observed in manufacture of wood and of products of wood and cork, except furniture, as well as in manufacture of food products.

Producer price changes in August 2017
(as per cent)

 

Weights

Price changes in August 2017, compared to

July 2017

August 2016

Industrial production – total

100.0

0.1

3.3

Mining and quarrying

2.6

-0.4

0.8

Manufacturing

78.1

0.1

4.0

Electricity, gas, steam and air conditioning supply

15.3

0.0

-0.2

Water supply; sewerage, waste management and remediation activities

4.0

0.6

6.8

Products sold on the domestic market

100.0

0.1

3.3

Mining and quarrying

1.9

0.0

4.0

Manufacturing

59.4

0.0

5.1

Electricity, gas, steam and air conditioning supply

31.5

0.0

-0.2

Water supply; sewerage, waste management and remediation activities

7.2

0.6

6.9

Exported products

100.0

0.1

3.3

Mining and quarrying

3.3

-0.6

-0.9

Manufacturing

95.7

0.1

3.4

Water supply; sewerage, waste management and remediation activities

1.0

0.7

6.2

 

In August 2017, compared to August 2016, the average level of producer prices in Latvian industry increased by 3.3 %. Prices of products sold on the domestic market, as well as those of exported products grew by 3.3 %. Prices of products exported to euro area countries rose by 3.8 % and of products exported to non-euro area countries – by 2.9 %.

The most significant impact was caused by a price increase in 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 production and distribution of electricity.

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 September 2017 will be published on 20 October.

 

 

Media requests:
Sanda Rieksta
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366621, +371 27880666
www.csb.gov.lv
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More information on data:
Anita Merca
Producer Price Indices Section
E-mail: Anita [dot] Merca [at] csb [dot] gov [dot] lv
Phone: +371 67366784