In February industrial producer prices increased by 0.8%

21.03.2006

Compared to the previous month, producer prices in Latvian industry in February 2006 increased on average by 0.8%, according to the Central Statistical Bureau. Over the year (February 2006 over February 2005) producer prices have increased by 7.2%. In February 2005 prices rose by 0.6% compared to January but compared to February 2004 the increase was 10.4%.

Producer price indices and price changes in the two months of 2006 were as follows:

(in per cent)

 

Price index
(December 2005=100)

Price changes compared to

previous month

corresponding month of previous year

 2006          January

101.3

1.3

7.1

                   February

102.1

0.8

7.2

Producer price changes depending on the directions of product sales

(in per cent)

 

Price change in February 2006 compared to

January 2006

February 2005

Industrial production, total

0.8

7.2

of which:

sold on the domestic market

0.4

7.4

exported

1.3

7.0

Compared to January, the overall level of producer prices in February 2006 was mostly raised by price increases in the manufacture of pulp, paper and paper products, in the manufacture of machinery and equipment, in the manufacture furniture and manufacturing n.e.c and in some other activities as well as by a rise in the tariffs of electricity, gas, steam and hot water supply (mainly in steam and hot water supply). The fall in the prices in the manufacture of wood and of articles of wood (except furniture) had the greatest lowering effect (mainly in sawing, planing and impregnation).

The price increase of 1.9 in the manufacture of food products and beverages and the rise of 1.0 percentage point in the tariffs of electricity, gas, steam and hot water supply accounted for the most significant rise in the overall level of producer prices during the year. The overall price level was raised by the price increases of 0.8 percentage points in the manufacture of other transport vehicles, 0.7 percentage points in the manufacture of wood and of articles of wood (except furniture) and 0.4 percentage points in the manufacture of non-metallic mineral products as well as in the manufacture of fabricated metal products (except machinery and equipment).

Producer price indices and price changes in the most relevant industrial sectors in February 2006:

(in per cent)

     

Price index
(December 2005 = 100)

Price changes in February 2006 compared to

January 2006

February 2005

Industry - Total

102.1

0.8

7.2

Mining and quarrying

106.0

2.0

10.5

Manufacturing

101.7

0.7

6.9

Manufacture of food products and beverages

100.2

0.1

8.6

Manufacture of textiles

100.1

0.5

2.8

Manufacture of wearing apparel; dressing and dyeing of fur

99.9

-0.1

0.1

Manufacture of wood and of products of wood (except furniture)

99.7

-1.0

3.2

Manufacture of pulp, paper and paper products

101.8

3.7

0.6

Publishing, printing and reproduction of recorded media

100.2

-1.0

4.2

Manufacture of chemicals, chemical products and man-made fibres

100.7

-0.6

1.0

Manufacture of rubber and plastic products

104.4

0.6

9.4

Manufacture of non-metallic mineral products

104.2

0.0

11.4

Manufacture of fabricated metal products (except machinery and equipment)

103.9

0.3

10.5

Manufacture of machinery and equipment

102.3

2.2

7.1

Manufacture of electrical machinery and apparatus

103.2

-1.0

4.3

Manufacture of other transport equipment1

104.4

0.8

35.2

Manufacture of furniture; manufacturing n.e.c.

98.1

1.3

1.5

Electricity, gas and water supply

104.2

0.7

8.7

Electricity, gas, steam and hot water supply

104.4

0.8

8.8

Collection, purification and distribution of water

100.0

0.0

6.1

______________________

1

Shipbuilding and repair as well as the manufacture of railway rolling stock.

Prepared by the Producer Price Indices Section
Price Statistics Department
Aleksandrs Grzibovskis

Tel. 7366813