In February level of producer prices in industry decreased by 0.1%

20.03.2015

According to the data of the Central Statistical Bureau of Latvia (CSB) compared to January level of producer prices in the Latvian industry in February 2015 dropped by 0.1%. Both prices of products sold on the domestic market and prices of exported products decreased by 0.1%; of which in exports to euro area countries reduced by 0.5%, but in exports to non-euro area countries rose by 0.2%. Over a month changes of producer prices were mostly affected by price drop in electricity, gas, steam and air conditioning supply, as well as in manufacture of wood and of products of wood, except furniture.

In February, compared to February of the previous year, the average level of producer prices in the Latvian industry decreased by 0.3%. Producer prices of products sold on the domestic market grew by 0.2%, but prices of exported products reduced by 0.9%; of which in exports to euro area countries - by 0.7% and in exports to non-euro area countries - by 1%. The most significant price drop was in manufacture of food products (by 0.7 percentage points),

Producer price changes in February 2015, %

 

Weights (%)

Price changes (%)

February 2015

compared to

January 2015

February 2014

Total industrial production

100.0

-0.1

-0.3

 

Mining and quarrying

2.1

1.4

0.7

 

Manufacturing

74.3

0.0

-0.8

 

Electricity, gas, steam and air conditioning supply

20.2

-0.6

0.6

 

Water supply; sewerage, waste management and remediation activities

3.4

-0.9

3.2

Products sold on the domestic market

100.0

-0.1

0.2

 

Mining and quarrying

1.6

0.1

0.0

 

Manufacturing

55.9

0.2

-0.6

 

Electricity, gas, steam and air conditioning supply

36.9

-0.7

0.6

 

Water supply; sewerage, waste management and remediation activities

5.6

-0.5

5.0

Exported products

100.0

-0.1

-0.9

 

of which:

 

 

 

 

mining and quarrying

2.7

2.2

1.2

 

manufacturing

94.5

-0.1

-0.9

 

water supply, sewerage, waste management and remediation activities

0.9

-4.3

-8.5

Producer price changes over the corresponding month of the previous year, %

Since the data updates were submitted by respondents, producer price index for January 2015 was recalculated.

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 March will be published on 23 April.

 

 

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