In February producer prices in industry have increased by 0.1%

21.03.2014

Compared to January, producer prices in industry in February 2014 rose by 0.1%, according to the data of Central Statistical Bureau of Latvia. The rise in prices of products sold on the domestic market reduced by 0.3%, but prices of exported products grew by 0.5%; of which in exports to euro area countries – by 0.2% and in exports to non-euro area countries – by 0.7%. Over the month increase of producer prices was mostly affected by price rise in manufacture of fabricated metal products, except machinery and equipment (by 0.09 percentage points) and in manufacture of wood and of products of wood, except furniture (by 0.04 percentage points), as well as by price drop in manufacture of computer, electronic and optical products (by 0.07 percentage points) and in printing and reproduction of recorded media (by 0.05 percentage points).

In February, compared to February 2013, the overall level of producer prices in Latvian industry grew by 1.0%. The producer prices of products sold on the domestic market rose by 0.3%, whereas prices of exported products - by 1.7%. The largest increasing impact had the price rise in the manufacture of wood and wood products, except furniture (by 0.94 percentage points) and in electricity, gas, steam and air conditioning supply (by 0.26 percentage points). But the largest decreasing impact had reduction of prices in manufacture of computer, electronic and optical products (by 0.35 percentage points) and in manufacture of chemicals and chemical products  (by 0.14 percentage points).

Producer price changes in February 2014

 

Weights (%)

Price changes (%) in February 2014

compared to

January 2014

February 2013

Total industrial production

100.0

0.1

1.0

 

Mining and quarrying

2.1

1.0

3.0

 

Manufacturing

73.5

0.1

1.0

 

Electricity, gas, steam and air conditioning supply

20.4

0.0

1.3

 

Water supply, sewerage, waste management and remediation activities

4.0

0.4

-2.3

Products sold on the domestic market

100.0

-0.3

0.3

 

Mining and quarrying

1.6

0.3

1.9

 

Manufacturing

54.8

0.0

0.9

 

Electricity, gas, steam and air conditioning supply

36.9

-0.7

-0.2

 

Water supply, sewerage, waste management and remediation activities

6.7

0.2

-2.2

Exported products

100.0

0.5

1.7

 

of which:

 

 

 

 

mining and quarrying

2.6

1.4

3.8

 

manufacturing

94.0

0.2

1.1

 

water supply, sewerage, waste management and remediation activities

1.2

1.9

-3.1

 

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

Data source: Central Statistical Bureau of Latvia

This year data on producer prices are provided by more than 660 enterprises which, for the calculation of index, each month provide CSB with around 3.1 thousand prices, of which 1.6 thousand is on products sold on the domestic market and 1.5 thousand - on 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
Diāna Krūmiņa
Tel. +371 67366784