In February, producer prices in industry increased by 0.4 %

21.03.2017

According to the data of the Central Statistical Bureau (CSB), compared to January, in February 2017 the average level of producer prices in Latvian industry grew by 0.4 %. The prices of products sold on the domestic market increased by 0.5 % and prices of exported products by 0.4%. The prices of products exported to euro area countries increased by 0.6 % and prices of products exported to non-euro area countries by 0.2 %.

Over the month, producer price changes were mainly influenced by the price increase in manufacture of food products, distribution of electricity, distribution of gaseous fuels through mains, as well as manufacture of fabricated metal products, except machinery and equipment.

Producer price changes in February 2017, as per cent

 

Weights (%)

Price changes (%)

February 2017

compared to

January 2017

February 2016

Industrial production total

100.0

0.4

1.3

 

Mining and quarrying

2.6

-0.3

0.3

 

Manufacturing

78.1

0.4

1.9

 

Electricity, gas, steam and air conditioning supply

15.3

0.6

-2.0

 

Water supply; sewerage, waste management and remediation activities

4.0

0.0

8.8

Products sold on the domestic market

100.0

0.5

1.1

 

Mining and quarrying

1.9

-0.6

-0.6

 

Manufacturing

59.4

0.6

2.3

 

Electricity, gas, steam and air conditioning supply

31.5

0.6

-2.0

 

Water supply; sewerage, waste management and remediation activities

7.2

-0.2

9.7

Exported products

100.0

0.4

1.6

 

Mining and quarrying

3.3

-0.1

0.8

 

Manufacturing

95.7

0.4

1.7

 

Water supply; sewerage, waste management and remediation activities

1.0

1.3

2.3

 

Compared to February 2016, in February 2017 the average level of producer prices in Latvian industry increased by 1.3 %. The prices of products sold on the domestic market rose by 1.1 % and prices of exported products by 1.6 %. The prices of products exported to euro area countries went up by 2.3 % and prices of products exported to non-euro area countries by 1.2 %.

The price increase in manufacture of food products, as well as waste collection, treatment and disposal activities, materials recovery had the strongest upward pressure on the price changes, whereas production of electricity had the greatest downward effect.

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

This year, information on the 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 CSB database section Producer Prices – Key Indicators.

Information on the producer price changes in industry in March 2017 will be published on 25 April.

 

 

Media requests:
Sanda Rieksta
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366621, +371 27880666
www.twitter.com/CSB_Latvia
www.facebook.com/csplatvija

 

More information on data:
Rita Brice
Producer Price Indices Section
E-mail: rita [dot] brice [at] csb [dot] gov [dot] lv
Phone: +371 67366862