In January 2014 producer prices in industry increased by 0.7%

21.02.2014

Compared to December 2013, producer prices in industry in January 2014 rose by 0.7%, according to the data of Central Statistical Bureau of Latvia. The rise in prices of products sold on the domestic market comprised 0.9%, but prices of exported products grew by 0.4%. Over the month increase of producer prices was mostly affected by price rise in electricity, gas, steam and air conditioning supply, in manufacture of food products and in manufacture of wood and of products of wood, except furniture.

In January 2014, compared to January 2013, the overall level of producer prices in Latvian industry grew by 0.6%. The producer prices of products sold on the domestic market rose by 0.1%, whereas prices of exported products - by 1.2%. However, the largest increasing impact had the price rise in the manufacture of wood and wood products, except furniture (by 0.9 percentage points), but the largest decreasing impact had reduction of prices in manufacture of computer, electronic and optical products (by 0.3 percentage points) and in the waste collection, treatment and disposal activities; materials recovery (by 0.2 percentage points).

Producer price changes in January 2014

 

Weights (%)

Price changes (%) in January 2014

compared to

December 2013

January 2013

Total industrial production

100.0

0.7

0.6

 

Mining and quarrying

2.1

1.1

1.8

 

Manufacturing

73.5

0.3

1.1

 

Electricity, gas, steam and air conditioning supply

20.4

2.3

0.0

 

Water supply, sewerage, waste management and remediation activities

4.0

-0.5

-4.7

Products sold on the domestic market

100.0

0.9

0.1

 

Mining and quarrying

1.6

0.3

1.6

 

Manufacturing

54.8

0.3

1.3

 

Electricity, gas, steam and air conditioning supply

36.9

2.0

-0.8

 

Water supply, sewerage, waste management and remediation activities

6.7

-0.1

-5.1

Exported products

100.0

0.4

1.2

 

of which:

 

 

 

 

mining and quarrying

2.6

1.7

1.9

 

manufacturing

94.0

0.3

0.9

 

water supply, sewerage, waste management and remediation activities

1.2

-2.8

-4.3

 

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

Data source: Central Statistical Bureau of Latvia

In January 2014, similarly to the previous years, weights used in the calculations of producer price index were updated which are based on structure of production sold on 2012.

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 February 2014 will be published on 21 March.

 

More information:
Producer Price Indices Section
Diāna Krūmiņa
Tel. +371 67366784