In January level of producer prices in industry increased by 0.1%

20.02.2015

According to the data of the Central Statistical Bureau of Latvia, compared to December 2014, level of producer prices in Latvian industry in January 2015 rose by 0.1%. The prices of products sold on the domestic market grew by 0.5%, but prices of exported products reduced by 0.3%; of which in exports to euro area countries fell by 0.4% and in exports to non-euro area countries decreased by 0.1%. Over the month producer price changes were mostly affected by price rise in electricity.

In January, compared to January 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 0.1%, but prices of exported products reduced by 0.6%; of which in exports to euro area countries dropped by 0.5% and in exports to non-euro area countries decreased by 0.8%. The most significant price drop was in manufacture of food products (by 0.6 percentage points), but the largest increasing impact had price growth in electricity (by 0.2 percentage points).

Producer price changes in January 2015

 

Weights (%)

Price changes (%)

January 2015

compared to

December 2014

January 2014

Total industrial production

100.0

0.1

-0.3

 

Mining and quarrying

2.1

0.2

0.3

 

Manufacturing

74.3

-0.1

-0.9

 

Electricity, gas, steam and air conditioning supply

20.2

0.6

1.2

 

Water supply; sewerage, waste management and remediation activities

3.4

1.7

4.6

Products sold on the domestic market

100.0

0.5

0.1

 

Mining and quarrying

1.6

-0.3

0.2

 

Manufacturing

55.9

0.2

-0.9

 

Electricity, gas, steam and air conditioning supply

36.9

0.7

0.6

 

Water supply; sewerage, waste management and remediation activities

5.6

2.1

5.7

Exported products

100.0

-0.3

-0.6

 

of which:

 

 

 

 

mining and quarrying

2.7

0.4

0.4

 

manufacturing

94.5

-0.3

-1.0

 

water supply, sewerage, waste management and remediation activities

0.9

-0.6

-2.5

 

Producer price changes 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 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 in February will be published on 20 March.

 

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