In January, level of producer prices in industry increased by 0.9 %

21.02.2018

Data of the Central Statistical Bureau (CSB) show that, compared to December 2017, in January 2018, level of producer prices in Latvian industry rose by 0.9 %. Prices of products sold on the domestic market went up by 1.2 % and prices of exported products by 0.6 %. Prices of products exported to euro area countries grew by 0.4 % and prices of products exported to non-euro area countries by 0.8 %.

The most significant impact was made by the price increase in manufacture of wood and of products of wood and cork, except furniture, as well as in electricity production, steam and air-conditioning supply. Manufacture of selected food products had downward effect.

Producer price changes in industry; January 2018
(as per cent)

 

Weights

Price changes in January 2018, compared to

December 2017

January 2017

All industrial production

100.0

0.9

3.3

Mining and quarrying

2.4

-0.6

-1.1

Manufacturing

76.5

0.8

3.9

Electricity, gas, steam and air conditioning supply

17.3

1.3

0.4

Water supply, sewerage, waste management and remediation activities

3.8

1.9

5.5

Products sold on the domestic market

100.0

1.2

3.7

Mining and quarrying

1.6

0.7

1.0

Manufacturing

56.4

1.0

5.4

Electricity, gas, steam and air conditioning supply

35.4

1.3

0.4

Water supply, sewerage, waste management and remediation activities

6.6

2.2

4.3

Exported products

100.0

0.6

3.0

Mining and quarrying

3.1

-1.2

-2.2

Manufacturing

95.7

0.7

3.1

Water supply, sewerage, waste management and remediation activities

1.2

0.5

14.0

 

Compared to January 2017, in January 2018 average level of producer prices in Latvian industry increased by 3.3 %. Prices of goods sold on the domestic market grew by 3.7 % and prices of exported products by 3.0 %. Prices of products exported to euro area countries grew by 3.5 % and prices of products exported to non-euro area countries by 2.7 %.

Price rise was mainly affected by manufacture of wood and of products of wood and cork, except furniture, manufacture of food products, as well as waste collection, treatment and disposal activities; materials recovery. The largest price drop was recorded in manufacture of computer, electronic and optical products, as well as manufacture of chemicals and chemical products.

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

  

 

This year, information on producer prices in industry is provided by more than 600 enterprises, which informed the CSB about approximately 2.6 thousand prices every month – 1.4 thousand of which were 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 website section Producer Prices – Key Indicators.

Information on producer price changes in industry in February 2018 will be published on 21 March.

 

Media requests:
Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366621, +371 27880666

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