In January, level of producer prices in industry reduced by 0.2 %

19.02.2016

Data compiled by Central Statistical Bureau (CSB) show that, compared to December 2015, in January 2016 level of producer prices in Latvian industry diminished by 0.2 %. Level of prices of products sold on domestic market grew by 0.1 %, while level of prices of exported products declined by 0.4 %. Level of prices of goods exported to euro area countries fell by 0.1 % and level of prices of products exported to non-euro area countries – by 0.6 %.

During month, the most notable price changes were caused by price reduction in repair and installation of machinery and equipment, in manufacture of fabricated metal products, except machinery and equipment, as well as in electricity, gas, steam and air conditioning supply.

Producer price changes in January 2016, per cent

 

Weights (%)

Price changes (%)

January 2016

compared to

December 2015

January 2015

Industrial production - total

100.0

-0.2

-2.0

 

Mining and quarrying

2.5

0.0

6.0

 

Manufacturing

74.9

-0.2

-1.4

 

Electricity, gas, steam and air conditioning supply

19.4

-0.2

-4.5

 

Water supply, sewerage, waste management and remediation activities

3.2

0.8

-5.1

Products sold on the domestic market

100.0

0.1

-2.9

 

Mining and quarrying

1.7

1.0

2.1

 

Manufacturing

55.3

0.2

-1.7

 

Electricity, gas, steam and air conditioning supply

37.6

-0.2

-4.7

 

Water supply, sewerage, waste management and remediation activities

5.4

1.2

-4.5

Exported products

100.0

-0.4

-0.9

 

Mining and quarrying

3.3

-0.5

8.7

 

Manufacturing

95.8

-0.4

-1.1

 

Water supply, sewerage, waste management and remediation activities

0.9

-1.7

-8.7

As compared to January 2015, in January 2016 average level of producer prices reduced by 2.0 %. Prices of products sold on domestic market declined by 2.9 %, and prices of exported products – by 0.9 %. Prices of goods exported to euro area countries fell by 1.3 % and prices of products exported to non-euro area countries – by 0.6 %.

The main price decrease was observed in electricity, gas, steam and air conditioning supply (of 0.9 percentage points), in manufacture of wood and of products of wood and cork, except furniture (of 0.7 percentage points), in manufacture of food products (of 0.4 percentage points), and in manufacture of other non-metallic mineral products (of 0.3 percentage points).

Changes in producer prices over corresponding month of the previous year, per cent

This year information on producer prices in industry is provided by more than 620 enterprises, which for index calculations every month inform CSB about approximately 2.8 thousand prices – 1.5 thousand of which regard products and industrial services sold on domestic market and 1.3 thousand regard prices on export markets.

More information on producer price changes is available in the CSB database section Producer prices.

Information on producer price changes in industry in February 2016 will be published on 21 March 2016.

 

 

Media requests:
Beate Danusēviča, Kristīne Romanovska
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Tel.: + 371 67366924, + 371 67366621, + 371 27880666
www.twitter.com/CSB_Latvia
www.facebook.com/csplatvija

 

More information on data:
Baiba Alksnīte
Producer Price Indices Section
E-mail: Baiba [dot] Alksnite [at] csb [dot] gov [dot] lv
Tel. + 371 67366696