In January, producer prices in industry increased by 0.7 %

21.02.2017

According to data of the Central Statistical Bureau (CSB), compared to December 2016, the average level of producer prices in Latvian industry grew by 0.7 % in January 2017. The prices of products sold on the domestic market increased by 0.5 %, whereas the prices of exported products rose by 0.9 %. The prices of products exported to euro area countries grew by 0.7 % and of products exported to non-euro area countries – by 1.0 %.

During the month, changes in producer prices were mainly influenced by the price increase in the manufacture of food products, waste collection, treatment and disposal activities, materials recovery, as well as in manufacture of computer, electronic and optical products.

Producer price changes in January 2017, as per cent

 

Weights (%)

Price changes (%)

January 2017

compared to

December 2016

January 2016

Industrial production total

100.0

0.7

0.0

 

Mining and quarrying

2.6

0.3

0.4

 

Manufacturing

78.1

0.6

1.0

 

Electricity, gas, steam and air conditioning supply

15.3

0.5

-5.1

 

Water supply; sewerage, waste management and remediation activities

4.0

3.1

7.9

Products sold on the domestic market

100.0

0.5

-0.7

 

Mining and quarrying

1.9

0.8

-0.1

 

Manufacturing

59.4

0.2

1.3

 

Electricity, gas, steam and air conditioning supply

31.5

0.5

-5.1

 

Water supply; sewerage, waste management and remediation activities

7.2

3.7

9.5

Exported products

100.0

0.9

0.7

 

Mining and quarrying

3.3

0.0

0.6

 

Manufacturing

95.7

0.9

0.8

 

Water supply; sewerage, waste management and remediation activities

1.0

-0.5

-2.4


In January 2017, compared to January 2016, the average level of producer prices in Latvian industry has remained unchanged. The prices of goods sold on the domestic market have dropped by 0.7 %, whereas the prices of exported products have increased by 0.7 %. The prices of products exported to euro area countries have grown by 1.1 % and of products exported to non-euro area countries – by 0.6 %.

The most significant impact was caused by the price increase in the manufacture of food products, as well as waste collection, treatment and disposal activities, materials recovery, whereas the greatest lowering effect was caused by production and trade of electricity.

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

  

This year information on 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 Producer Prices – Key Indicators section of the CSB website.

Information on producer price changes in industry in February 2017 will be published on 21 March.

 

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