In July industrial producer prices increased by 0.8 %

21.08.2006

Compared to June, producer prices in Latvian industry in July 2006 increased by 0.8%, according to the Central Statistical Bureau. Over the year (July 2006 over July 2005) producer prices have increased by 11.4%. In July 2005 prices decreased by 0.7% compared to June but compared to July 2004 the increase was 5.8%.

Producer price indices and price changes in the seven months of 2006 were as follows
(in per cent)


Price index

(December 2005=100)

Price changes compared to

previous month

corresponding month of previous year

2006

January

101,3

1,3

7,1

February

102,1

0,8

7,2

March

103,6

1,5

8,3

April

103,9

0,3

8,8

May

105,3

1,4

10,0

June

106,0

0,6

9,7

July

106,8

0,8

11,4


 

Producer price changes depending on the direction of product sales are shown in the table
(in per cent)

July 2006 compared to

June 2006

July 2005

Industrial production, total

0,8

11,4

of which:

sold on the domestic market

0,7

10,7

exported

1,0

12,3

 

Producer price indices and price changes in the most relevant industrial sectors in July 2006
(in per cent)

Price index
(December 2005 = 100)

Price changes in July 2006 compared to

June 2006

July 2005

Industry - Total

106,8

0,8

11,4

Mining and quarrying

110,8

1,1

12,7

Manufacturing

105,9

0,9

10,4

Manufacture of food products and beverages

102,5

-0,4

7,1

Manufacture of textiles

101,2

1,1

3,2

Manufacture of wearing apparel; dressing and dyeing of fur

105,3

-2,3

7,2

Manufacture of wood and of products of wood (except furniture)

103,1

1,9

6,9

Manufacture of pulp, paper and paper products

113,8

8,0

10,9

Publishing, printing and reproduction of recorded media

97,0

-1,6

-0,8

Manufacture of chemicals, chemical products and man-made fibres

102,9

0,1

7,1

Manufacture of rubber and plastic products

105,5

0,2

9,7

Manufacture of non-metallic mineral products

112,6

1,2

15,5

Manufacture of fabricated metal products (except machinery and equipment)

107,9

1,8

8,1

Manufacture of machinery and equipment

107,0

1,3

8,6

Manufacture of electrical machinery and apparatus

106,3

-0,2

6,7

Manufacture of other transport equipment1

110,1

0,6

22,7

Manufacture of furniture; manufacturing n.e.c.

102,6

3,3

5,7

Electricity, gas and water supply

113,1

0,6

18,0

Electricity, gas, steam and hot water supply

113,5

0,5

18,5

Collection, purification and distribution of water

105,1

4,1

8,6

_____________________
1Shipbuilding and repair as well as the manufacture of railway rolling stock.

Compared to June, the overall level of producer prices in July was mostly raised (by 0.4 percentage points) due to price increases in the manufacture of wood and of products of wood (except furniture); mainly in sawing, planning and impregnation. The overall price level was raised by 0.1 percentage point due to price increases in the manufacture of pulp, paper and paper products, the manufacture of fabricated metal products (except machinery and equipment) and in the manufacture of furniture and manufacturing n.e.c. as well as due to the rises in the tariffs of electricity, gas, steam and hot water supply. In the same period the fall in the prices in the manufacture of food products and beverages, wearing apparel; dressing and dyeing of fur as well as in publishing, printing and reproduction of recorded media had a lowering effect (by 0.1 percentage point).

Over the year the rises in the tariffs of electricity, gas, steam and hot water supply have made the greatest impact on the overall level of producer prices raising it by 2.2 percentage points. The overall price level was raised due to the following price increases: 1.6 percentage points in the manufacture of food products and beverages, 1.4 percentage points in the manufacture of wood and of products of wood (except furniture), 0.6 percentage points in the manufacture of non-metallic mineral products as well as in the manufacture of other transport vehicles and 0.3 percentage points in the manufacture of fabricated metal products (except machinery and equipment).

 

Prepared by the Producer Price Indices Section

Price Statistics Department
Aleksandrs Grzibovskis
Tel. 7366813