In July, the level of producer prices in industry decreased by 0.1 %

19.08.2016

Data compiled by the Central Statistical Bureau (CSB) show that, compared to June, in July 2016 the level of producer prices in Latvian industry decreased by 0.1 %. The level of prices of products sold on the domestic market remained unchanged, whereas the prices of exported products fell by 0.3 %. The level of producer prices of exports to euro area countries dropped by 0.7 %, and the level of prices of exports to non-euro area countries decreased by 0.1 %.

During the month, changes in producer prices were mainly affected by a price decrease in the manufacture of computer, electronic and optical products, as well as a drop in the prices of electricity.

Producer price changes in July 2016, as per cent

 

Weights (%)

Price changes (%)

July 2016

compared to

June 2016

July 2015

Industrial production - total

100.0

-0.1

-3.1

 

Mining and quarrying

2.5

0.0

0.6

 

Manufacturing

74.9

-0.1

-2.0

 

Electricity, gas, steam and air conditioning supply

19.4

-0.3

-8.5

 

Water supply; sewerage, waste management and remediation activities

3.2

0.4

0.9

Products sold on the domestic market

100.0

0.0

-3.7

 

Mining and quarrying

1.7

-1.6

-1.7

 

Manufacturing

55.3

0.2

-1.1

 

Electricity, gas, steam and air conditioning supply

37.6

-0.3

-8.6

 

Water supply; sewerage, waste management and remediation activities

5.4

0.6

2.8

Exported products

100.0

-0.3

-2.5

 

Mining and quarrying

3.3

0.9

2.0

 

Manufacturing

95.8

-0.3

-2.6

 

Water supply; sewerage, waste management and remediation activities

0.9

-1.2

-11.6

In July 2016, compared to July 2015, the average level of producer prices fell by 3.1 %. The prices of goods sold on the domestic market dropped by 3.7 %, whereas the prices of exported products decreased by 2.5 %. The prices of products exported to euro area countries decreased by 2.0 % and of products exported to non-euro area countries – by 2.8 %.

The biggest impact was caused by the drop in the prices of electricity, gas, steam and air conditioning supply (of 1.7 percentage points), in the manufacture of food products (of 0.3 percentage points), and in the manufacture of wood and products of wood (except furniture) (of 0.2 percentage points).

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

This year information on producer prices in industry is provided by more than 620 enterprises, which inform the CSB about approximately 2.8 thousand prices every month – 1.5 thousand of which are related to products and industrial services sold on the domestic market, and 1.3 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 August 2016 will be published on 21 September 2016.

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