In July, the level of producer prices in industry grew by 0.4 %

21.08.2017

According to data of the Central Statistical Bureau (CSB), compared to June, in July 2017 the level of producer prices in Latvian industry rose by 0.4 %. The prices of products sold on the domestic market increased by 0.5 %, whereas the prices of exported products grew by 0.3 %. The prices of products exported to euro area countries rose by 0.5 % and of products exported to non-euro area countries – by 0.1 %.

During the month, changes in producer prices were mainly affected by a price increase in the manufacture of wood and of products of wood and cork, except furniture, as well as in the manufacture of food products. A lowering effect on the prices could be observed in the manufacture of fabricated metal products, except machinery and equipment, in distribution of electricity, as well as in steam and air conditioning supply.

 

Producer price changes in July 2017, as per cent

 

Weights (%)

Price changes (%)

July 2017

compared to

June 2017

July 2016

Industrial production total

100.0

0.4

3.6

 

Mining and quarrying

2.6

0.3

1.4

 

Manufacturing

78.1

0.5

3.9

 

Electricity, gas, steam and air conditioning supply

15.3

-0.4

2.3

 

Water supply; sewerage, waste management and remediation activities

4.0

0.8

6.2

Products sold on the domestic market

100.0

0.5

3.9

 

Mining and quarrying

1.9

0.2

3.7

 

Manufacturing

59.4

0.9

4.5

 

Electricity, gas, steam and air conditioning supply

31.5

-0.4

2.3

 

Water supply; sewerage, waste management and remediation activities

7.2

1.0

6.3

Exported products

100.0

0.3

3.4

 

Mining and quarrying

3.3

0.3

0.2

 

Manufacturing

95.7

0.3

3.5

 

Water supply; sewerage, waste management and remediation activities

1.0

-0.3

5.6

 

Compared to July 2016, in July 2017 the average level of producer prices in Latvian industry increased by 3.6 %. The prices of products sold on the domestic market increased by 3.9 %, while those of exported products grew by 3.4 %. The prices of products exported to euro area countries rose by 4.4 % and of products exported to non-euro area countries – by 2.7 %.

The most significant impact was caused by a price increase in the manufacture of food products, in the manufacture of wood and of products of wood and cork, except furniture, in distribution of electricity, in steam and air conditioning supply, as well as in distribution of gaseous fuels through mains. The greatest lowering effect was experienced in the production and trade of electricity, as well as in the manufacture of textiles.

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 August 2017 will be published on 21 September 2017.

 

 

 

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