In June industrial producer prices increased by 0.6 %

21.07.2006

Compared to May, producer prices in Latvian industry in June 2006 increased by 0.6%, according to the Central Statistical Bureau. Over the year (June 2006 over June 2005) producer prices have increased by 9.7%. In June 2005 prices increased by 0.9% compared to May but compared to June 2004 the increase was 7.0%.

Producer price indices and price changes in the six months of 2006
(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

 

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

June 2006 compared to

QII 2006 compared to

May 2006

June 2005

QI 2006

QII 2005

Industrial production, total

0,6

9,7

2,7

9,5

of which:

sold on the domestic market

0,7

10,0

2,6

9,5

exported

0,5

9,3

2,7

9,5

 

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

 

Price index
(December 2005 = 100)

Price changes in June 2006 compared to

May 2006

June 2005

Industry - Total

106,0

0,6

9,7

Mining and quarrying

109,6

2,2

13,5

Manufacturing

105,0

0,6

8,6

Manufacture of food products and beverages

102,9

1,7

7,0

Manufacture of textiles

100,1

0,5

2,2

Manufacture of wearing apparel; dressing and dyeing of fur

107,8

2,9

8,9

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

101,1

0,2

3,3

Manufacture of pulp, paper and paper products

105,3

2,6

2,3

Publishing, printing and reproduction of recorded media

98,6

-1,1

0,6

Manufacture of chemicals, chemical products and man-made fibres

102,8

0,8

6,3

Manufacture of rubber and plastic products

105,3

0,8

9,5

Manufacture of non-metallic mineral products

111,3

3,2

16,4

Manufacture of fabricated metal products (except machinery and equipment)

106,0

0,2

5,3

Manufacture of machinery and equipment

105,6

1,5

8,2

Manufacture of electrical machinery and apparatus

106,5

-2,2

7,5

Manufacture of other transport equipment1

109,5

-0,1

23,9

Manufacture of furniture; manufacturing n.e.c.

99,3

-0,2

1,6

Electricity, gas and water supply

112,4

0,2

16,9

Electricity, gas, steam and hot water supply

112,9

0,2

17,3

Collection, purification and distribution of water

101,0

0,0

7,1

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

Compared to May, the overall level of producer prices in June 2006 was mostly raised due to price increases in the manufacture of food products and beverages (by 0.4 percentage points) and in the manufacture of wearing apparel; dressing and dyeing of fur as well as in the manufacture of non-metallic mineral products (by 0.1 percentage point in each activity).

Over the year the rises of the tariffs of electricity, gas, steam and hot water supply and price increases in the manufacture of food products and beverages have made the greatest impact on the overall level of producer prices raising it by 2.0 and 1.6 percentage points, respectively. The overall price level was raised due to the following price increases: 0.7 percentage points in the manufacture of wood and of products of wood except furniture and 0.6 percentage points in the manufacture of non-metallic mineral products as well as in the manufacture of other transport vehicles.

Compared to the 1st quarter, producer prices in the 2nd quarter of 2006 increased on average by 2.7%. The most notable prices increases were 6.0% in electricity production, gas, steam and hot water supply, 5.7% in the manufacture of wearing apparel; dressing and dyeing of fur, 3.8% in the manufacture of non-metallic mineral products and 3.2% in the manufacture of electrical machinery and apparatus as well as in the manufacture of other transport equipment. Over the same period there have been price decreases in the manufacture of textiles and in publishing, printing and reproduction of recorded media (0.3% in each activity).

Compared to the corresponding period last year, producer prices in the 2nd quarter this year rose on average by 9.5%. There were notable price increases in the manufacture of other transport equipment (by 25%), electricity generation, gas, steam and hot water supply (16.0%), in the manufacture of non-metallic mineral products (13.3%) and in mining and quarrying (12.8%).

Prepared by the Producer Price Indices Section
Price Statistics Department
Aleksandrs Grzibovskis
Tel. 7366813