Level of producer prices in October decreased by 0.5%

24.11.2014

According to the data of the Central Statistical Bureau of Latvia (CSB) compared to September producer price level in the Latvian industry in October 2014 dropped by 0.5%. Prices of products sold on the domestic market fell by 0.5%. The prices of exported products dropped by 0.4%, of which in exports to euro area countries increased by 0.1%, but in exports to non-euro area countries declined by 0.7%. Over the month producer price changes were mostly affected by price drop in electricity, steam and air conditioning supply.

In October 2014 compared to October of the previous year, the average level of producer prices in the Latvian industry decreased by 0.1%. The producer prices of products sold on the domestic market rose by 0.2%, whereas prices of exported products - reduced by 0.4%. The largest decreasing impact had reduction of prices in manufacture of food products (by 0.4 percentage points), which was affected by a Russian ban on food imports. In turn the price growth in the manufacture of wood and products of wood (except furniture) (by 0.2 percentage points) had the main increasing impact.

Producer price changes in October 2014

 

Weights (%)

Price changes (%) in October 2014 compared to

September 2014

October 2013

All industrial production

100.0

-0.5

-0.1

 

Mining and quarrying

2.1

1.1

0.6

 

Manufacturing

73.5

-0.3

-0.1

 

Electricity, gas, steam and air conditioning supply

20.4

-1.1

-0.9

 

Water supply; sewerage, waste management and remediation activities

4.0

-1.3

5.2

Products sold on the domestic market

100.0

-0.5

0.2

 

Mining and quarrying

1.6

0.4

-0.6

 

Manufacturing

54.8

-0.2

0.0

 

Electricity, gas, steam and air conditioning supply

36.9

-0.8

-0.5

 

Water supply; sewerage, waste management and remediation activities

6.7

-1.6

6.7

Exported products

100.0

-0.4

-0.4

 

of which:

 

 

 

 

mining and quarrying

2.6

1.5

1.4

 

manufacturing

94.0

-0.3

-0.2

 

water supply, sewerage, waste management and remediation activities

1.2

1.0

-3.4

 

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

Data source: Central Statistical Bureau of Latvia

This year data on producer prices are provided by more than 660 enterprises which for the calculation of index each month provide the CSB with around 3.1 thousand prices, of which 1.6 thousand prices are for products sold on the domestic market and 1.5 thousand - for exported products and industrial services.

More detail information on producer price changes is available in the CSB database in section Producer prices.

Press release on producer price changes in industry in November will be published on 19 December.

 

More information:
Producer Price Indices Section
Baiba Alksnīte
Tel. +371 67366696