In March level of producer prices in industry decreased by 0.1%

23.04.2015

According to the data of the Central Statistical Bureau of Latvia (CSB) compared to February level of producer prices in the Latvian industry in March 2015 dropped by 0.1%. Prices of products sold on the domestic market reduced by 0.8%. The prices of exported products rose by 0.6%, of which in exports to euro area countries increased by 0.5%, but in exports to non-euro area countries - by 0.8%. Over the month changes of producer prices were mostly affected by price drop in electricity, gas, steam and air conditioning supply, as well as by price rise in manufacture of wood and of products of wood, except furniture.

In March, compared to March 2014, the average level of producer prices in the Latvian industry decreased by 0.3%. Producer prices of products sold on the domestic market shrank by 0.4%, but prices of exported products – by 0.1%; of which in exports to euro area countries reduced by 0.5%, but in exports to non-euro area countries – remained at the level of the previous year. The most significant price drop was in the manufacture of food products (by 0.5 percentage points) and in electricity, gas, steam and air conditioning supply (by 0.2 percentage points).

Producer price changes in March 2015, %

 

Weights (%)

Price changes (%)

March 2015

compared to

February 2015

March 2014

Total industrial production

100.0

-0.1

-0.3

 

Mining and quarrying

2.1

0.5

1.7

 

Manufacturing

74.3

0.4

-0.2

 

Electricity, gas, steam and air conditioning supply

20.2

-1.8

-1.1

 

Water supply; sewerage, waste management and remediation activities

3.4

-1.8

2.1

Products sold on the domestic market

100.0

-0.8

-0.4

 

Mining and quarrying

1.6

-0.1

-0.5

 

Manufacturing

55.9

0.1

-0.4

 

Electricity, gas, steam and air conditioning supply

36.9

-1.9

-0.9

 

Water supply; sewerage, waste management and remediation activities

5.6

-2.1

3.2

Exported products

100.0

0.6

-0.1

 

of which:

 

 

 

 

mining and quarrying

2.7

1.0

3.2

 

manufacturing

94.5

0.6

-0.1

 

water supply, sewerage, waste management and remediation activities

0.9

1.0

-5.0

 

Producer price changes 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 640 enterprises which for the calculation of index each month provide the CSB with around 3 thousand prices, of which 1.6 thousand prices are for products sold on the domestic market and 1.4 thousand - for exported products and industrial services.

 

More detail information on producer price changes can be found in the CSB database in section Producer prices.

 

Press release on producer price changes in industry for April will be published on May 25.

 

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