In March, the level of producer prices in industry decreased by 0.5 %

21.04.2016

Data compiled by the Central Statistical Bureau (CSB) show that, compared to February, in March 2016 the level of producer prices in the Latvian industry decreased by 0.5 %.The level of prices of products sold on the domestic market dropped by 0.6 %, and prices of exported products – by 0.4 %. The level of prices of goods exported to euro area countries grew by 0.4 %, while the level of prices of products exported to non-euro area countries decreased by 0.8 %

During the month, the most notable price changes were caused by price reduction in electricity, gas, steam and air conditioning supply, as well as in manufacture of food.

Producer price changes in March 2016, per cent

 

Weights (%)

Price changes (%)

March 2016

compared to

February 2016

March 2015

Industrial production - total

100.0

-0.5

-3.1

 

Mining and quarrying

2.5

-0.1

3.7

 

Manufacturing

74.9

-0.3

-2.6

 

Electricity, gas, steam and air conditioning supply

19.4

-1.6

-6.2

 

Water supply; sewerage, waste management and remediation activities

3.2

0.7

-2.6

Products sold on the domestic market

100.0

-0.6

-3.8

 

Mining and quarrying

1.7

-0.1

1.9

 

Manufacturing

55.3

-0.1

-2.5

 

Electricity, gas, steam and air conditioning supply

37.6

-1.6

-6.3

 

Water supply; sewerage, waste management and remediation activities

5.4

0.4

-2.0

Exported products

100.0

-0.4

-2.4

 

Mining and quarrying

3.3

-0.1

5.0

 

Manufacturing

95.8

-0.4

-2.6

 

Water supply; sewerage, waste management and remediation activities

0.9

2.7

-6.3

In March 2016, as compared to March 2015, the average level of producer prices fell by 3.1 %. The prices of goods sold on the domestic market dropped by 3.8 %, and prices of exported products – by 2.4 %. Prices of products exported to euro area countries decreased by 1.5 % and of products exported to non-euro area countries - by 2.8 %.

The most significant price drop was recorded in electricity, gas, steam and air conditioning supply (of 1.2 percentage points), in manufacture of wood and products of wood, except furniture (of 0.7 percentage points), and in manufacture of food products (of 0.6 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 for index calculations every month inform the CSB about approximately 2.8 thousand prices – 1.5 thousand of which regard products and industrial services sold on the domestic market, and 1.3 thousand regard prices on the export markets.

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

Information on producer price changes in industry in April 2016 will be published on 23 May 2016.

Media requests:
Beate Danusēviča, Kristīne Romanovska
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone.: +371 67366924, +371 67366621, +371 27880666
www.twitter.com/CSP_Latvija
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