In March producer prices in industry dropped by 0.2%

23.04.2014

Compared to February, producer prices in industry in March 2014 decreased by 0.2%, according to the data of Central Statistical Bureau (CSB) of Latvia. The prices of products sold on the domestic market dropped by 0.2%, and prices of exported products - by 0.1%; of which in exports to euro area countries increased by 0.2%, while in exports to non-euro area countries declined by 0.3%. Over the month producer prices were mostly affected by price drop in manufacture of computer, electronic and optical products and in manufacture of food products, as well as by price growth in manufacture of wood and wood products, except furniture.

In March 2014, compared to March 2013, the overall level of producer prices in the Latvian industry grew by 0.6%.The producer prices of products sold on the domestic market rose by 0.5%, and prices of exported products - by 0.8%. The price rise in manufacture of wood and wood products, except furniture (by 0.93 percentage points) and in electricity, gas, steam and air conditioning supply (by 0.3 percentage points) had the greatest increasing impact.  In its turn, the largest decreasing impact had drop of prices in manufacture of computer, electronic and optical products (by 0.46 percentage points) and in manufacture of chemicals and chemical products (by 0.15 percentage points).

Producer price changes in March 2014

 

Weights (%)

Price changes (%) in March 2014

compared to

February 2014

March 2013

Total industrial production

100.0

-0.2

0.6

 

Mining and quarrying

2.1

-0.4

1.9

 

Manufacturing

73.5

-0.1

0.6

 

Electricity, gas, steam and air conditioning supply

20.4

-0.2

1.5

 

Water supply, sewerage, waste management and remediation activities

4.0

-0.7

-2.6

Products sold on the domestic market

100.0

-0.2

0.5

 

Mining and quarrying

1.6

0.4

2.1

 

Manufacturing

54.8

-0.1

0.8

 

Electricity, gas, steam and air conditioning supply

36.9

-0.4

0.3

 

Water supply, sewerage, waste management and remediation activities

6.7

-0.4

-1.4

Exported products

100.0

-0.1

0.8

 

of which:

 

 

 

 

mining and quarrying

2.6

-1.0

1.8

 

manufacturing

94.0

-0.2

0.4

 

water supply, sewerage, waste management and remediation activities

1.2

-2.6

-7.7

 

Producer price changes in % 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 CSB with around 3.1 thousand prices, of which 1.6 thousand prices for products sold on the domestic market and 1.5 thousand - for exported products and industrial services.

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

Press release on producer price changes in industry for April will be published on May 23.

 

More information:
Producer Price Indices Section
Rita Brice
Tel. +371 67366862