In May industrial producer prices increased by 1.4%

21.06.2006

Compared to April, producer prices in Latvian industry in May 2006 increased by 1.4%, according to the Central Statistical Bureau. Over the year (May 2006 over May 2005) producer prices have increased by 10.0%. In May 2005 prices increased by 0.3% compared to April but compared to May 2004 the increase was 8.2%.

Producer price indices and price changes in the five months of 2006 were as follows:

(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

Producer price changes depending on the direction of product sales are shown in the table:

(in per cent)

 

May 2006 compared to

April 2006

May 2005

Industrial production, total

1.4

10.0

of which:

 

 

sold on the domestic market

1.4

9.7

exported

1.4

10.3

Producer price indices and price changes in the most relevant industrial sectors in May 2006:

(in per cent)

   

Price index
(December 2005 = 100)

Price changes
in May 2006 compared to

April 2006

May 2005

Industry - Total

105.3

1.4

10.0

Mining and quarrying

107.2

-0.8

12.2

Manufacturing

104.3

1.1

8.9

Manufacture of food products and beverages

101.3

0.1

6.7

Manufacture of textiles

99.6

-0.2

1.1

Manufacture of wearing apparel; dressing and dyeing of fur

104.7

-1.8

5.9

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

100.9

0.8

3.7

Manufacture of pulp, paper and paper products

102.6

-1.1

1.0

Publishing, printing and reproduction of recorded media

99.7

-0.4

3.5

Manufacture of chemicals, chemical products and man-made fibres

101.9

2.1

6.0

Manufacture of rubber and plastic products

104.4

0.2

8.8

Manufacture of non-metallic mineral products

107.9

1.8

12.9

Manufacture of fabricated metal products (except machinery and equipment)

105.8

2.9

8.6

Manufacture of machinery and equipment

104.1

0.6

9.0

Manufacture of electrical machinery and apparatus

108.9

2.4

10.6

Manufacture of other transport equipment1

109.6

1.8

24.4

Manufacture of furniture; manufacturing n.e.c.

99.5

1.3

1.7

Electricity, gas and water supply

112.1

3.6

17.2

Electricity, gas, steam and hot water supply

112.7

3.7

17.6

Collection, purification and distribution of water

101.0

1.0

7.1

___________

1

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

Compared to April, the overall level of producer prices in May 2006 was mostly raised (by 0.4 percentage points) due to price increases in electricity, gas, steam and hot water supply (mainly in gas distribution through gas pipelines). The overall price level was raised by the following price increases: 0.2 percentage points in the manufacture of wood and of products of wood (except furniture; mainly in sawing, planing and impregnation) and 0.1 percentage point in each of the following activities: manufacture of chemicals, chemical products and man-made fibres, manufacture of non-metallic mineral products, manufacture of fabricated metal products (except machinery and equipment; mainly metallic structures and their components), manufacture of other transport vehicles as well as manufacture of furniture and manufacturing n.e.c.

Over the same period the price decreases in the manufacture of wearing apparel, dressing and dyeing of fur and in the manufacture of pulp, paper and paper products as well as in publishing, printing and reproduction of recorded media caused a slight lowering effect.

Over the year rises in the tariffs of electricity, gas, steam and hot water supply have made the greatest impact on the overall level of producer prices raising it by 2.1 percentage points. The overall price level was raised due to the following price increases: 1.5 percentage points in the manufacture of food products and beverages, 0.7 percentage points both in the manufacture of wood and of products of wood (except furniture) and in the manufacture of other transport vehicles, 0.5 percentage points in the manufacture of non-metallic mineral products and 0.3 percentage points in the manufacture of fabricated metal products (except machinery and equipment).

Prepared by the Producer Price Indices Section
Price Statistics Department
Inga Kunstvere
Tel. 7366852