In May producer prices in industry dropped by 0.5 %

20.06.2014

Compared to April, producer prices in industry in May 2014 decreased by 0.5%, according to the data of Central Statistical Bureau (CSB) of Latvia. The prices of products sold on the domestic market dropped by 1.0%, and prices of exported products - by 0.1%; of which in exports to euro area countries prices increased by 0.4% and in exports to non-euro area countries declined by 0.3%. Over the month producer price changes were mostly affected by price drop in electricity, gas, steam and air conditioning supply

In May 2014 compared to May of the previous year, the overall level of producer prices in the Latvian industry dropped by 0.1%.The producer prices of products sold on the domestic market decreased by 0.7%, whereas prices of exported products grew by 0.6%. The price drop in manufacture of computer, electronic and optical products had the greatest lowering impact (by 0.5 percentage points). In turn the price growth in the manufacture of wood and products of wood (except furniture) of 0.6 percentage points had the main increasing impact.

Producer price changes in May 2014

 

Weights (%)

Price changes (%) in May 2014

compared to

April 2014

May 2013

Total industrial production

100.0

-0.5

-0.1

 

Mining and quarrying

2.1

-0.1

-0.5

 

Manufacturing

73.5

0.0

0.0

 

Electricity, gas, steam and air conditioning supply

20.4

-2.5

-0.2

 

Water supply, sewerage, waste management and remediation activities

4.0

0.2

-0.3

Products sold on the domestic market

100.0

-1.0

-0.7

 

Mining and quarrying

1.6

-0.4

0.6

 

Manufacturing

54.8

0.1

0.9

 

Electricity, gas, steam and air conditioning supply

36.9

-2.8

-3.2

 

Water supply, sewerage, waste management and remediation activities

6.7

-0.1

0.4

Exported products

100.0

-0.1

0.6

 

of which:

 

 

 

 

mining and quarrying

2.6

0.2

-1.2

 

manufacturing

94.0

-0.2

-0.6

 

water supply, sewerage, waste management and remediation activities

1.2

2.0

-4.1

 

Producer price changes in % over the corresponding month of the previous year

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 - of products sold on the domestic market and 1.5 thousand - of 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 June will be published on July 21.

 

More information:

Producer Price Indices Section

Baiba Šmite

Tel. +371 67366696