In October the level of producer prices in industry decreased by 0.6%

23.11.2015

According to the data of the Central Statistical Bureau of Latvia (CSB), compared to September level of producer prices in industry in October 2015 dropped by 0.6%. The level of prices of products sold on the domestic market decreased by 0.7%, prices of exported products – by 0.6%. The level of prices of products exported to euro area countries decreased by 0.9% and of products exported to non-euro area countries – by 0.4%. Over a month changes of producer prices were mostly affected by drop in prices of steam, electricity and air conditioning supply, in manufacture of wood and of products of wood, except furniture, as well as in recovery of sorted materials.

In October 2015, compared to October 2014, the average level of producer prices in the Latvian industry fell by 2.1%. The prices of goods sold on the domestic market decreased by 3.0%, level of prices of exported products – by 1.1%. The level of prices of products exported to euro area countries decreased by 1.0% and of products exported to non-euro area countries – by 1.1%. The most significant drop was recorded in prices of electricity, gas, steam and air conditioning (of 0.9 percentage points), in manufacture of food products (of 0.6 percentage points), and in manufacture of wood and of products of wood, except furniture (of 0.5 percentage points).

Producer price changes in October 2015, as per cent

 

Weight (%)

Price changes (%)

October 2015

compared to

September 2015

October 2014

Total industrial production

100.0

-0.6

-2.1

 

Mining and quarrying

2.1

-0.3

3.0

 

Manufacturing

74.3

-0.3

-1.4

 

Electricity, gas, steam and air conditioning supply

20.2

-1.3

-4.4

 

Water supply; sewerage, waste management and remediation activities

3.4

-3.0

-6.5

Products sold on the domestic market

100.0

-0.7

-3.0

 

Mining and quarrying

1.6

0.7

0.6

 

Manufacturing

55.9

0.0

-1.7

 

Electricity, gas, steam and air conditioning supply

36.9

-1.4

-4.7

 

Water supply; sewerage, waste management and remediation activities

5.6

-2.7

-5.8

Exported products

100.0

-0.6

-1.1

 

of which:

 

 

 

 

mining and quarrying

2.7

-1.0

4.6

 

manufacturing

94.5

-0.5

-1.2

 

water supply; sewerage, waste management and remediation activities

0.9

-5.4

-11.5

Producer price changes over the corresponding month of the previous year, as per cent

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 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 November 2015 will be published on 21 December.

 

 

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