In October, the level of producer prices in industry fell by 0.2 %

22.11.2017

Data of the Central Statistical Bureau (CSB) show that, compared to September, in October 2017 the level of producer prices in Latvian industry dropped by 0.2 %. Prices of products sold on the domestic market decreased by 0.5 %, while prices of exported products went up by 0.1 %. Prices of products exported to euro area countries rose by 0.2 %, whereas prices of products exported to non-euro area countries almost did not change.

Over the month, downward pressure on the producer price changes was mainly exerted by steam and air conditioning supply as well as distribution of electricity, whereas manufacture of wood and of products of wood and cork, except furniture had upward effect.

Producer price changes in October 2017
(as per cent)

 

Weights

Price changes in October 2017, compared to

September 2017

October 2016

Industrial production total

100.0

-0.2

3.5

Mining and quarrying

2.6

0.7

0.6

Manufacturing

78.1

0.0

4.1

Electricity, gas, steam and air conditioning supply

15.3

-1.5

0.2

Water supply; sewerage, waste management and remediation activities

4.0

0.0

7.9

Products sold on the domestic market

100.0

-0.5

3.8

Mining and quarrying

1.9

0.3

1.9

Manufacturing

59.4

0.0

5.4

Electricity, gas, steam and air conditioning supply

31.5

-1.5

0.2

Water supply; sewerage, waste management and remediation activities

7.2

-0.4

7.2

Exported products

100.0

0.1

3.2

Mining and quarrying

3.3

1.0

-0.2

Manufacturing

95.7

0.0

3.2

Water supply; sewerage, waste management and remediation activities

1.0

2.8

13.1

 

In October 2017, compared to October 2016, the average level of producer prices in Latvian industry increased by 3.5 %. The level of prices of products sold on the domestic market went up by 3.8 % and that of exported products by 3.2 %. Prices of products exported to euro area countries rose by 4.8 % and of products exported to non-euro area countries by 2.2 %.

The most significant impact was made by the price increase in manufacture of food products, manufacture of wood and of products of wood and cork, except furniture, as well as in waste collection, treatment and disposal activities; materials recovery. Price changes in manufacture of computer, electronic and optical products, as well as manufacture of beverages, in turn, had the greatest lowering effect.

Producer price changes
(as per cent, compared to the corresponding month of the previous year)

 

This year, information on producer prices in industry is provided by more than 610 enterprises, which inform the CSB about approximately 2.6 thousand prices every month – 1.4 thousand of which are related to products and industrial services sold on the domestic market and 1.2 thousand relating to prices on the export markets, with the respective information being then used for index calculations.

More information on producer price changes is available CSB website sectionProducer Prices – Key Indicators.

Information on producer price changes in industry in November 2017 will be published on 21 December.

 

 

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More information on data:
Anita Merca
Producer Price Indices Section
E-mail: Anita [dot] Merca [at] csb [dot] gov [dot] lv
Phone: +371 67366784