In October, producer prices in industry decreased by 0.4 %

22.11.2016

Data compiled by the Central Statistical Bureau (CSB) show that, compared to September, in October 2016 the level of producer prices in Latvian industry decreased by 0.4 %. Prices of products sold on the domestic market dropped by 0.8 %, whereas the prices of exported products decreased by 0.1 %. The level of producer prices of exports to euro area countries dropped by 0.5 %, while the level of prices of exports to non-euro area countries rose by 0.2 %.

During the month, changes in producer prices were mainly affected by a price drop in steam and air conditioning supply, as well as production and distribution of electricity.

Producer price changes in October 2016, as per cent

 

Weights (%)

Price changes (%)

October 2016

compared to

September 2016

October 2015

Industrial production – total

100.0

-0.4

-1.4

 

Mining and quarrying

2.5

0.0

2.2

 

Manufacturing

74.9

0.0

-0.5

 

Electricity, gas, steam and air conditioning supply

19.4

-2.2

-6.0

 

Water supply; sewerage, waste management and remediation activities

3.2

-0.6

3.3

Products sold on the domestic market

100.0

-0.8

-2.3

 

Mining and quarrying

1.7

1.1

-0.2

 

Manufacturing

55.3

0.1

-0.4

 

Electricity, gas, steam and air conditioning supply

37.6

-2.2

-6.0

 

Water supply; sewerage, waste management and remediation activities

5.4

-0.2

4.5

Exported products

100.0

-0.1

-0.5

 

Mining and quarrying

3.3

-0.5

3.6

 

Manufacturing

95.8

0.0

-0.6

 

Water supply; sewerage, waste management and remediation activities

0.9

-3.2

-4.1

In October 2016, compared to October 2015, the average level of producer prices fell by 1.4 %. The prices of goods sold on the domestic market dropped by 2.3 %, whereas the prices of exported products decreased by 0.5 %. The prices of products exported to euro area countries decreased by 0.4 % and of products exported to non-euro area countries – by 0.6 %.

The biggest impact was caused by the drop in the prices of electricity, gas, steam and air conditioning supply, manufacture of non-metallic mineral products and in the manufacture of computer, electronic and optical products. In turn, growth was recorded in the prices of distribution of electricity and manufacture of wood and of products of wood and cork.

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

  

This year information on producer prices in industry is provided by more than 620 enterprises, which inform the CSB about approximately 2.8 thousand prices every month – 1.5 thousand of which are related to products and industrial services sold on the domestic market, and 1.3 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 in the Producer Prices – Key Indicators section of the CSB website.

Information on producer price changes in industry in November 2016 will be published on 21 December 2016.

 

Media requests:
Sanda Rieksta
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366621, +371 27880666
www.twitter.com/CSB_Latvia
www.facebook.com/csplatvija

 

More information on data:
Rita Brice
Producer Price Indices Section
E-mail: rita [dot] brice [at] csb [dot] gov [dot] lv
Phone: +371 67366862