On producer price changes in industry in 2007

22.01.2008

Within a year (December 2007 compared to December 2006) producer prices in Latvian industry increased by 13.1%. Compared to November, in December producer prices have decreased by 0.1%. A year before – in December 2006, compared to December 2005, the prices increased by 13.2%, and compared to November 2006 the prices rose by 0.7%.

Producer price changes in industry by the direction of product sales
(in per cent)

2007 compared to 2006

4th quarter 2007
compared to

December 2007
compared to

3rd quarter 2007

4th quarter 2006

November 2007

December 2006

Industrial production, total
 of which:

16.1

1.8

14.3

-0.1

13.1

  sold on the domestic market

18.6

3.9

20.0

0.3

19.0

  exported

12.8

-1.1

6.7

-0.7

5.2

Compared to November, in December of the previous year the overall level of producer prices was mostly effected by the price decrease of 0.6 percentage points in the manufacture of wood and of products of wood, except furniture (mainly in the sawmilling and planning of wood, impregnation of wood). The price increase in the manufacture of food products and beverages (principally of fish, dairy, bread and grain mill products) increased the overall price level by 0.4 percentage points, in the manufacture of furniture; manufacturing n.e.c. – by 0.2 percentage points.

Compared to December 2006, in December 2007 the rise of prices in the manufacture of food products and beverages and the increase of electricity, gas, steam and hot water supply tariffs left the largest impact on the overall level of producer prices, increasing it by 4.3 and 2.9 percentage points respectively. The overall level of producer prices was raised by the following price increases: 1.5 percentage points in the manufacture of wood and products of wood, except furniture, 0.7 percentage points in the publishing, printing and reproduction of recorded media, as well as in the manufacture of other non-metallic mineral products.

Prepared by Price Statistics Department
Producer Price Indices Section
Tel. 67366813
Aleksandrs Gržibovskis