On producer price changes in industry in 2008

22.01.2009

Compared to November 2008, producer prices in Latvian industry in December 2008 decreased by 0.6%, according to the data of Central Statistical Bureau of Latvia. Over the year (compared to December 2007) producer prices have increased by 9.5%.

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

2008 compared to 2007

4th quarter 2008 compared to

December 2008 compared to

3rd quarter 2008

4th quarter 2007

November 2008

December 2007

Industrial production, total of which:

11.5

-0.1

10.3

-0.6

9.5

sold on the domestic market

15.7

3.1

14.4

-0.3

13.5

exported

5.2

-6.5

2.7

-1.2

1.6

Compared to November last year, the overall level of producer prices in December was mostly effected by the price decrease in the manufacture of wood and wood products, except furniture (by 0.3 percentage points), in the manufacture of basic metals (by 0.2 percentage points), in the manufacture of food products and beverages, in the manufacture of chemicals, chemical products and man-made fibres, in the manufacture of furniture; manufacturing n. e. c., as well as in the manufacture of fabricated metal products, except machinery and equipment (by 0.1 percentage point in each activity). At the same time price rise in recycling increased the overall level of producer prices by 0.3 percentage points.

The increase of the tariffs of electricity, gas, steam and hot water supply left the biggest impact on the annual overall level of producer prices (increasing it by 7.6 percentage points). The price rise in the manufacture of food products and beverages increased the overall price level by 1.4 percentage points, in the manufacture of chemicals, chemical products and man-made fibres – by 0.4 percentage points, in the manufacture of fabricated metal products, machinery, mechanisms and equipment, as well as in the manufacture of other transport vehicles – by 0.3 percentage points in each activity. In its turn, the level of producer prices was mostly lowered by the price decrease in the manufacture of wood and wood products, except furniture – by 1.6 percentage points, in recycling – by 0.4 percentage points, in the manufacture of basic metals – by 0.1 percentage point.

Prepared by Price Statistics Department
Producer Price Indices Section
Tel. +371 67366784
Diāna Krūmiņa