On producer price changes in industry in 2011

20.01.2012

Compared to 2010, the overall level of producer prices in Latvian industry in 2011 increased by 7.7% (prices of products sold in the domestic market grew by 8.7%, but prices of exported goods rose by 6.2%), according to the data of the Central Statistical Bureau of Latvia. Major price increases were observed in manufacture of chemicals and chemical products (of 25.7%), manufacture of basic metals (of 20.0%), printing and reproduction of recorded media (of 15.6%), and waste collection, treatment and disposal activities; materials recovery (of 12.7%).

Compared to December 2010, producer prices in industry in December 2011 rose by 6.5%. The prices of goods sold in the domestic market grew by 8.5%, whereas prices of exported products increased by 3.8%. Price changes in electricity, gas, steam and air conditioning supply (of 12.1%), in manufacture of food products (of 6.7%), in manufacture of basic metals (8.4%), and in manufacture of chemicals and chemical products (of 16.7%) had the most significant upward impact on the overall level of producer prices.

Compared to November, the overall level of producer prices in Latvian industry in December 2011 decreased by 0.1%. Producer prices of the products sold in the domestic market remained stable, while prices of exported goods diminished by 0.3%. The overall level of producer prices was mostly influenced by the price decrease in manufacture of wood and products of wood (except furniture) (of 1.2%) and in electricity, gas, steam and air conditioning supply (of 0.5%).

Producer price changes over the corresponding month of the previous year

 

Producer price changes in industry in December 2011

 

Weights (%)

Price changes (%) in December 2011 as compared to

November 2011

December 2010

Total industrial production

100.0

-0.1

6.5

 

Mining and quarrying

1.9

0.2

4.6

 

Manufacturing

70.2

0.0

5.1

 

Electricity, gas, steam and air conditioning supply

23.0

-0.5

12.1

 

Water supply, sewerage, waste management and remediation activities

4.9

-0.1

0.7

Products sold in the domestic market

100.0

0.0

8.5

 

Mining and quarrying

0.9

-0.7

14.4

 

Manufacturing

53.8

-0.3

5.4

 

Electricity, gas, steam and air conditioning supply

38.4

0.1

13.8

 

Water supply, sewerage, waste management and remediation activities

6.9

1.5

1.3

Exported products

100.0

-0.3

3.8

 

of which:

 

 

 

 

mining and quarrying

3.2

0.6

0.8

 

manufacturing

92.5

0.2

4.9

 

water supply, sewerage, waste management and remediation activities

2.2

-6.7

-1.6

More detailed information is available in the CSB data base.

Press release on producer price changes in industry in January 2012 will be published on 21 February 2012.

 

Prepared by Producer Price Indices Section
Diāna Krūmiņa
Tel. 67366784