On producer price changes in industry in 2012

22.01.2013

Compared to 2011, the overall level of producer prices in Latvian industry in 2012 increased by 3.7% (prices of products sold at the domestic market grew by 5.2%, while prices of exported goods rose by 1.8%), according to the data of the Central Statistical Bureau of Latvia. Major price increases were observed in the manufacture of computer, electronic and optical products (of 12.5%), in the electricity, gas, steam and air conditioning supply (of 9.6%), in the mining and quarrying (of 7.8%), and in the manufacture of machinery and equipment n.e.c.(of 6.2%)

Compared to December 2011, producer prices in industry in December 2012 rose by 3.6%. The prices of goods sold at the domestic market grew by 4.2%, whereas prices of exported products increased by 2.9%. Price changes in the electricity, gas, steam and air conditioning supply (of 7.7%), in the manufacture of food products (of 5.1%), and in the manufacture of wood and products of wood, except furniture (of 1.7%) had the most significant upward impact on the overall level of producer prices. In its turn, the price drop in the manufacture of basic metals (of 4.2%) had the greatest lowering impact on the overall level of producer prices.

Compared to November 2012, the overall level of producer prices in December 2012 increased by 0.2%. Producer prices of the products sold at the domestic market diminished by 0.1%, whereas prices of exported goods rose by 0.7%. The overall level of producer prices was mostly influenced by the price increase in the manufacture of wood and products of wood, except furniture (of 1.0%), in the electricity, gas, steam and air conditioning supply (of 0.6%), and in the waste collection, treatment and disposal activities; materials recovery (of 3.7%). In its turn, the price reduction in the manufacture of basic metals (of 1.3%) and in the manufacture of chemicals and chemical products (of 1.5%) had the most significant lowering impact on the overall level of producer prices.

Producer price changes in industry in December 2012

 

Weights (%)

Price changes (%) in December 2012 compared to

November 2012

December 2011

Total industrial production

100.0

0.2

3.6

 

Mining and quarrying

2.0

0.7

9.9

 

Manufacturing

71.5

0.0

2.1

 

Electricity, gas, steam and air conditioning supply

22.2

0.6

7.7

 

Water supply, sewerage, waste management and remediation activities

4.3

2.5

4.9

Products sold at the domestic market

100.0

-0.1

4.2

 

Mining and quarrying

1.3

0.3

3.9

 

Manufacturing

53.7

-0.2

2.0

 

Electricity, gas, steam and air conditioning supply

39.2

-0.2

7.1

 

Water supply, sewerage, waste management and remediation activities

5.8

1.0

4.2

Exported products

100.0

0.7

2.9

 

of which:

 

 

 

 

mining and quarrying

2.9

0.9

13.1

 

manufacturing

93.2

0.1

2.1

 

water supply, sewerage, waste management and remediation activities

2.4

7.3

7.0

More detailed information is available in the CSB data base.

Press release on producer price changes in industry in January 2013 will be published on 21 February 2013.

 

Prepared by the Producer Price Indices Section
Diāna Krūmiņa
Tel. 67366784