On producer price changes in industry in April 2008

23.05.2008

Compared to March 2008, producer prices in Latvian industry in April 2008 increased by 3.3%, according to the data of Central Statistical Bureau of Latvia. Over the year (compared to April 2007) producer prices grew by 12.1%.

Producer price changes
(in per cent)

April 2008 compared to

March 2008

April 2007

Industrial production, total
of which:

3.3

12.1

sold on the domestic market

4.9

19.0

exported

0.1

2.3

Compared to March, the overall level of producer prices in April 2008 was mostly influenced by the increase of the tariffs of electricity, gas, steam and hot water supply (growth of 2.5 percentage points). The price increase in the manufacture of food products and beverages, in the manufacture of non-metallic mineral products and in the manufacture and recycling of basic metals increased the overall price level by 0.2 percentage points in each economic activity. However, most significantly the overall level of producer prices was lowered by the price decrease in the manufacture of wood and wood products (except furniture) – by 0.2 percentage points.

Over the year the increase of the tariffs of electricity, gas, steam and hot water supply and the price rise in the manufacture of food products and beverages left the biggest impact on the overall level of producer prices, increasing it by 4.6 and 4.5 percentage points, respectively. The price increases in the manufacture of non-metallic mineral products, as well as, in the manufacture of furniture; manufacture n.e.c. increased the overall price level by 0.7 percentage points, and in the manufacture of chemicals and chemical products, as well as, in recycling – by 0.4 percentage points in each economic activity. In the meantime, the greatest lowering impact (by 1.2 percentage points) was furthered by the price decrease in the manufacture of wood and wood products (except furniture).

Prepared by Price Statistics Department
Tel.  67366813
Aleksandrs Gržibovskis