On producer price changes in industry in August 2008

19.09.2008

Compared to July 2008, producer prices in Latvian industry in August 2008 increased by 0.9%, according to the data of Central Statistical Bureau of Latvia. Over the year (compared to August 2007) producer prices have increased by 13.1%.

Producer price changes (in per cent)

August 2008 compared to

July 2008

August 2007

Industrial production,
total of which:

0.9

13.1

sold on the domestic market

0.7

15.5

exported

1.4

9.8

Compared to July, the overall level of producer prices in August was mostly effected by the price rise in the manufacture of basic metals (by 0.5 percentage points), as well as in the manufacture of food products and beverages (by 0.2 percentage points). 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 0.3 percentage points) and in waste recycling (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 highest impact on the overall level of producer prices, increasing it by 4.5 and 4.1 percentage point, respectively. The price rise in the manufacture of basic metals increased the overall price level by 2.9 percentage points, in the manufacture of chemicals and chemical products, man-made fibres, in the manufacture of machinery and equipment n.e.c, as well as in waste recycling – by 0.5 percentage points, in publishing, printing and reproduction of recorded media, in the manufacture of other transport equipment, as well as in the manufacture of furniture; manufacturing n.e.c. – by 0.4 percentage points in each activity. In the meantime, the greatest lowering impact (by 2.3 percentage points) was furthered by the price decrease in the manufacture of wood and wood products (except furniture).

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