On producer price changes in industry in August 2011

21.09.2011

Compared to July, the overall level of producer prices in the Latvian industry in August 2011 has increased by 0.4%, according to the data of the Central Statistical Bureau of Latvia. Producer prices for the products sold in the domestic market grew by 0.8%, but prices of exported goods decreased by 0.1%. The most notable price growth was recorded in electricity, gas, steam and air conditioning supply (of 1.5%) and in waste collection, treatment and disposal activities; materials recovery (of 1.9%).In its turn, the decrease of 0.7% in manufacture of wood and products of wood (except furniture) had the most significant lowering impact on the overall level of producer prices.

Compared to August 2010, the producer prices in industry in August 2011 have increased by 7.8%. The prices of goods sold in the domestic market rose by 9.1%, but prices of exported production grew by 6.1%. Price changes in electricity, gas, steam and air conditioning supply (of 9.6%), in manufacture of food products (of 10.7%), in manufacture of basic metals (of 20.9%), and in manufacture of chemicals and chemical products (of 30.5%) had the most significant upward impact on the overall level of producer prices.

Producer price changes over the corresponding month of the previous year


Producer price changes in August 2011

 

Weights (%)

Price changes (%) in August 2011 compared to

July 2011

August 2010

Total industrial production

100.0

0.4

7.8

 

Mining and quarrying

1.9

-1.2

8.3

 

Manufacturing

70.2

0.0

7.0

 

Electricity, gas, steam and air conditioning supply

23.0

1.5

9.6

 

Water supply, sewerage, waste management and remediation activities

4.9

1.3

10.9

Products sold in the domestic market

100.0

0.8

9.1

 

Mining and quarrying

0.9

-0.7

15.9

 

Manufacturing

53.8

0.4

8.3

 

Electricity, gas, steam and air conditioning supply

38.4

1.4

10.4

 

Water supply, sewerage, waste management and remediation activities

6.9

0.4

5.2

Exported products

100.0

-0.1

6.1

 

of which:

 

 

 

 

mining and quarrying

3.2

-1.4

5.9

 

manufacturing

92.5

-0.3

6.0

 

water supply, sewerage, waste management and remediation activities

2.2

4.9

32.7

More detailed information is available in the CSB data base.

Since the corrections of data for the previous month were submitted by respondents, the producer price index for July 2011 has been recalculated.

Press release on producer price changes in industry in September 2011 will be published on 21 October 2011.


Prepared by Producer Price Indices Section
Diāna Krūmiņa
Tel. 67366784