On producer price changes in industry in February 2008

25.03.2008

Compared to January, producer prices in Latvian industry in February 2008 rose by 1.7%, according to Central Statistical Bureau of Latvia. Over the year (compared to February 2007) producer prices have increased by 11.4%.

Producer price changes in industry by the direction of product sales
(in per cent)

February 2008 compared to

January 2008

February 2007

Industrial production,
  total of which:

1.7

11.4

     sold on the domestic market

1.8

15.5

     exported

1.5

5.7

Compared to January, the overall level of producer prices in February 2008 was mostly raised due to the increase of the tariffs of electricity, gas, steam and hot water supply (by 0.6 percentage points). The rise in prices of the manufacture of basic metals increased the overall level of producer prices by 0.5 percentage points, of the manufacture of food products and beverages – by 0.4 percentage points. However, most significantly (by 0.3 percentage points) the overall level of producer prices was lowered by the price decrease in the manufacture of wood and wood products (except furniture).

Over the year the price increase in the manufacture of food products and beverages left the biggest impact on the overall level of producer prices, increasing it by 4.7 percentage points. The increase of the tariffs of electricity, gas, steam and hot water supply raised the overall price level by 1.7 percentage points. The overall level of producer prices was effected by the following price increases: 0.7 percentage points in the manufacture of furniture; manufacturing n.e.c., 0.6 percentage points in the manufacture of other non-metallic mineral products and 0.5 percentage points in the manufacture of fabricated metal products, except machinery and equipment.

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