On producer price changes in industry in February 2009

20.03.2009

Compared to January 2009 producer prices in Latvia’s industry in February decreased by 1.4%, in its turn, during a year (compared to February 2008) producer prices grew by 3.9%, according to data of Central Statistical Bureau.

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

in February 2009 compared to

January 2009

February 2008

Industrial production - total

of which:

-1.4

3.9

sold on the domestic market

-1.2

8.8

exported

-1.7

-4.0

Compared to January overall level of producer prices in February 2009 was influenced by the price decrease in the manufacture of wood and wood products, except furniture (by 0.5 percentage points)[1], in the manufacture of food products (by 0.4 percentage points)[2], in the manufacture of non-metallic mineral products (by 0.3 percentage points)[3], as well as by the growth of tariffs in electricity, gas, steam and air conditioning supply (by 0.1 percentage point)[4].

During a year growth of tariffs in electricity, gas, steam and air conditioning supply had the greatest impact on producer prices, increasing it by 7.0 percentage points. But price decrease of the manufacture of wood and wood products, except furniture lowered the level of producer prices by 2.4 percentage points, the manufacture of basic metals – by 1.3 percentage points and waste collection, treatment and disposal activities; materials recovery – by 0.5 percentage points.

[1] Mainly in sawmilling and planning of wood, as well as in manufacture of veneer sheets and wood-based panels

[2] Mainly in manufacture of meat and poultry meat products, as well as in operation of dairies and cheese making

[3] Mainly in manufacture of concrete products for construction purposes

[4] Mainly in production and distribution of electricity

Prepared by Price Statistics Department
Producer Price Indices Section
Tel. +371 67366784
Diāna Krūmiņa