On producer price changes in industry in February 2010

19.03.2010

Compared to January 2010, producer prices in Latvian industry in February 2010 increased by 0.5%, according to the data of Central Statistical Bureau of Latvia. Rise of overall price level was characteristic both for goods sold on the domestic market and for exported products (respectively, by 0.3% and 0.9%). The overall level of producer prices was mostly influenced by price increase in the manufacture of wearing apparel (by 9.0%), in electricity, gas, steam and air conditioning supply (by 0.6%), in waste collection, treatment and disposal activities; materials recovery (by 9.2%), in the manufacture of basic metals (by 2.1%). In its turn the price decrease in the manufacture of food products (by 0.7%), in the manufacture of fabricated metal products, except machinery and equipment (by 1.0%), in the manufacture of furniture (by 2.2%) had the main lowering impact on the overall producer price level.

Over a year (compared to February 2009) producer prices in industry dropped by 4.7%. Reduction of price level of products sold on the domestic market was 8.1%, but prices of exported products increased by 0.8%. The drop of the tariffs of electricity, gas, steam and air conditioning supply by 14.7% had the biggest impact on the overall level of producer prices. The price level was affected also by decrease of prices in the manufacture of food products (by 5.5%), in the manufacture of other non-metallic mineral products (by 7.7%) and in the manufacture of basic metals (by 6.0%). In its turn, the price rise in waste collection, treatment and disposal activities; materials recovery by 29.7% had the main increasing impact on the overall producer price level.

Producer price changes over the corresponding month of the previous year 
 

 

Producer price changes in February 2010


Weights (%)

Price changes (%) in February 2010 compared to

January 2010

February 2009

Industrial production, total of which:

100.0

0.5

-4.7

Mining and quarrying

1.8

0.4

-7.3

Manufacturing

74.8

0.4

-2.5

Electricity, gas, steam and air conditioning supply

21.6

0.6

-14.7

Water supply, sewerage, waste management and remediation activities

1.8

6.8

20.5

Sold on the domestic market

100.0

0.3

-8.1

Mining and quarrying

1.3

-1.1

-14.0

Manufacturing

61.2

-0.2

-5.3

Electricity, gas, steam and air conditioning supply

35.4

0.6

-15.0

Water supply, sewerage, waste management and remediation activities

2.1

8.5

16.4

Exported

100.0

0.9

0.8

of which

mining and quarrying

2.6

1.5

-1.4

manufacturing

95.5

0.9

0.3

Since the corrections of data for the previous month were submitted by a number of enterprises, producer price index for January 2010 was recalculated. More detailed information can be found in the CSB data base.

Press release on producer price changes in industry in March 2010 will be published on 23 April 2010.

 

Prepared by Producer Price Indices Section
Diāna Krūmiņa
Tel. 67366784