On producer price changes in industry in February 2010

21.03.2011

Compared to January, the overall level of producer prices in Latvian industry in February 2011 increased by 0.7%, according to the data of Central Statistical Bureau of Latvia. Producer prices on the domestic market remained constant, but prices of exported goods grew by 1.6%. Major price increases were observed in the manufacture of wood and of products of wood, except furniture (of 2.5%), in the manufacture of food products and in the manufacture of basic metals (of 1.3% and 3.0%, respectively). However, the price decrease of 0.7% in the electricity, gas, steam and air conditioning supply left the biggest downward impact on the overall level of producer prices.

Compared to February of previous year, producer prices in industry in February 2011 grew by 8.6%. The rise in prices of products sold on the domestic market was 7.9%, but prices of exported products rose by 9.7%. The price increases in the manufacture of basic metals (of 40.1%), in the electricity, gas, steam and air conditioning supply (of 8.3%), in the manufacture of food products (of 9.8%), in the manufacture of wood and of products of wood, except furniture (of 9.8%) had the biggest upward impact on the overall level of producer prices.

Producer price changes over the corresponding month of the previous year

 

Producer price changes in February 2011

 

Weights (%)

Price changes (%) in February 2011 compared to

January 2011

February 2010

Total industrial production

100.0

0.7

8.6

 

Mining and quarrying

1.9

0.1

7.8

 

Manufacturing

70.2

1.3

8.4

 

Electricity, gas, steam and air conditioning supply

23.0

-0.7

8.3

 

Water supply, sewerage, waste management and remediation activities

4.9

-1.1

16.2

Products sold on the domestic market

100.0

0.0

7.9

 

Mining and quarrying

0.9

-0.6

4.1

 

Manufacturing

53.8

0.5

7.0

 

Electricity, gas, steam and air conditioning supply

38.4

-0.3

8.7

 

Water supply, sewerage, waste management and remediation activities

6.9

-1.3

16.5

Exported products

100.0

1.6

9.7

 

of which:

 

 

 

 

mining and quarrying

3.2

0.4

11.0

 

manufacturing

92.5

2.0

9.7

 

water supply, sewerage, waste management and remediation activities

2.2

-0.2

16.8

More detailed information can be found in the CSB data base.

Since the corrections of data for the previous month were submitted by respondents, producer price index for January 2011 was recalculated.

Press release on producer price changes in industry in March 2011 will be published on 21 April 2011.

 

Prepared by Producer Price Indices Section
Diāna Krūmiņa
Tel. 67366784