On producer price changes in industry in February 2012

21.03.2012

Compared to January, the overall level of producer prices in Latvian industry in February 2012 increased by 0.2%, according to the data of the Central Statistical Bureau of Latvia. The prices of products sold in the domestic market rose by 0.2%, whereas prices of exported products went up by 0.3%. The overall level of producer prices was mostly influenced by price increase in  manufacture of basic metals (of 3.5%), in electricity, gas, steam and air conditioning supply (of 0.9%), in waste collection, treatment and disposal activities; materials recovery (of 2.5%) and in manufacture of fabricated metal products, except machinery and equipment (of 1.6%).In its turn, the decrease of 1.2% in manufacture of wood and products of wood (except furniture) had the most significant lowering impact on the total producer price index.

Compared to February 2011, the overall level of producer prices in Latvian industry in February 2012 increased by 6.7%. The prices of goods sold in the domestic market grew by 9.7%, whereas prices of exported products rose by 2.7%. Major price increases were observed in electricity, gas, steam and air conditioning supply (of 20.0%), in manufacture of food products (of 3.8%) and in manufacture of basic metals (of 9.0%).

Producer price changes over the corresponding month of the previous year

 

Producer price changes in February 2012

 

Weights (%)

Price changes (%) in February 2012 compared to

January 2012

February 2011

Total industrial production

100.0

0.2

6.7

 

Mining and quarrying

2.0

0.1

6.4

 

Manufacturing

71.5

-0.1

3.0

 

Electricity, gas, steam and air conditioning supply

22.2

0.9

20.0

 

Water supply, sewerage, waste management and remediation activities

4.3

1.8

2.2

Products sold in the domestic market

100.0

0.2

9.7

 

Mining and quarrying

1.3

-0.4

10.5

 

Manufacturing

53.7

-0.1

3.7

 

Electricity, gas, steam and air conditioning supply

39.2

0.2

19.9

 

Water supply, sewerage, waste management and remediation activities

5.8

2.9

2.2

Exported products

100.0

0.3

2.7

 

of which:

 

 

 

 

mining and quarrying

2.9

0.4

5.0

 

manufacturing

93.2

-0.1

2.4

 

water supply, sewerage, waste management and remediation activities

2.4

-1.3

0.4

More detailed information is available in the CSB data base.

Press release on producer price changes in industry in March 2012 will be published on 24 April 2012.

 

Prepared by Producer Price Indices Section
Diāna Krūmiņa
tel. 67366784