On producer price changes in industry in January 2010

19.02.2010

Compared to December 2009, producer prices in Latvian industry in January 2010 increased by 0.8%, according to the data of Central Statistical Bureau of Latvia. Rise of overall price level was characteristic for exported products where prices increased by 2.8%, but price level of goods sold on the domestic market in January decreased by 0.4%.The overall level of producer prices in January 2010 was mostly influenced by price increase of food products (by 1.7%), basic metals (by 5.6%), wood and products of wood (by 1.6%), electric equipment (by 8.2%). In its turn the price decrease in printing and reproduction of recorded media by 6.4%, as well as drop of the tariffs of electricity, gas, steam and air conditioning supply by 0.4% had the main lowering impact on the overall producer price level.

Over the year (compared to January 2009) producer prices have decreased by 6.6%. Reduction of price level of products sold on the domestic market was 9.6%, but of exported products - 1.9%, which is the smallest price drop since January 2009.The drop of the tariffs of electricity, gas, steam and air conditioning supply by 15.4% had the biggest impact on the overall level of producer prices. The decrease of prices in the manufacture of food products was 6.7%, in the manufacture of non-metallic mineral products - 12.4% and in the manufacture of basic metals - 9.5%.

 Producer price changes over the corresponding month of the previous year
 

 

In January 2010, similarly to the previous years, the weights used in the calculations of producer price index were updated. The breakdown of products sold in 2008 that align with the structure of NACE Rev. 2 is used as the weights. The prices of December of the previous year serve as the base prices. In order to ensure consistency between the weights and the prices base period, the weights have been recalculated into prices of December 2009.

Producer price changes in January 2010


Weights (%)

Price changes (%) in January 2010 compared to

January 2009

December 2009

Total industrial production

100.0

-6.6

0.8

Mining and quarrying

1.8

-7.5

-0.1

Manufacturing

74.8

-4.7

1.1

Electricity, gas, steam and air conditioning supply

21.6

-15.4

-0.4

Water supply, sewerage, waste management and remediation activities

1.8

17.0

7.1

Sold on the domestic market

100.0

-9.6

-0.4

Mining and quarrying

1.3

-14.8

0.6

Manufacturing

61.2

-6.8

-0.4

Electricity, gas, steam and air conditioning supply

35.4

-15.8

-1.0

Water supply, sewerage, waste management and remediation activities

2.1

8.6

6.6

Exported

100.0

-1.9

2.8

of which

mining and quarrying

2.6

-0.2

-0.6

manufacturing

95.5

-2.5

2.5

 

More detailed information can be found in the CSB data base. Press release on producer price changes in industry for February 2010 will be published on 19 March 2010.

 

Prepared by Producer Price Indices Section
Inga Kunstvere
Tel. 67366852