On producer price changes in industry in January 2011

21.02.2011

Compared to December 2010, producer prices in industry in January 2011 increased by 1.3%, according to the data of Central Statistical Bureau of Latvia. Growth of prices was observed both for goods sold on the domestic market (of 1.6%) and for exported goods (of 0.9%). Major price increases were observed in the manufacture of food products (of 2.3%), in waste collection, treatment and disposal activities; materials recovery (of 10.3%), in printing and reproduction of recorded media (of 10.2%), in the manufacture of basic metals (of 1.9%), in manufacture of rubber and plastic products (of 5.5%). However, the decrease of 0.9% in the prices in the manufacture of wood and of products of wood (except furniture) left the biggest downward impact on the overall level of producer prices.

Compared to January 2010, the overall level of producer prices in Latvian industry in January 2011 grew by 8.4%. The rise in prices of products sold on the domestic market was 8.3%, but prices of exported products rose by 8.5%. The changes of the prices in electricity, gas, steam and air conditioning supply (of 10.1%), in the manufacture of basic metals (of 38.7%), in the manufacture of food products and in the manufacture of wood and of products of wood, except furniture (of 7.7% in each activity) 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 January 2011

 

Weights (%)

Price changes (%) in January 2011 compared to

December 2010

January 2010

Total industrial production

100.0

1.3

8.4

 

Mining and quarrying

1.9

2.5

8.1

 

Manufacturing

70.2

1.2

7.3

 

Electricity, gas, steam and air conditioning supply

23.0

0.3

10.1

 

Water supply, sewerage, waste management and remediation activities

4.9

6.8

25.4

Products sold on the domestic market

100.0

1.6

8.3

 

Mining and quarrying

0.9

5.2

3.5

 

Manufacturing

53.8

1.9

6.4

 

Electricity, gas, steam and air conditioning supply

38.4

0.3

10.0

 

Water supply, sewerage, waste management and remediation activities

6.9

6.3

28.1

Exported products

100.0

0.9

8.5

 

of which:

 

 

 

 

mining and quarrying

3.2

1.4

12.2

 

manufacturing

92.5

0.7

8.1

In January 2011, similarly to the previous years, the weights used in the calculations of producer price index were updated. The breakdown of products sold in 2009 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 2010.

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

Press release on producer price changes in industry for February 2011 will be published on 21 March 2010.


Prepared by Producer Price Indices Section
Diāna Krūmiņa
Tel. 67366784