On producer price changes in industry in July 2008

21.08.2008

Compared to June 2008, producer prices in Latvian industry in July 2008 increased by 0.3%, according to the data of Central Statistical Bureau of Latvia. Over the year (compared to July 2007) producer prices have increased by 12.4%.

Producer price changes (in per cent)

July 2008 compared to

June 2008

July 2007

Industrial production,
total of which:

0.3

12.4

sold on the domestic market

-0.2

16.2

exported

1.3

7.1

Compared to June, the overall level of producer prices in July was mostly effected by the price rise in the manufacture of food products and beverages, in the manufacture of base metals, as well as in the manufacture of furniture; manufacturing n.e.c. However, most significantly the overall level of producer prices was lowered by the price decrease in the manufacture of wood and wood products (except furniture) – by 0.2 percentage points.

Over the year the increase of the tariffs of electricity, gas, steam and hot water supply and the price rise in the manufacture of food products and beverages left the highest impact on the overall level of producer prices, increasing it by 4.5 and 4.2 percentage points, respectively. The price rise in the manufacture of base metals increased the overall price level by 1.8 percentage points, in waste recycling – by 0.8 percentage points, in the manufacture of chemicals and chemical products, man-made fibres, as well as in the manufacture of machinery and equipment n.e.c. – by 0.4 percentage points in each activity. In the meantime, the greatest lowering impact (by 1.9 percentage points) was furthered by the price decrease in the manufacture of wood and wood products (except furniture).

Prepared by Price Statistics Department
Producer Price Indices Section
Tel. 67366813
Aleksandrs Gržibovskis