In July producer prices in industry grew by 0.2%

21.08.2014

Compared to June, producer prices in industry in July 2014 rose by 0.2%, according to the data of Central Statistical Bureau of Latvia. The producer prices of products sold on the domestic market rose by 0.5%, but prices of exported products reduced by 0.2%; of which in exports to non-euro area countries decreased by 0.5%, but to euro area countries - rose by 0.3%. Over the month producer price changes were mostly affected by price increase in electricity, gas, steam and air conditioning supply.

In July, compared to July of the previous year, the overall level of producer prices in the Latvian industry increased by 0.7%. The producer prices of products sold on the domestic market rose by 0.5%, but prices of exported products grew by 0.9%. However, the largest increasing impact had the price rise in the manufacture of wood and wood products, except furniture (by 0.7 percentage points), but the largest decreasing impact had reduction of prices in manufacture of computer, electronic and optical products (by 0.2 percentage points).

Producer price changes in July 2014

 

Weights (%)

Price changes (%) in July 2014

compared to

June 2014

July 2013

Total industrial production

100.0

0.2

0.7

 

Mining and quarrying

2.1

0.3

0.6

 

Manufacturing

73.5

-0.2

0.6

 

Electricity, gas, steam and air conditioning supply

20.4

1.0

0.4

 

Water supply, sewerage, waste management and remediation activities

4.0

3.6

5.3

Products sold on the domestic market

100.0

0.5

0.5

 

Mining and quarrying

1.6

-0.9

0.2

 

Manufacturing

54.8

-0.2

0.8

 

Electricity, gas, steam and air conditioning supply

36.9

1.0

-0.9

 

Water supply, sewerage, waste management and remediation activities

6.7

4.5

7.4

Exported products

100.0

-0.2

0.9

 

of which:

 

 

 

 

mining and quarrying

2.6

1.1

0.9

 

manufacturing

94.0

-0.3

0.5

 

water supply, sewerage, waste management and remediation activities

1.2

-2.0

-5.0

 

Producer price changes in % over the corresponding month of the previous year

Data source: Central Statistical Bureau of Latvia

This year data on producer prices are provided by more than 660 enterprises which, for the calculation of index, each month provide CSB with around 3.1 thousand prices, of which 1.6 thousand is on products sold on the domestic market and 1.5 thousand - on exported products and industrial services.

More detail information on producer price changes can be found in the CSB database in section Producer prices.

 

Press release on producer price changes in industry for August will be published on September 19.

More information:
Producer Price Indices Section
Baiba Šmite
Tel. +371 67366696