On producer price changes in industry in June 2008

21.07.2008

Compared to May 2008, producer prices in Latvian industry in June 2008 increased by 1.3%, according to the data of Central Statistical Bureau of Latvia. Over the year (compared to June 2007) producer prices have increased by 12.9%.

Producer price changes in industry by the direction of product sales (in per cent)

I half of 2008 compared to

2nd quarter of 2008 compared to

June 2008 compared to

II half of 2007

I half of 2007

1st quarter of 2008

2nd quarter of 2007

May 2008

June 2007

Industrial production, total of which:

6.5

11.6

5.6

12.3

1.3

12.9

sold on the domestic market

8.3

16.6

6.8

18.0

1.1

17.6

exported

3.7

4.7

3.5

4.1

1.9

6.1

Compared to May, the overall level of producer prices in June was mostly effected (by 0.5 percentage points) by the price rise in the manufacture of basic metals. The price increase in the manufacture of food products and beverages, in the manufacture of fabricated metal products, except machinery and equipment, as well as in the tariffs of electricity, gas, steam and hot water supply increased the overall level of producer prices by 0.2 percentage points in each economic activity.

Over the year the price increase of the tariffs of electricity, gas, steam and hot water supply and of the manufacture of food products and beverages left the highest impact on the overall level of producer prices, increasing it by 4.7 and 4.3 percentage points, respectively. The price rose in the manufacture of basic metals increased the overall price level by 1.4 percentage points, in recycling – by 0.8 percentage points, in publishing, printing and reproduction of recorded media, in the manufacture of chemicals and chemical products, man-made fibres, in the manufacture of machinery and equipment n.e.c., as well as in the manufacture of furniture; manufacturing n.e.c. – by 0.4 percentage points in each economic activity. In the meantime, the greatest lowering impact (by 1.5 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