On producer price changes in industry in June 2009

21.07.2009

Compared to May 2009, producer prices in Latvian industry in June 2009 decreased by 1.7%, according to the data of Central Statistical Bureau of Latvia. Over the year (compared to June 2008) producer prices have decreased by 7.8%.

Producer price changes (%) in six months of 2009 compared to


 

previous period

corresponding period of previous year

industrial production, total

of which

industrial production, total

of which

sold on the domestic market

exported

sold on the domestic market

exported

2009

January

-0.6

-0.7

-0.5

7.2

12.1

-0.8

 

February

-1.4

-1.2

-1.7

3.9

8.7

-4.0

 

March

-1.7

-1.0

-2.8

1.5

7.5

-8.0

 

I quarter

-3.0

-2.3

-4.4

4.1

9.4

-4.3

 

April

-0.9

-0.9

-0.9

-2.6

1.3

-9.0

 

May

-0.9

-2.0

1.1

-4.8

-1.9

-9.9

 

June

-1.7

-1.8

-1.6

-7.8

-4.6

-13.1

 

II quarter

-3.5

-3.8

-3.1

-5.1

-1.7

-10.7


Compared to May overall level of producer prices in June 2009 was lowered by decrease of tariffs in electricity, gas, steam and air conditioning supply1) (by 0.8 percentage points), by the price decrease in the manufacture of basic metals (by 0.4 percentage points), in the manufacture of food products2) (by 0.3 percentage points), in the manufacture of fabricated metal products, except machinery and equipment and in the manufacture of furniture (by 0.1 percentage point in each activity). At the same time main increasing impact had the price growth in the manufacture of wood and products of wood, except furniture3) (by 0.1 percentage point).

Over the year, the largest lowering impact on the overall level of producer prices had price drop in the manufacture of basic metals (by 4.1 percentage point), in the manufacture of wood and products of wood (except furniture) (by 2.4 percentage points), in the manufacture of food products (by 1.2 percentage points), in waste collection, treatment and disposal activities; materials recovery (by 1.1 percentage point). However, the increase of the tariffs of electricity, gas, steam and air conditioning supply left the biggest impact on the overall level of producer prices (by 1.5 percentage points).


Prepared by Price Statistics Department
Diāna Krūmiņa
Tel. 67366784

1) mainly in steam and air conditioning supply, as well as in distribution of gaseous fuels through mains
2) mainly in operation of dairies and cheese making
3) mainly in sawmilling and planing of wood