On producer price changes in industry in March 2008

21.04.2008

Compared to February 2008, producer prices in Latvian industry in March 2008 increased on average by 0.6%, according to Central Statistical Bureau of Latvia. Over the year (compared to March 2007) producer prices have increased by 10.5%.

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


March 2008 compared to

1st quarter 2008 compared to

February 2008

March 2007

4th quarter 2007

1st quarter 2007

Industrial production, total

of which 

0.6

10.5

2.6

10.9

sold on the domestic market

0.3

14.7

2.8

15.1

exported

1.3

5.0

2.5

5.3

Compared to February, the overall level of producer prices in March 2008 was mostly effected (by 0.4 percentage points in each activity) by the increase of the tariffs of electricity, gas, steam and hot water supply (mostly in the steam and hot water supply and in the distribution of gaseous fuels) and by the price rise in the manufacture of basic metals. However, the price decrease in the manufacture of food products and beverages (mainly in the manufacture of dairy products and cheese), in the manufacture of fabricated metal products, except machinery and equipment, in the manufacture of furniture; manufacturing n.e.c. lowered the overall level of producer prices by 0.1 percentage point in each activity.

Over the year the price increase in the manufacture of food products and beverages left the biggest impact on the overall level of producer prices, increasing it by 4.3 percentage points. The increase of the tariffs of electricity, gas, steam and hot water supply raised the overall price level by 2.0 percentage points. The price rose in the manufacture of furniture; manufacture n.e.c. increased the overall price level by 0.7 percentage points, in publishing, printing and reproduction of recorded media, in the manufacture of other non-metallic mineral products, as well as in the manufacture of basic metals – by 0.5 percentage points in each activity.

Prepared by Price Statistics Department

Producer Price Indices Section

Tel. 67366813

Aleksandrs Gržibovskis