On producer price changes in industry in March 2009

23.04.2009

Compared to February, producer prices in Latvian industry in March 2009 decreased by 1.6%, according to Central Statistical Bureau of Latvia. Over the year (compared to March 2008) producer prices have increased by 1.5%.

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

Price changes (%) in March 2009 compared to

1st quarter of 2009 compared to

February 2009

March 2008

4th quarter of 2008

1st quarter of 2008

Industrial production, total:

of which:

-1.6

1.5

-3.0

4.2

sold on the domestic market

-0.9

7.5

-2.3

9.4

exported

-2.8

-8.0

-4.4

-4.3

Compared to February overall level of producer prices in March 2009 was lowered by the price decrease in the manufacture of basic metals (by 0.6 percentage points), in the manufacture of wood and wood products, except furniture [1] and in the manufacture of food products [2] (by 0.4 percentage points in each activity), in the waste collection, treatment and disposal activities; materials recovery [3], in the manufacture of furniture, as well as by the decrease of tariffs in electricity, gas, steam and air conditioning supply [4] (by 0.1 percentage point in each activity). At the same time the largest increasing impact had the price growth in printing and reproduction of recorded media (by 0.2 percentage points).

The increase of the tariffs of electricity, gas, steam and air conditioning supply left the biggest impact on the overall level of producer prices (increasing it by 6.6 percentage points). However, the largest decreasing impact had the price reduction in the manufacture of wood and wood products, except furniture (by 2.7 percentage points), in the manufacture of basic metals (by 2.3 percentage points) and in the waste collection, treatment and disposal activities; materials recovery (by 0.7 percentage points).

[1] mainly in sawmilling and planing of wood

[2] mainly in operation of dairies and cheese making, as well as in processing and preserving of fish

[3] mainly in recovery of sorted materials

[4] mainly in production and distribution of electricity

Prepared by Price Statistics Department
Producer Price Indices Section
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