On producer price changes in industry in March 2011

21.04.2011

Compared to February, the overall level of producer prices in Latvian industry in March 2011 increased by 0.8%, according to the data of Central Statistical Bureau of Latvia. Producer prices on the domestic market grew by 0.2%, but prices of exported goods rose by 1.6%.The most notable price increases were recorded in the manufacture of chemicals and chemical products (16.5%), in the manufacture of basic metals (by 3.3%), in the manufacture of food products (by 1.0%), in the manufacture of beverages (by 1.9%), in the waste collection, treatment and disposal activities; materials recovery (by 1.6%), in the manufacture of wood and products of wood, except furniture (by 0.3%).In its turn, price decrease of 0.5% in electricity, gas, steam and air conditioning supply had the most significant lowering impact.

Compared to March 2010, the producer prices in industry in March 2011 increased by 8.6%.The prices of products sold on the domestic market rose by 7.9%, but prices of exported products grew by 9.6%.Price changes in the manufacture of food products (9.9%), as well as in manufacture of basic metals (32.7%), in the electricity, gas, steam and air conditioning supply (7.8%), and in the manufacture of wood and products of wood, except furniture (9.1%) had the biggest upward impact on the overall level of producer prices.

Producer price changes over the corresponding month of the previous year

 

Producer price changes in March 2011

 

Weights (%)

Price changes (%) in March 2011 compared to

February 2011

March 2010

Total industrial production

100,0

0,8

8,6

 

Mining and quarrying

1,9

1,8

11,4

 

Manufacturing

70,2

1,2

8,6

 

Electricity, gas, steam and air conditioning supply

23,0

-0,5

7,8

 

Water supply, sewerage, waste management and remediation activities

4,9

1,1

12,7

Products sold on the domestic market

100,0

0,2

7,9

 

Mining and quarrying

0,9

1,2

6,7

 

Manufacturing

53,8

0,8

7,6

 

Electricity, gas, steam and air conditioning supply

38,4

-0,6

8,4

 

Water supply, sewerage, waste management and remediation activities

6,9

-0,1

9,0

Exported products

100,0

1,6

9,6

 

of which

 

 

 

 

mining and quarrying

3,2

2,1

15,2

 

manufacturing

92,5

1,5

9,5

 

water supply, sewerage, waste management and remediation activities

2,2

5,8

26,7

More detailed information can be found in the CSB data base.

Since the corrections of data for the previous month were submitted by respondents, producer price index for February 2011 was recalculated.

Press release on producer price changes in industry in April 2011 will be published on 23 May 2011.

 

Prepared by Producer Price Indices Section
Diāna Krūmiņa
Tel. 67366784