On producer price changes in industry in May 2009

19.06.2009

Compared to April 2009, producer prices in Latvian industry in May 2009 decreased by 0.9%, according to the data of Central Statistical Bureau of Latvia. Over the year (compared to May 2008) producer prices have decreased by 4.8%.

Producer price changes (%) in five 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

 

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


Compared to April overall level of producer prices in May 2009 was lowered by decrease of tariffs in electricity, gas, steam and air conditioning supply (by 0.9 percentage points), by the price decrease in the manufacture of other non-metallic mineral products1) (by 0.2 percentage points), in the manufacture of food products and products of wood2) (except furniture), in the manufacture of rubber and plastic products (by 0.1 percentage point in each activity). At the same time the largest increasing impact had the price growth in the manufacture of basic metals (by 0.7 percentage points).

Over the year the manufacture of basic metals, as well as the manufacture of wood and products of wood had the biggest downward impact on the headline rate of producer prices (decreasing it by 2.9 and 2.5 percentage points, respectively), while the largest upward impact had the tariffs of electricity, gas, steam and air conditioning supply (by 2.4 percentage points).

 

Prepared by Price Statistics Department
Diāna Krūmiņa
Tel. 67366784

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1) mainly in the manufacture of concrete products for construction purposes
2) mainly in sawmilling and planing of wood.