On producer price changes in industry in October 2008

24.11.2008

Compared to September 2008, producer prices in Latvian industry in October 2008 increased by 1.4%, according to the data of Central Statistical Bureau of Latvia. Over the year (compared to October 2007) producer prices have increased by 11.5%.

Producer price changes (in per cent)


October 2008 compared to

September 2008

October 2007

Industrial production, total
of which:

1.4

11.5

sold on the domestic market

3.9

15.5

exported

-3.6

4.3


Compared to September, the overall level of producer prices in October 2008 was mostly influenced increase in the tariffs of gas, as well as of steam and hot water supply (accordingly by 2.3 and 1.2 percentage points). However, the greatest lowering impact was furthered by the price decrease in the manufacture of basic metals (by 1.0 percentage point), in recycling (by 0.4 percentage points), in manufacture of other non-metallic mineral products (by 0.3 percentage points).

The increase of the tariffs of electricity, gas, steam and hot water supply left the biggest impact on the overall price level (increasing it by 7.9 percentage points). The price rise in the manufacture of food products and beverages increased the overall price level by 2.6 percentage points, in the manufacture of basic metals – by 0.8 percentage points, in the manufacture of chemicals and chemical products, man-made fibres – by 0.5 percentage points, in publishing, printing and reproduction of recorded media, in the manufacture of fabricated metal products, except machinery and equipment, as well as in the manufacture of machinery and equipment n.e.c. – by 0.4 percentage points in each activity. In the meantime, the overall level of producer prices was mostly lowered by the price decrease in the manufacture of wood and products of wood, except furniture – by 2.2 percentage points, in recycling – by 0.4 percentage points, in the manufacture of other non-metallic mineral products – by 0.3 percentage points.

Prepared by Price Statistics Department
Producer Price Indices Section
Tel. 67366813
Aleksandrs Gržibovskis