On producer price changes in industry in October 2011

22.11.2011

Compared to September 2011, the overall level of producer prices in Latvian industry in October 2011 did not change, according to the data of the Central Statistical Bureau of Latvia. Producer prices for the products sold in the domestic market decreased by 0.4%, while prices of exported goods increased by 0.5%. The most notable price decline was recorded in electricity, gas, steam and air conditioning supply (of 1.1%), in manufacture of basic metals (of 1.2%) and in waste collection, treatment and disposal activities; materials recovery (of 1.6%). In its turn, the price growth in manufacture of food products (of 0.9%) and in manufacture of chemicals and chemical products(of 6.4%) had the most significant increasing impact on the overall level of producer prices.

Compared to October 2010, producer prices in industry in October 2011 increased by 7.3%. The prices of products sold in the domestic market rose by 9.5%, whereas prices of exported products increased by 4.3%. Price changes in electricity, gas, steam and air conditioning supply (of 12.8%), in manufacture of food products (of 7.3%), in manufacture of basic metals (of 11.5%) and in manufacture of chemicals and chemical products (of 23.4%) had the most significant upward impact on the overall level of producer prices.

Producer price changes over the corresponding month of the previous year

 

Producer price changes in October 2011

 

Weights (%)

Price changes (%) in October 2011 as compared to

September 2011

October 2010

Total industrial production

100.0

0.0

7.3

 

Mining and quarrying

1.9

0.1

8.9

 

Manufacturing

70.2

0.4

5.6

 

Electricity, gas, steam and air conditioning supply

23.0

-1.1

12.8

 

Water supply, sewerage, waste management and remediation activities

4.9

-1.1

7.6

Products sold in the domestic market

100.0

-0.4

9.5

 

Mining and quarrying

0.9

0.0

16.1

 

Manufacturing

53.8

0.3

6.8

 

Electricity, gas, steam and air conditioning supply

38.4

-1.2

13.9

 

Water supply, sewerage, waste management and remediation activities

6.9

-0.9

8.3

Exported products

100.0

0.5

4.3

 

of which:

 

 

 

 

mining and quarrying

3.2

0.1

6.6

 

manufacturing

92.5

0.5

4.6

 

water supply, sewerage, waste management and remediation activities

2.2

-1.7

8.3

More detailed information is available in the CSB data base.

Since respondents have submitted corrections of the data for the previous month, the producer price index for September 2011 has been recalculated.

Press release on producer price changes in industry in November 2011 will be published on 21 December 2011.

 

Prepared by Producer Price Indices Section
Diāna Krūmiņa
Tel. 67366784