On producer price changes in industry in September 2008

21.10.2008

Compared to August 2008, producer prices in Latvian industry in September 2008 decreased by 1.0%, according to the data of Central Statistical Bureau of Latvia. Over the year (compared to September 2007) producer prices have increased by 12.1%.

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


September 2008 compared to

3rd quarter 2008 compared to

August 2008

September 2007

2nd quarter 2008

3rd quarter 2007

Industrial production, total

-1.0

12.1

1.9

12.5

of which:

   sold on the domestic market

-0.6

14.3

1.1

15.3

   exported

-1.8

8.8

3.5

8.5


Compared to August, the overall level of producer prices in September was mostly effected by the price decrease in the manufacture of basic metals (by 0.5 percentage points), in the recycling (by 0.3 percentage points) and in the manufacture of furniture; manufacturing n.e.c. (by 0.1 percentage point). Price rise in the manufacture of other non-metallic mineral products left an increasing impact on the overall level of producer prices (by 0.1 percentage point).

The increase of the tariffs of electricity, gas, steam and hot water supply left the biggest impact on the overall price level (by 4.4 percentage points). Price increase in the manufacture of food products and beverages increased the overall level of producer prices by 3.5 percentage points, in the manufacture of basic metals – by 2.5 percentage points. In the meantime, the greatest lowering impact (by 1.8 percentage points) was furthered by the price decrease in the manufacture of wood and wood products (except furniture).

Prepared by Price Statistics Department
Producer Price Indices Section
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Diāna Krūmiņa