On producer price changes in industry in September 2010

21.10.2010

Compared to August, the overall level of producer prices in Latvian industry in September 2010 increased by 0.5%, according to the data of Central Statistical Bureau of Latvia. Rise of prices was characteristic both for goods sold on the domestic market (by 0.1%) and for exported goods where prices increased by 1.0%. Major price increases were in the manufacture of food products (by 2.3%), in the manufacture of basic metals (by 5.5%), in waste collection, treatment and disposal activities; materials recovery (by 12.4%), in the manufacture of wood and of products of wood, except furniture (by 1.0%), in the manufacture of other non-metallic mineral products (by 1.6%). However, the changes of the prices of electricity, gas, steam and air conditioning supply left the biggest downward impact on the overall level of producer prices (decrease by 1.9%).

Over a year (compared to September 2009) producer prices in industry increased by 7.1%. The rise in prices of products sold on the domestic market was 5.1%, but prices of exported products rose by 10.2%. The changes of the prices in the manufacture of wood and of products of wood, except furniture (growth of 16.0%), in electricity, gas, steam and air conditioning supply (of 6.7%), in the manufacture of basic metals (of 33.2%), in the manufacture of food products (of 5.1%) 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 September 2010

 

Weights (%)

Price changes (%) in September 2010 compared to

August 2010

September 2009

Total industrial production

100.0

0.5

7.1

 

Mining and quarrying

1.8

0.0

-0.9

 

Manufacturing

74.8

1.0

6.7

 

Electricity. gas. steam and air conditioning supply

21.6

-1.9

6.7

 

Water supply. sewerage. waste management and remediation activities

1.8

9.5

27.5

Products sold on the domestic market

100.0

0.1

5.1

 

Mining and quarrying

1.3

0.0

-7.4

 

Manufacturing

61.2

1.3

3.2

 

Electricity. gas. steam and air conditioning supply

35.4

-1.9

6.4

 

Water supply. sewerage. waste management and remediation activities

2.1

4.4

29.9

Exported products

100.0

1.0

10.2

 

of which:

 

 

 

 

mining and quarrying

2.6

0.0

4.2

 

manufacturing

95.5

0.8

10.1

 

Producer price changes in the 3rd quarter of 2010

 

Price changes (%) in the 3rd quarter of 2010 compared to

2nd quarter of 2010

3rd quarter of 2009

Total industrial production

1.8

6.8

 

Mining and quarrying

0.8

-1.2

 

Manufacturing

1.5

5.9

 

Electricity. gas. steam and air conditioning supply

3.3

7.8

 

Water supply. sewerage. waste management and remediation activities

-4.8

25.4

Products sold on the domestic market

2.2

4.6

 

Mining and quarrying

-0.3

-8.8

 

Manufacturing

1.6

1.8

 

Electricity. gas. steam and air conditioning supply

3.3

7.6

 

Water supply. sewerage. waste management and remediation activities

1.2

28.5

Exported products

1.1

10.1

 

of which:

 

 

 

mining and quarrying

1.5

4.9

 

manufacturing

1.5

10.0

Since the corrections of data for the previous month were submitted by respondents, producer price index for August 2010 was recalculated. More detailed information can be found in the CSB data base.

Press release on producer price changes in industry in October 2010 will be published on 22 November 2010.

 

Prepared by Producer Price Indices Section
Diāna Krūmiņa
Tel. 67366784