In September, level of producer prices in industry rose by 0.3 %

20.10.2017

Data of the Central Statistical Bureau (CSB) show that, compared to August, in September 2017 the level of producer prices in Latvian industry grew by 0.3 %. Prices of products sold on the domestic market increased by 0.3 %, and prices of exported products went up by 0.2 %.  Prices of products exported to euro area countries rose by 0.7 %, whereas prices of products exported to non-euro area countries fell by 0.2 %.

Over the month, upward pressure on the producer price changes was mainly exerted by manufacture of wood and of products of wood and cork, except furniture, as well as manufacture of food products, whereas price changes in manufacture of computer, electronic and optical products, steam and air conditioning supply as well as production of electricity had downward effect.

Producer price changes in September 2017
(as per cent)

 

Weights

Price changes in September 2017, compared to

August 2017

September 2016

Industrial production total

100.0

0.3

3.3

Mining and quarrying

2.6

-0.9

-0.2

Manufacturing

78.1

0.4

4.1

Electricity, gas, steam and air conditioning supply

15.3

-0.4

-0.5

Water supply; sewerage, waste management and remediation activities

4.0

0.3

7.3

Products sold on the domestic market

100.0

0.3

3.5

Mining and quarrying

1.9

-0.4

2.7

Manufacturing

59.4

0.7

5.5

Electricity, gas, steam and air conditioning supply

31.5

-0.4

-0.5

Water supply; sewerage, waste management and remediation activities

7.2

0.1

7.4

Exported products

100.0

0.2

3.1

Mining and quarrying

3.3

-1.1

-1.7

Manufacturing

95.7

0.3

3.2

Water supply; sewerage, waste management and remediation activities

1.0

1.7

6.4

 

In September 2017, compared to September 2016, the average level of producer prices in Latvian industry increased by 3.3 %. The level of prices of products sold on the domestic market went up by 3.5 % and that of exported productsby 3.1 %. Prices of products exported to euro area countries rose by 4.0 % and of products exported to non-euro area countries – by 2.4 %.

The most significant impact was made by the price increase in manufacture of food products, manufacture of wood and of products of wood and cork, except furniture, as well as in waste collection, treatment and disposal activities; materials recovery. Price changes in production and distribution of electricity had the greatest lowering effect.

Producer price changes as compared to the corresponding month of the previous year
(as per cent)

 

This year, information on producer prices in industry is provided by more than 610 enterprises, which inform the CSB about approximately 2.6 thousand prices every month – 1.4 thousand of which are related to products and industrial services sold on the domestic market and 1.2 thousand relating to prices on the export markets, with the respective information being then used for index calculations.

More information on producer price changes is available CSB website section Producer Prices – Key Indicators.

Information on producer price changes in industry in October 2017 will be published on 22 November.

 

 

 

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More information on data:
Rita Brice
Producer Price Indices Section
E-mail: Rita [dot] Brice [at] csb [dot] gov [dot] lv
Phone: +371 67366862