In September, producer prices in industry increased by 0.3 %

21.10.2016

Data compiled by the Central Statistical Bureau (CSB) show that, compared to August, in September 2016 the level of producer prices in Latvian industry increased by 0.3 %. Prices of products sold on the domestic market increased by 0.1 %, whereas the prices of exported products rose by 0.4 %. The level of producer prices of exports to euro area countries increased by 0.6 %, while the level of prices of exports to non-euro area countries grew by 0.3 %.

During the month, changes in producer prices were mainly affected by a price increase in the manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials and in the manufacture of food products.

Producer price changes in September 2016, as per cent

 

Weights (%)

Price changes (%)

September 2016

compared to

August 2016

September 2015

Industrial production – total

100.0

0.3

-1.6

 

Mining and quarrying

2.5

0.1

1.8

 

Manufacturing

74.9

0.4

-0.9

 

Electricity, gas, steam and air conditioning supply

19.4

-0.1

-5.2

 

Water supply; sewerage, waste management and remediation activities

3.2

-0.1

0.9

Products sold on the domestic market

100.0

0.1

-2.2

 

Mining and quarrying

1.7

0.8

-0.6

 

Manufacturing

55.3

0.3

-0.5

 

Electricity, gas, steam and air conditioning supply

37.6

-0.1

-5.2

 

Water supply; sewerage, waste management and remediation activities

5.4

-0.3

2.0

Exported products

100.0

0.4

-1.0

 

Mining and quarrying

3.3

-0.3

3.1

 

Manufacturing

95.8

0.4

-1.1

 

Water supply; sewerage, waste management and remediation activities

0.9

1.6

-6.3

In September 2016, compared to September 2015, the average level of producer prices fell by 1.6 %. The prices of goods sold on the domestic market dropped by 2.2 %, whereas the prices of exported products decreased by 1.0 %. The prices of products exported to euro area countries decreased by 0.8 % and of products exported to non-euro area countries – by 1.1 %.

The biggest impact was caused by the drop in the prices of electricity production, gas, steam and air conditioning supply, manufacture of non-metallic mineral products and in the manufacture of computer, electronic and optical products. In turn, an increase was recorded in the prices of distribution of electricity.

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

  

Due to the fact that respondents have submitted data adjustments, the producer price index for August 2016 has been recalculated.

This year information on producer prices in industry is provided by more than 620 enterprises, which inform the CSB about approximately 2.8 thousand prices every month – 1.5 thousand of which are related to products and industrial services sold on the domestic market, and 1.3 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 in the Producer Prices – Key Indicators section of the CSB website.

Information on producer price changes in industry in October 2016 will be published on 22 November 2016.

 

Media requests:
Beate Danusēviča
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366924, +371 27880666
www.twitter.com/CSB_Latvia
www.facebook.com/csplatvija

 

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