Press Release

In June level of producer prices in industry increased by 0.4 %

Data of the Central Statistical Bureau (CSB) show that, compared to May, in June 2019 the level of producer prices in Latvian industry rose by 0.4 %. Prices of products sold on the domestic market grew by 1.5 %, but prices of exported products reduced by 0.7 %. Prices of products exported to euro area countries decreased by 0.6 % and of products exported to non-euro area countries – by 0.8 %.

Over the month, producer price changes were mostly affected by price rise in electricity, gas, steam and air conditioning supply. Manufacture of products of wood and cork, except furniture, had downward effect.

Producer price changes in June 2019,
(as per cent)

 

Weights

Price changes in June 2019, compared to

May 2019

June 2018

Industrial production – total

100.0

0.4

2.5

Mining and quarrying

2.6

0.0

2.2

Manufacturing

77.4

-0.6

0.7

Electricity, gas, steam and air conditioning supply

16.1

5.2

9.4

Water supply; sewerage, waste management and remediation activities

3.9

-0.4

9.9

Products sold on the domestic market

100.0

1.5

5.8

Mining and quarrying

1.9

0.1

3.4

Manufacturing

57.2

-0.3

3.0

Electricity, gas, steam and air conditioning supply

33.9

5.2

9.4

Water supply; sewerage, waste management and remediation activities

7.0

-0.5

12.3

Exported products

100.0

-0.7

-0.4

Mining and quarrying

3.2

-0.1

1.4

Manufacturing

95.7

-0.7

-0.5

Water supply; sewerage, waste management and remediation activities

1.1

-0.4

-2.7

 

Compared to June 2018, in June 2019 average level of producer prices in Latvian industry increased by 2.5 %. The level of prices of products sold on the domestic market rose by 5.8 %, but that of exported products – fell by 0.4 %. Prices of products exported to euro area countries grew by 0.2 %, but of products exported to non-euro area countries – reduced by 1.0 %.

Production of electricity, heat supply and trade of electricity, as well as manufacture of selected food products had the most significant upward influence. Manufacture of products of wood and cork, except furniture, had downward effect.

This year, information on producer prices in industry is provided by more than 600 enterprises, which inform the CSB about approximately 2.4 thousand prices every month – 1.3 thousand of which are related to products and industrial services sold on the domestic market and 1.1 thousand relating to prices on the export markets, with the respective information being then used for index calculations.

Information on producer price changes in industry for July 2019 will be published on 21 August this year.

 

Media requests:
Communication Section
E-mail:
media@csb.gov.lv
Phone: +371 6
7366989, +371 27880666

More information on data:
Rita Brice
Producer Price Indices Section
E-mail: Rita.Brice@csb.gov.lv
Phone: +371 67366862

 

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