Press Release

In May the level of producer prices in industry decreased by 0.6 %

Data of the Central Statistical Bureau (CSB) show that, compared to April, in May 2019 the level of producer prices in Latvian industry fell by 0.6 %. Prices of products sold on the domestic market dropped by 0.5 % and prices of exported products by 0.6 %. Prices of products exported to euro area countries remained the same, whereas prices of products exported to non-euro area countries declined by 1.1 %.

Over the month, producer price changes were mostly affected by the reduction of prices in manufacture of wood and of products of wood and cork, except furniture, as well as heat and gas supply. Production and trade of electricity as well as manufacture of selected food products, in turn, had upward effect.

Producer price changes in May 2019
(as per cent)

 

Weights

Price changes in May 2019, compared to

April 2019

May 2018

Industrial production – total

100.0

-0.6

3.1

Mining and quarrying

2.6

0.1

3.5

Manufacturing

77.4

-0.6

1.7

Electricity, gas, steam and air conditioning supply

16.1

-0.4

7.9

Water supply; sewerage, waste management and remediation activities

3.9

-0.6

10.8

Products sold on the domestic market

100.0

-0.5

5.7

Mining and quarrying

1.9

0.5

3.4

Manufacturing

57.2

-0.6

3.5

Electricity, gas, steam and air conditioning supply

33.9

-0.4

7.9

Water supply; sewerage, waste management and remediation activities

7.0

-0.6

13.1

Exported products

100.0

-0.6

0.8

Mining and quarrying

3.2

-0.1

3.4

Manufacturing

95.7

-0.6

0.7

Water supply; sewerage, waste management and remediation activities

1.1

-0.2

-1.2

 

Compared to May 2018, in May 2019 the average level of producer prices in Latvian industry increased by 3.1 %. Prices of goods sold on the domestic market grew by 5.7 % and prices of exported products by 0.8 %. Prices of products exported to euro area countries grew by 1.3 % and prices of products exported to non-euro area countries by 0.3 %.

Production of electricity, trade of electricity, as well as manufacture of selected food products had the most significant upward influence. Manufacture of fabricated metal products, except machinery and equipment, in turn, 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 in June 2019 will be published on 19 July.

 

Media requests:
Communication Section
E-mail:
media@csb.gov.lv
Phone: +371 67366989, +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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