Press Release

In October producer prices in industry decreased by 0.6 %

Data of the Central Statistical Bureau (CSB) show that, compared to September, in October 2019 the level of producer prices in Latvian industry dropped by 0.6 %. The level of prices of products sold on the domestic market dropped by 0.6 %, and prices of exported products – by 0.5 %. The level of prices of products exported to euro area countries decreased by 0.4 % and of products exported to non-euro area countries – by 0.6 %.

Over the month, the most significant impact on producer prices was made by the price drop in heat supply and manufacture of wood and of products of wood and cork, except furniture. Manufacture of basic pharmaceutical products and pharmaceutical preparations had upward effect.

Producer price changes in October 2019
(in per cent)

 

Weights

Price changes in October 2019, compared to

September 2019

October 2018

Industrial production – total

100.0

-0.6

-0.2

Mining and quarrying

2.6

0.1

1.2

Manufacturing

77.4

-0.4

-0.9

Electricity, gas, steam and air conditioning supply

16.1

-1.6

2.2

Water supply; sewerage, waste management and remediation activities

3.9

-0.6

2.7

Products sold on the domestic market

100.0

-0.6

1.7

Mining and quarrying

1.9

0.8

3.8

Manufacturing

57.2

-0.1

0.8

Electricity, gas, steam and air conditioning supply

33.9

-1.6

2.2

Water supply; sewerage, waste management and remediation activities

7.0

-0.4

5.6

Exported products

100.0

-0.5

-1.9

Mining and quarrying

3.2

-0.2

-0.2

Manufacturing

95.7

-0.5

-1.8

Water supply; sewerage, waste management and remediation activities

1.1

-2.3

-13.2

In October 2019, compared to October 2018, the average level of producer prices in the Latvian industry has dropped by 0.2 %. The level of prices of products sold on the domestic market has increased by 1.7 %, but prices of exported products – decreased by 1.9 %. Prices of products exported to euro area countries have reduced by 1.4 % and of products exported to non-euro area countries – by 2.3 %.

Manufacture of wood and of products of wood and cork, except furniture, had the most significant downward impact on the producer price changes during the year. Production and trade of electricity, as well as manufacture of selected food products had upward 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 November 2019 will be published on 20 December.

 

Media requests:
Communication Section
E-mail:
media@csb.gov.lv

Phone: +371 67366989, +371 27880666

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

 

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