Press Release

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

Data of the Central Statistical Bureau (CSB) show that, compared to August, in September 2020 the level of producer prices in Latvian industry increased by 0.3 %. The level of prices of products sold on the domestic market increased by 0.3 %, and prices of exported products – by 0.4 %. Producer prices of products exported to euro area countries decreased by 0.3 %, but prices of products exported to non-euro area countries rose by 1.0 %.

Manufacture of wood and of products of wood and cork, except furniture, as well as production of electricity had upward impact on the producer price changes. Manufacture of computer, electronic and optical products had downward impact on the producer price changes.

Producer price changes in September 2020
(as per cent)

 

Weights

Price changes in September 2020 compared to

August 2020

September 2019

Industrial production – total

100.0

0.3

-2.1

Mining and quarrying

2.6

-0.6

-3.3

Manufacturing

76.7

0.3

-0.7

Electricity, gas, steam and air conditioning supply

16.7

0.6

-8.3

Water supply; sewerage, waste management and remediation activities

4.0

0.3

0.0

Products sold on the domestic market

100.0

0.3

-3.2

Mining and quarrying

2.0

-0.2

-1.8

Manufacturing

55.8

0.2

-0.7

Electricity, gas, steam and air conditioning supply

34.7

0.6

-8.3

Water supply; sewerage, waste management and remediation activities

7.5

0.3

2.4

Exported products

100.0

0.4

-1.0

Mining and quarrying

3.2

-0.8

-4.1

Manufacturing

96.0

0.4

-0.7

Water supply; sewerage, waste management and remediation activities

0.8

-0.1

-19.3

In September 2020, compared to September 2019, the average level of producer prices in Latvian industry fell by 2.1 %. The level of prices of products sold on the domestic market reduced by 3.2 %, and prices of exported products decreased by 1.0 %. Prices of products exported to euro area countries fell by 1.1 %, prices of products exported to non-euro area countries – by 1.0 %.

Price drop of electricity, gas, steam and air conditioning supply had significant impact on the producer price changes. Repair and installation of machinery and equipment had upward effect on the producer prices.

Information on producer price changes in industry in October 2020 will be published on November 23.

Methodological information

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.

 

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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