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In November, level of producer prices in Latvian industry increased by 0.1%

Rita Brice , Statistics Latvia, 21.12.2017.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to October, in November 2017 the level of producer prices in Latvian industry rose by 0.1%. Prices of products sold on the domestic market remained the same, while prices of exported products went up by 0.2%. Prices of products exported to euro area countries remained the same, whereas prices of products exported to non-euro area countries rose by 0.3%.

Over the month, upward pressure on the producer price changes was mainly exerted by manufacture of food products and manufacture of non-metallic mineral products. Steam and air conditioning supply as well as production of electricity had downward effect.

 

Producer price changes in November 2017 (as %)

 

Weights

Price changes in November 2017, compared to

October 2017

November 2016

Industrial production – total

100.0

0.1

3.3

Mining and quarrying

2.6

0.5

0.5

Manufacturing

78.1

0.1

3.8

Electricity, gas, steam and air conditioning supply

15.3

-0.3

0.2

Water supply; sewerage, waste management and remediation activities

4.0

0.0

7.2

Products sold on the domestic market

100.0

0.0

3.5

Mining and quarrying

1.9

0.6

2.0

Manufacturing

59.4

0.1

4.9

Electricity, gas, steam and air conditioning supply

31.5

-0.3

0.2

Water supply; sewerage, waste management and remediation activities

7.2

-0.1

6.2

Exported products

100.0

0.2

3.1

Mining and quarrying

3.3

0.5

-0.2

Manufacturing

95.7

0.1

3.1

Water supply; sewerage, waste management and remediation activities

1.0

1.0

14.4

 

In November 2017, compared to November 2016, the average level of producer prices in Latvian industry increased by 3.3%. The level of prices of products sold on the domestic market rose by 3.5% and that of exported products by 3.1%. Prices of products exported to euro area countries grew by 4.0% and of products exported to non-euro area countries by 2.5%.

 

The most significant impact was made by the price increase in manufacture of food products, manufacture of wood and of products of wood and cork, except furniture, as well as in waste collection, treatment and disposal activities; materials recovery. Price changes in manufacture of computer, electronic and optical products, as well as manufacture of chemicals, chemical products and man-made fibres, in turn, had the greatest lowering effect.

 

Producer price changes compared to the corresponding month of the previous year (as %)


 

This year, information on producer prices in industry is provided by more than 610 enterprises, which inform the CSB about approximately 2.6 thousand prices every month – 1.4 thousand of which are related to products and industrial services sold on the domestic market and 1.2 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 CSB website section Producer prices– Key Indicators.

Information on producer price changes in industry in December 2017 will be published on 22 January 2018.

 






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