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In April, level of producer prices in Latvian industry increased by 0.6%

Rita Brice , Statistics Latvia, 23.05.2018.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to March, in April 2018 level of producer prices in the Latvian industry rose by 0.6%. Prices of products sold on the domestic market went up by 1.0% and prices of exported products by 0.3%. Prices of products exported to euro area countries grew by 1.1%, whereas prices of products exported to non-euro area countries fell by 0.4%.

Price increase in steam and air conditioning supply, distribution of electricity and production of electricity, manufacture of wood and of products of wood and cork, except furniture, as well as manufacture of food products had the greatest influence on producer price changes over the month. Manufacture of fabricated metal products, except machinery and equipment, in its turn, had the most notable downward effect.




Producer price changes in industry in April 2018 (as per cent)

 

Weights

Price changes in April 2018, compared to

March 2018

April 2017

Industrial production – total

100.0

0.6

4.0

Mining and quarrying

2.4

0.5

0.2

Manufacturing

76.5

0.3

4.1

Electricity, gas, steam and air conditioning supply

17.3

2.1

3.4

Water supply; sewerage, waste management and remediation activities

3.8

0.0

5.9

Products sold on the domestic market

100.0

1.0

4.6

Mining and quarrying

1.6

0.1

1.4

Manufacturing

56.4

0.5

5.1

Electricity, gas, steam and air conditioning supply

35.4

2.1

3.4

Water supply; sewerage, waste management and remediation activities

6.6

-0.1

4.9

Exported products

100.0

0.3

3.5

Mining and quarrying

3.1

0.7

-0.5

Manufacturing

95.7

0.2

3.5

Water supply; sewerage, waste management and remediation activities

1.2

0.8

13.3


Compared to April 2017, in April 2018 the average level of producer prices in Latvian industry increased by 4.0%. The level of prices of products sold on the domestic market rose by 4.6% and that of exported products by 3.5%.  Prices of products exported to euro area countries grew by 4.6%, whereas prices of products exported to non-euro area countries by 2.6%.


Rise in prices in manufacture of wood and of products of wood and cork, except furniture, trade of electricity, steam and air conditioning supply, as well as manufacture of food products had the greatest upward impact. Manufacture of chemicals and chemical products, as well as manufacture of computer, electronic and optical products, in its turn, had the most significant downward influence.


This year, information on producer prices in industry is provided by more than 600 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 in the CSB website section Producer Prices – Key Indicators.


Information on producer price changes in industry in May 2018 will be published on 21 June.






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