Analytics, Industry, Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 01:59

In July, level of producer prices in industry increased by 0.9% in Latvia

Avita Zandberga, Producer Price Indices Section, 21.08.2018.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to June, in July 2018 level of producer prices in Latvian industry rose by 0.9%. Prices of products sold on the domestic market went up by 1.3% and prices of exported products by 0.5%. The level of prices of products exported to euro area countries did not change a that of products exported to non-euro area countries rose by 0.9%.

Over the month, the most significant impact on producer prices was made by the price increase in manufacture of wood and of products of wood and cork, except furniture, trade of electricity, production of electricity, distribution of gaseous fuels through mains, as well as steam and air conditioning supply. Distribution of electricity and manufacture of basic pharmaceutical products and pharmaceutical preparations, in its turn, had downward effect.


Producer price changes in July 2018
(as per cent)

 

Weights

Price changes in July 2018, compared to

June 2018

July 2017

Total industrial production

100.0

0.9

4.8

Mining and quarrying

2.4

0.5

2.0

Manufacturing

76.5

0.6

4.0

Electricity, gas, steam and air conditioning supply

17.3

1.2

7.0

Water supply; sewerage, waste management and remediation activities

3.8

5.8

10.5

Products sold on the domestic market

100.0

1.3

5.7

Mining and quarrying

1.6

-0.2

1.6

Manufacturing

56.4

0.8

4.1

Electricity, gas, steam and air conditioning supply

35.4

1.2

7.0

Water supply; sewerage, waste management and remediation activities

6.6

6.4

10.4

Exported products

100.0

0.5

3.9

Mining and quarrying

3.1

0.9

2.1

Manufacturing

95.7

0.5

3.9

Water supply; sewerage, waste management and remediation activities

1.2

2.6

12.5

 

Compared to July 2017, in July 2018 the average level of producer prices in Latvian industry increased by 4.8%.The prices of products sold on the domestic market rose by 5.7% and that of exported products by 3.9 %. Prices of products exported to euro area countries grew by 3.5% and prices of products exported to non-euro area countries by 4.2%.


Prices rise in manufacture of wood and of products of wood and cork, except furniture, electricity, steam and air conditioning supply, as well as manufacture of food products had the greatest upward impact. Manufacture of electrical equipment as well as manufacture of chemicals and chemical products, in its turn, had the most notable downward effect.




his 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.






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