Analytics, Industry, Latvia, Statistics

During the month, changes in producer prices were mainly affected by a price drop in steam and air conditioning supply, as well as production and distribution of electricity. countries rose by 0.2%.

In October 2016, compared to October 2015, the average level of producer prices fell by 1.4%. The prices of goods sold on the domestic market dropped by 2.3%, whereas the prices of exported products decreased by 0.5%. The prices of products exported to euro area countries decreased by 0.4% and of products exported to non-euro area countries – by 0.6%.

The biggest impact was caused by the drop in the prices of electricity, gas, steam and air conditioning supply, manufacture of non-metallic mineral products and in the manufacture of computer, electronic and optical products. In turn, growth was recorded in the prices of distribution of electricity and manufacture of wood and of products of wood and cork.

This year information on producer prices in industry is provided by more than 620 enterprises, which inform the CSB about approximately 2.8 thousand prices every month – 1.5 thousand of which are related to products and industrial services sold on the domestic market, and 1.3 thousand relating to prices on the export markets, with the respective information being then used for index calculations.