Analytics, Industry, Latvia, Statistics

In December 2016, compared to November, the level of producer prices in Latvian industry rose by 0.4%.Prices of products sold on the domestic market increased by 0.7%, whereas prices of exported products remained unchanged. The level of producer prices of exports to euro area countries grew by 0.2%, while it remained at the same level for exports to non-euro area countries. During the month, changes in producer prices were mainly affected by a price increase in the manufacture of food products, as well as in steam and air conditioning supply and production of electricity.

Producer price changes in December 2016, as per cent

Producer price changes as compared to the corresponding month of the previous year, as per cent

In 2016, the average 12-month level of producer prices in Latvian industry decreased by 2.4%, compared to the average 12-month level of 2015. Prices of products sold on the domestic market dropped by 3.1%, whereas prices of exported products decreased by 1.6%. Prices of exports to euro area countries dropped by 1.2% and prices of exports to non-euro area countries reduced by 1.8%. The price drop was mainly affected by electricity, gas, steam and air conditioning supply, manufacture of wood and of products of wood and cork, except furniture, as well as manufacture of food products. The largest increase in prices was recorded in manufacture of wearing apparel and in other mining and quarrying.

In 2016, information on producer prices in industry was provided by more than 620 enterprises, which informed the CSB about approximately 2.8 thousand prices every month – 1.5 thousand of which were 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.