Analytics, Industry, Latvia, Markets and Companies

The most significant impact was made by the price increase in manufacture of wood and of products of wood and cork, except furniture, as well as in manufacture of computer, electronic and optical products. Manufacture of selected food products and production and sale of electricity had downward effect.

Producer price changes in May 2018 (as per cent)

Compared to May 2017, in May 2018 the average level of producer prices in Latvian industry increased by 3.7%. The level of prices of products sold on the domestic market rose by 4.0% and that of exported products by 3.4%. Prices of products exported to euro area countries grew by 4.0% and of products exported to non-euro area countries by 2.9%.

Rise in prices in manufacture of wood and of products of wood and cork, except furniture, steam and air conditioning supply, trade of electricity, as well as manufacture of food products had the greatest upward impact. The largest price drop was recorded in manufacture of chemicals and chemical products, as well as manufacture of fabricated metal products, except machinery and equipment.

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 for June 2018 will be published on 20 July.