Analytics, Industry, Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Thursday, 18.04.2019, 20:05

In June, level of producer prices in industry increased by 1.0 % in Latvia

Avita Zandberga, Producer Price Indices Section, 20.07.2018.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to May, in June 2018 level of producer prices in Latvian industry rose by 1.0 %. Prices of products sold on the domestic market went up by 1.4 % and prices of exported products by 0.6%. Prices of products exported to euro area countries grew by 0.5% and prices of products exported to non-euro area countries by 0.6%.

Over the month, the most significant impact on producer prices was made by the price increase in electricity, gas, steam and air conditioning supply, manufacture of wood and of products of wood and cork, except furniture, as well as manufacture of fabricated metal products, except machinery and equipment. Manufacture of spirits, in its turn, had downward effect.

Producer price changes in June 2018
(as %)

 

Weights

Price changes in June 2018, compared to

May 2018

June 2017

Total industrial production

100.0

1.0

4.3

Mining and quarrying

2.4

1.3

1.7

Manufacturing

76.5

0.4

3.9

Electricity, gas, steam and air conditioning supply

17.3

3.8

5.3

Water supply; sewerage, waste management and remediation activities

3.8

0.4

5.4

Products sold on the domestic market

100.0

1.4

4.8

Mining and quarrying

1.6

0.1

2.0

Manufacturing

56.4

0.1

4.2

Electricity, gas, steam and air conditioning supply

35.4

3.8

5.3

Water supply; sewerage, waste management and remediation activities

6.6

0.2

4.8

Exported products

100.0

0.6

3.7

Mining and quarrying

3.1

1.9

1.5

Manufacturing

95.7

0.5

3.7

Water supply; sewerage, waste management and remediation activities

1.2

1.1

9.3

 

Compared to June 2017, in June 2018 the average level of producer prices in Latvian industry increased by 4.3%.Prices of products sold on the domestic market rose by 4.8% and those of exported products by 3.7%. Prices of products exported to euro area countries grew by 4.1% and prices of products exported to non-euro area countries by 3.4%.


Price 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 chemicals and chemical products, as well as manufacture of electrical equipment had the most notable downward effect.




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.\






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