Analytics, Industry, Latvia, Statistics

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Producer prices in Latvian industry increase 4.6% in January y-o-y

Baiba Alksnīte, Producer Price Indices Section, 21.02.2019.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to December 2018, in January 2019 the level of producer prices in Latvian industry rose by 0.1%. Prices of products sold on the domestic market grew by 0.4 %, but prices of exported products reduced by 0.2%. Prices of products exported to euro area countries grew by 0.1%, but prices of products exported to non-euro area – fell by 0.4%.

Over the month, producer price changes were mainly influenced by the rise in prices of waste collection, treatment and disposal activities, as well as of manufacture of selected food products. Gas and steam supply, as well as manufacture of wood and of products of wood and cork, except furniture, in turn, had downward effect.


Producer price changes in January 2019
(as %)


 

Weights

Price changes in January 2019 compared to

December 2018

January 2018

Industrial production – total

100.0

0.1

4.6

Mining and quarrying

2.6

0.8

4.6

Manufacturing

77.4

0.1

3.4

Electricity, gas, steam and air conditioning supply

16.1

-1.2

8.2

Water supply; sewerage, waste management and remediation activities

3.9

5.1

11.8

Products sold on the domestic market

100.0

0.4

6.4

Mining and quarrying

1.9

1.0

2.5

Manufacturing

57.2

0.6

4.5

Electricity, gas, steam and air conditioning supply

33.9

-1.2

8.2

Water supply; sewerage, waste management and remediation activities

7.0

6.0

13.6

Exported products

100.0

-0.2

2.9

Mining and quarrying

3.2

0.7

5.7

Manufacturing

95.7

-0.2

2.8

Water supply; sewerage, waste management and remediation activities

1.1

-0.1

1.6


In January 2019, compared to January 2018, the average level of producer prices in Latvian industry rose by 4.6%. The level of prices of products sold on the domestic market rose by 6.4% and that of exported products – by 2.9%. Prices of products exported to euro area countries grew by 3.4% and of products exported to non-euro area countries by – 2.5%.


Trade and manufacture of electricity, steam supply, as well as manufacture of wood and of products of wood and cork, except furniture, had the most notable upward effect.




This year, information on producer prices in industry is provided by more than 600 enterprises, which inform the CSB about approximately 2.4 thousand prices every month – 1.3 thousand of which are related to products and industrial services sold on the domestic market and 1.1 thousand relating to prices on the export markets, with the respective information being then used for index calculations.







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