Analytics, Industry, Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 01:51

In February level of producer prices in industry increased by 0.6% in Latvia

Avita Zandberga, Producer Price Indices Section, 22.03.2019.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to January, in February 2019 the level of , producer prices in Latvian industry rose by 0.6 %. Prices of products sold on the domestic market grew by 1.2 %, but prices of exported products remained the same. Prices of products exported to euro area countries fell by 0.6%, but prices of products exported to non-euro area – increased by 0.6%.

Data of the Central Statistical Bureau (CSB) show that, compared to January, in February 2019 the level of , producer prices in Latvian industry rose by 0.6%. Prices of products sold on the domestic market grew by 1.2%, but prices of exported products remained the same. Prices of products exported to euro area countries fell by 0.6%, but prices of products exported to non-euro area – increased by 0.6%.


Producer price changes February 2019
(as per cent)

 

Weights

Price changes in February 2019, compared to

January 2019

February 2018

Industrial production – total

100.0

0.6

4.7

Mining and quarrying

2.6

0.3

5.4

Manufacturing

77.4

-0.1

2.9

Electricity, gas, steam and air conditioning supply

16.1

3.7

11.0

Water supply; sewerage, waste management and remediation activities

3.9

1.1

12.5

Products sold on the domestic market

100.0

1.2

7.0

Mining and quarrying

1.9

0.1

4.3

Manufacturing

57.2

-0.2

3.6

Electricity, gas, steam and air conditioning supply

33.9

3.7

11.0

Water supply; sewerage, waste management and remediation activities

7.0

1.3

14.7

Exported products

100.0

0.0

2.6

Mining and quarrying

3.2

0.5

5.9

Manufacturing

95.7

0.0

2.5

Water supply; sewerage, waste management and remediation activities

1.1

0.2

0.8


Compared to February 2018, in February 2019 average level of producer prices in Latvian industry increased by 4.7%. The level of prices of products sold on the domestic market rose by 7.0% and that of exported products – by 2.6%. Prices of products exported to euro area countries grew by 2.3 % and of products exported to non-euro area countries by – 2.9%.

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



Since corrections of data were submitted by respondents, producer price index for January 2019 was recalculated.

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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