Analytics, Industry, Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Saturday, 04.07.2020, 15:24

Latvia: In December producer prices in industry decreased by 0.4%

Avita Zandberga Producer Price Indices Section, 24.01.2020.Print version
Data of the Central Statistical Bureau (CSB) show that compared to November, in December 2019 the level of producer prices in the Latvian industry has reduced by 0.4%.

 The level of prices of products sold on the domestic market has dropped by 0.2%, and prices of exported products by – 0.6%. Prices of products exported to euro area countries have reduced by 0.5% and of products exported to non-euro area countries – by 0.8%.


Over the month, the most significant impact on producer prices was made by the price drop in wood and of products of wood and cork, except furniture. Manufacture of selected food products had upward effect.



Producer price changes in December 2019
(as per cent)

 

Weights

Price changes in December 2019 compared to

November 2019

December 2018

Industrial production – total

100.0

-0.4

-1.1

Mining and quarrying

2.6

-0.3

1.0

Manufacturing

77.4

-0.5

-1.8

Electricity, gas, steam and air conditioning supply

16.1

-0.2

0.7

Water supply; sewerage, waste management and remediation activities

3.9

-0.3

3.4

Products sold on the domestic market

100.0

-0.2

0.1

Mining and quarrying

1.9

-0.4

2.4

Manufacturing

57.2

-0.2

-1.0

Electricity, gas, steam and air conditioning supply

33.9

-0.2

0.7

Water supply; sewerage, waste management and remediation activities

7.0

-0.2

6.3

Exported products

100.0

-0.6

-2.3

Mining and quarrying

3.2

-0.2

0.2

Manufacturing

95.7

-0.7

-2.2

Water supply; sewerage, waste management and remediation activities

1.1

-0.6

-12.5


Compared to December 2018, in December 2019 the level of producer prices in Latvian industry reduced by 1.1%. The level of prices of products sold on the domestic market has increased by 0.1%, but prices of exported products – decreased by 2.3%. Prices of products exported to euro area countries have reduced by 2.0% and of products exported to non-euro area countries by – 2.6%.


Manufacture of wood and of products of wood and cork, except furniture, had the most significant downward impact on the producer price changes during the year. Manufacture of selected food products, manufacture of other non-metallic mineral products, as well as waste collection, treatment and disposal activities had upward effect.




In 2019, the average 12-month level of producer prices in Latvian industry increased by 1.9 %, compared to the average 12-month level of 2018. Prices of products sold on the domestic market rose by 4.0 %, of exported products remained the same, of which prices of exports to euro area countries grew by 0.4 %, but of exports to non-euro area countries – fell by 0.3 %. Production and trade of electricity, heat supply, manufacture of selected food products, as well as waste collection, treatment and disposal activities had the most significant upward impact on the producer price changes during the year. Manufacture of wood and of products of wood and cork, except furniture, had the most significant downward impact on the producer price changes during the year.


 In 2019, information on producer prices in industry was provided by more than 600 enterprises, which informed the CSB about approximately 2.4 thousand prices every month – 1.3 thousand of which were 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.








Search site