Analytics, Industry, Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Thursday, 02.07.2020, 12:49

Latvia: Over a month level of producer prices in industry remained the same

Avita Zandberga Producer Price Indices Section, 21.02.2020.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to December 2019, in January 2020 the level of producer prices in Latvian industry didn't change. Prices of products sold on the domestic market reduced by 0.7%, but prices of exported products – increased by 0.7%. Prices of products exported to euro area countries increased by 0.4 % and prices of products exported to non-euro area countries – by 0.9%.

Over the month, the most significant impact on producer prices was made by the price drop in distribution of electricity, gas supply, manufacture and trade of electricity. Manufacture of wood and of products of wood and cork, except furniture, as well as manufacture of selected food products had upward effect.


In January 2020, compared to January 2019, the average level of producer prices in Latvian industry fell by 1.3%. The level of prices of products sold on the domestic market has dropped by 1.0 %, and prices of exported products – by 1.5%. Prices of products exported to euro area countries have reduced by 1.7% and of products exported to non-euro area countries – by 1.3%.


Producer price changes in January 2020

(as per cent)

 

Weights

Price changes in January 2020 compared to

December 2019

January 2019

Industrial production – total

100.0

0.0

-1.3

Mining and quarrying

2.6

-0.1

0.1

Manufacturing

76.7

0.6

-1.4

Electricity, gas, steam and air conditioning supply

16.7

-3.0

-1.2

Water supply; sewerage, waste management and remediation activities

4.0

1.6

-0.1

Products sold on the domestic market

100.0

-0.7

-1.0

Mining and quarrying

2.0

-0.3

1.1

Manufacturing

55.8

0.3

-1.4

Electricity, gas, steam and air conditioning supply

34.7

-3.0

-1.2

Water supply; sewerage, waste management and remediation activities

7.5

2.2

2.4

Exported products

100.0

0.7

-1.5

Mining and quarrying

3.2

0.1

-0.4

Manufacturing

96.0

0.7

-1.4

Water supply; sewerage, waste management and remediation activities

0.8

-4.1

-15.9



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 had 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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