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In February, level of producer prices in Latvian industry increased by 0.5%

Sanda Rieksta , Statistics Latvia, 21.03.2018.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to January, in February 2018 level of producer prices in the Latvian industry rose by 0.5%. Prices of products sold on the domestic market grew by 0.7%, but prices of exported products went up by 0.3%. Prices of products exported to euro area countries increased by 0.4% and prices of products exported to non-euro area countries by 0.2%.

The most significant impact was made by the price increase in manufacture of wood and of products of wood and cork, except furniture, as well as in electricity production and trade. Manufacture of selected food products and manufacture of chemicals and chemical products had downward effect.


Producer price changes in industry; February 2018 (as per cent)

 

Weights

Price changes in February 2018, compared to

January 2018

February 2017

All industrial production

100.0

0.5

3.4

Mining and quarrying

2.4

-0.4

-1.3

Manufacturing

76.5

0.4

3.9

Electricity, gas, steam and air conditioning supply

17.3

1.0

0.8

Water supply; sewerage, waste management and remediation activities

3.8

0.5

6.0

Products sold on the domestic market

100.0

0.7

3.9

Mining and quarrying

1.6

-1.6

0.0

Manufacturing

56.4

0.6

5.5

Electricity, gas, steam and air conditioning supply

35.4

1.0

0.8

Water supply; sewerage, waste management and remediation activities

6.6

0.4

4.9

Exported products

100.0

0.3

3.0

Mining and quarrying

3.1

0.3

-1.9

Manufacturing

95.7

0.3

3.0

Water supply; sewerage, waste management and remediation activities

1.2

0.9

13.6


Compared to February 2017, in February 2018 average level of producer prices in Latvian industry increased by 3.4%. Prices of products sold on the domestic market rose by 3.9%, while prices of exported products went up by 3.0%. Prices of products exported to euro area countries grew by 3.3%, whereas prices of products exported to non-euro area countries rose by 2.8%.




Price rise was mainly affected by manufacture of wood and of products of wood and cork, except furniture, manufacture of food products, as well as waste collection, treatment and disposal activities; materials recovery. The largest price drop was recorded in manufacture of chemicals and chemical products, as well as manufacture of computer, electronic and optical products.


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.


More information on producer price changes is available in the CSB website section Producer Prices – Key Indicators.






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