Analytics, Industry, Latvia, Statistics

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.