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Friday, 29.03.2024, 06:35
In 2017, the level of producer prices in Latvian industry grew by 3.1%
The most significant impact
was made by the price increase in manufacture of wood and of products of wood
and cork, except furniture and of food products, as well as in waste
collection, treatment and disposal activities; materials recovery. Manufacture
of computer, electronic and optical products, manufacture of chemicals and
chemical products as well as production of electricity had the largest downward
effect.
In December2017, compared to
November, the level of producer prices in Latvian industry increased by 0.2%. The level of prices both of products sold on the domestic market and of
exported products rose by 0.2%. Prices of products exported to euro area
countries remained the same, whereas prices of products exported to non-euro
area countries rose by 0.3%. Over a month changes of producer prices were
mostly affected by price rise of wood and of products of wood and cork, except
furniture and in the manufacture of fabricated metal products, except machinery
and equipment. Price changes in mining and quarrying, manufacture of chemicals
and chemical products, as well as printing and reproduction of recorded media,
in turn, had lowering effect.
Producer price changes in
December 2017 (as per cent)
|
Weights |
Price changes in December 2017 compared to |
|
November
2017 |
December
2016 |
||
All
industrial production |
100.0 |
0.2 |
3.1 |
Mining and
quarrying |
2.6 |
-0.8 |
-0.3 |
Manufacturing |
78.1 |
0.3 |
3.8 |
Electricity, gas, steam and air conditioning supply |
15.3 |
-0.1 |
-0.5 |
Water supply; sewerage, waste management and remediation activities |
4.0 |
0.1 |
6.7 |
Products sold on the domestic market |
100.0 |
0.2 |
3.0 |
Mining and
quarrying |
1.9 |
-0.5 |
1.1 |
Manufacturing |
59.4 |
0.4 |
4.6 |
Electricity, gas, steam and air conditioning supply |
31.5 |
-0.1 |
-0.5 |
Water supply; sewerage, waste management and remediation activities |
7.2 |
0.0 |
5.8 |
Exported
products |
100.0 |
0.2 |
3.3 |
Mining and
quarrying |
3.3 |
-1.0 |
-1.0 |
Manufacturing |
95.7 |
0.2 |
3.3 |
Water supply; sewerage, waste management and remediation activities |
1.0 |
0.7 |
12.9 |
In 2017, the average 12-month
level of producer prices in Latvian industry increased by 2.6%, compared to the
average 12-month level of 2016. Prices of products sold on the domestic market rose by 2.6%, of exported
products – by 2.7%, of which prices of exports to euro area countries grew by
3.2%, of exports to non-euro area countries – by 2.3%. The price rise was
mainly affected by manufacture of food products and manufacture of wood and of
products of wood and cork, except furniture. The largest drop in prices was
recorded in electricity production and trade, as well as in manufacture of
computer, electronic and optical products.
In 2017, information on
producer prices in industry was provided by more than 610 enterprises, which
informed the CSB about approximately 2.6 thousand prices every month – 1.4
thousand of which were 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 Producer Prices – Key
Indicators section of the CSB
website.
Information on producer price
changes in industry in January 2018 will be published on 21 February 2018.