Producer prices continue steady rise

Take note – story published 6 years ago

According to data of the Central Statistical Bureau (CSB), compared to June, in July 2017 the level of producer prices in Latvian industry rose by 0.4 %. 

The prices of products sold on the domestic market increased by 0.5 %, while the prices of exported products grew by 0.3 %.

The prices of products exported to euro area countries rose by 0.5 % and of products exported to non-euro area countries by 0.1 %.

During the month, changes in producer prices were mainly affected by a price increase in the manufacture of wood and of products of wood and cork, except furniture, as well as in the manufacture of food products. A lowering effect on the prices could be observed in the manufacture of fabricated metal products, except machinery and equipment, in distribution of electricity, as well as in steam and air conditioning supply.

Compared to July 2016, in July 2017 the average level of producer prices in Latvian industry increased by 3.6 %. The prices of products sold on the domestic market increased by 3.9 %, while those of exported products grew by 3.4 %. The prices of products exported to euro area countries rose by 4.4 % and of products exported to non-euro area countries – by 2.7 %.

"The most significant impact was caused by a price increase in the manufacture of food products, in the manufacture of wood and of products of wood and cork, except furniture, in distribution of electricity, in steam and air conditioning supply, as well as in distribution of gaseous fuels through mains. The greatest lowering effect was experienced in the production and trade of electricity, as well as in the manufacture of textiles," said the CSB.

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