Latvian producer prices up in October

Data published November 22 by the Central Statistical Bureau show that, compared to September, in October 2021 the level of producer prices in Latvian industry increased by 1.2 %. Prices of products sold on the domestic market rose by 2.8 %, but prices of exported products reduced by 0.2 %. Producer prices of products exported to euro area countries increased by 1.0 %, but prices of products exported to non-euro area countries decreased by 1.2 %.

"Electricity, gas, steam and air conditioning supply; manufacture of chemicals and chemical products, as well as manufacture of selected food products had an upward impact on the producer price changes. Manufacture of wood and of products of wood and cork (except furniture) had downward impact on the producer price changes," said the CSB.

Year-on-year the rise was much larger. In October 2021, compared to October 2020, the average level of producer prices in Latvian industry increased by 22.4 %. 

 

Producer price changes in October 2021 (as per cent)

 

Weights

Price changes in October 2021 compared to

September 2021

October 2020

Industrial production – total

100.0

1.2

22.4

Mining and quarrying

2.4

0.6

12.7

Manufacturing

78.8

0.0

19.1

Electricity, gas, steam and air conditioning supply

14.9

7.4

42.8

Water supply; sewerage, waste management and remediation activities

3.9

0.4

18.1

Products sold on the domestic market

100.0

2.8

24.2

Mining and quarrying

1.9

1.4

11.0

Manufacturing

58.8

0.3

16.3

Electricity, gas, steam and air conditioning supply

31.8

7.4

42.8

Water supply; sewerage, waste management and remediation activities

7.5

0.4

11.3

Exported products

100.0

-0.2

20.8

Mining and quarrying

3.0

0.2

13.6

Manufacturing

96.3

-0.2

20.6

Water supply; sewerage, waste management and remediation activities

0.7

0.9

77.5

 

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