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Producer prices in April up 1.6% in Latvia

Data published May 24 by the Central Statistical Bureau show that, compared to March, in April 2021 the level of producer prices in Latvian industry increased by 1.6%. 

The level of prices of products sold on the domestic market  increased by 1.4%, and prices of exported products – by 1.7%. Producer prices of products exported to euro area countries rose by 2.2%, prices of products exported to non-euro area countries – by 1.3%.

Manufacture of wood and of products of wood and cork (except furniture), manufacture of selected food products, as well as manufacture of rubber and plastic products had upward impact on the producer price changes. Manufacture of chemicals and chemical products had downward effect.

Producer price changes in April 2021
(as per cent)

 

Weights

Price changes in April 2021 compared to

March 2021

April 2020

Industrial production – total

100.0

1.6

5.1

Mining and quarrying

2.4

1.0

3.7

Manufacturing

78.8

1.9

6.4

Electricity, gas, steam and air conditioning supply

14.9

0.0

-2.1

Water supply; sewerage, waste management and remediation activities

3.9

1.8

10.9

Products sold on the domestic market

100.0

1.4

2.9

Mining and quarrying

1.9

1.2

5.0

Manufacturing

58.8

2.3

4.8

Electricity, gas, steam and air conditioning supply

31.8

0.0

-2.1

Water supply; sewerage, waste management and remediation activities

7.5

0.8

10.4

Exported products

100.0

1.7

7.1

Mining and quarrying

3.0

0.9

2.9

Manufacturing

96.3

1.7

7.2

Water supply; sewerage, waste management and remediation activities

0.7

10.5

13.0

In April 2021, compared to April 2020, the average level of producer prices in Latvian industry rose by 5.1 %. The level of prices of products sold on the domestic market grew by 2.9 %, and prices of exported products – by 7.1 %. Prices of products exported to euro area countries rose by 6.1 %, prices of products exported to non-euro area countries – by 8.0 %.

Manufacture of wood and of products of wood and cork (except furniture), waste collection, treatment and disposal activities, materials recovery, as well as manufacture of chemicals and chemical products had upward impact on the producer price changes. Price drop of gas and heat supply, as well as manufacture of computer, electronic and optical products had downward impact on the producer price changes.

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