Producer prices in August stayed same in Latvia

Data of the Central Statistical Bureau (CSB) published September 21 show that, compared to July, in August 2020 the level of producer prices in Latvian industry remained the same. 

Prices of products sold on the domestic market fell by 0.1 %, but prices of exported products grew by 0.2 %. Producer prices of products exported to euro area countries increased by 0.6 %, but prices of products exported to non-euro area countries decreased by 0.2 %.

Manufacture of wood and of products of wood and cork, except furniture, had upward impact on the producer price changes. Price drop of electricity, gas, steam and air conditioning supply had downward impact on the producer price changes.

Producer price changes in August 2020
(as per cent)

 

 

Weights

Price changes in August 2020 compared to

July 2020

August 2019

Industrial production – total

100.0

0.0

-2.7

Mining and quarrying

2.6

-0.1

-2.3

Manufacturing

76.7

0.3

-0.8

Electricity, gas, steam and air conditioning supply

16.7

-1.5

-12.1

Water supply; sewerage, waste management and remediation activities

4.0

0.9

-0.4

Products sold on the domestic market

100.0

-0.1

-4.7

Mining and quarrying

2.0

-0.3

-1.0

Manufacturing

55.8

0.5

-0.9

Electricity, gas, steam and air conditioning supply

34.7

-1.5

-12.1

Water supply; sewerage, waste management and remediation activities

7.5

1.8

2.0

Exported products

100.0

0.2

-0.9

Mining and quarrying

3.2

-0.1

-3.0

Manufacturing

96.0

0.2

-0.7

Water supply; sewerage, waste management and remediation activities

0.8

-7.0

-19.6

In August 2020, compared to August 2019, the average level of producer prices in Latvian industry fell by 2.7 %. The level of prices of products sold on the domestic market reduced by 4.7 %, and prices of exported products decreased by 0.9 %. Prices of products exported to euro area countries fell by 0.4 %, prices of products exported to non-euro area countries – by 1.4 %.

Price drop of electricity, gas, steam and air conditioning supply had significant impact on the producer price changes. Repair and installation of machinery and equipment had upward effect on the producer prices.

This year, information on producer prices in industry is provided by more than 600 enterprises, which inform the CSB about approximately 2.4 thousand prices every month – 1.3 thousand of which are 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.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Economy
Economy