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Producer prices in March up 1.4% in Latvia

Data of the Central Statistical Bureau published April 23 show that, compared to February, in March 2021 the level of producer prices in Latvian industry increased by 1.4%. 

The level of prices of products sold on the domestic market increased by 0.7 %, and prices of exported products – by 2.0 %. Producer prices of products exported to euro area countries rose by 1.5 %, prices of products exported to non-euro area countries – by 2.4 %. 

Manufacture of wood and of products of wood and cork, except furniture, as well as manufacture of selected food products had upward impact on the producer price changes. Trade and distribution of electricity had downward impact.

Producer price changes in March 2021 

(as per cent)

 

Weights

Price changes in March 2021 compared to

February 2021

March 2020

Industrial production – total

100.0

1.4

3.4

Mining and quarrying

2.4

0.4

1.4

Manufacturing

78.8

1.8

4.4

Electricity, gas, steam and air conditioning supply

14.9

-0.8

-2.2

Water supply; sewerage, waste management and remediation activities

3.9

1.3

7.8

Products sold on the domestic market

100.0

0.7

1.2

Mining and quarrying

1.9

0.7

1.7

Manufacturing

58.8

1.5

2.1

Electricity, gas, steam and air conditioning supply

31.8

-0.8

-2.2

Water supply; sewerage, waste management and remediation activities

7.5

0.5

8.8

Exported products

100.0

2.0

5.5

Mining and quarrying

3.0

0.2

1.2

Manufacturing

96.3

2.0

5.7

Water supply; sewerage, waste management and remediation activities

0.7

8.4

-2.3

In March 2021, compared to March 2020, the average level of producer prices in Latvian industry increased by 3.4 %. The level of prices of products sold on the domestic market grew by 1.2 %, and prices of exported products – by 5.5 %. Prices of products exported to euro area countries rose by 4.4 %, prices of products exported to non-euro area countries – by 6.4 %.

Manufacture of wood and of products of wood and cork, except furniture, had the most significant impact on the producer price changes. Price drop of gas and heat supply, as well as manufacture of selected food products had downward impact on the producer price changes.

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