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Producer prices in October up 0.2% in Latvia

Data of the Central Statistical Bureau (CSB) published November 23 show that, compared to September, in October 2020 the level of producer prices in Latvian industry increased by 0.2%. 

Prices of products sold on the domestic market fell by 0.4 %, but prices of exported products grew by 0.7 %. Producer prices of products exported to euro area countries increased by 1.0 %, prices of products exported to non-euro area countries – by 0.5 %.

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 October 2020
(as per cent)

 

 

Weights

Price changes in October 2020 compared to

September 2020

October 2019

Industrial production – total

100.0

0.2

-1.3

Mining and quarrying

2.6

1.1

-2.4

Manufacturing

76.7

0.5

0.1

Electricity, gas, steam and air conditioning supply

16.7

-1.4

-8.4

Water supply; sewerage, waste management and remediation activities

4.0

0.1

0.7

Products sold on the domestic market

100.0

-0.4

-3.0

Mining and quarrying

2.0

0.4

-2.1

Manufacturing

55.8

0.2

-0.5

Electricity, gas, steam and air conditioning supply

34.7

-1.4

-8.4

Water supply; sewerage, waste management and remediation activities

7.5

0.1

2.8

Exported products

100.0

0.7

0.2

Mining and quarrying

3.2

1.4

-2.5

Manufacturing

96.0

0.7

0.5

Water supply; sewerage, waste management and remediation activities

0.8

0.7

-16.8

In October 2020, compared to October 2019, the average level of producer prices in Latvian industry fell by 1.3 %. Prices of products sold on the domestic market have fallen by 3.0 %, but prices of exported products – grown by 0.2 %. Prices of products exported to euro area countries rose by 0.4 %, prices of products exported to non-euro area countries – by 0.1 %.

Price drop of electricity, gas, steam and air conditioning supply had significant impact on the producer price changes. Manufacture of wood and of products of wood and cork, except furniture, as well as repair and installation of machinery and equipment had upward impact on the producer price changes.

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