Small rise in producer prices

Latest data from the Central Statistical Bureau (CSB) show that, compared to October, in November 2017 the level of producer prices in Latvian industry rose by 0.1 %.

Prices of products sold on the domestic market remained the same, while prices of exported products went up by 0.2 %.

Prices of products exported to euro area countries remained the same, whereas prices of products exported to non-euro area countries rose by 0.3 %.

Over the month, upward pressure on the producer price changes was mainly exerted by manufacture of food products and manufacture of non-metallic mineral products. Steam and air conditioning supply as well as production of electricity had downward effect.

In November 2017, compared to November 2016, the average level of producer prices in Latvian industry increased by 3.3 %. The level of prices of products sold on the domestic market rose by 3.5% and that of exported products by 3.1 %. Prices of products exported to euro area countries grew by 4.0 % and of products exported to non-euro area countries by 2.5 %.

This year, information on producer prices in industry is provided by more than 610 enterprises, which inform the CSB about approximately 2.6 thousand prices every month – 1.4 thousand of which are related to products and industrial services sold on the domestic market and 1.2 thousand relating to prices on the export markets, with the respective information being then used for index calculations.

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