20 Oct 2017 14:05 |Category:  LAT English 1st page news

Producer prices up 3.3% in September

RIGA, Oct 20, BNS - This September, compared to September of last year, the average level of producer prices in Latvian industry increased by 3.3 percent, according to information from the Central Statistical Bureau.

Prices of products sold on the domestic market increased by 3.5 percent, and prices of exported products grew by 3.1 percent. Prices of products exported to euro area countries rose by 4 percent, and of products exported to non-euro area countries – by 2.4 percent.

The most significant impact was made by the price increase in manufacture of food products, manufacture of wood and of products of wood and cork, except furniture, as well as in waste collection, treatment and disposal activities; materials recovery. Price changes in production and distribution of electricity had the greatest lowering effect.

Compared to August, in September 2017 the level of producer prices in Latvian industry rose by 0.3 percent. Prices of products sold on the domestic market rose by 0.3 percent, and prices of exported products grew by 0.2 percent. Prices of products exported to euro area countries increased by 0.7 percent, whereas prices of products exported to non-euro area countries decreased by 0.2 percent.

Over the month, upward pressure on the producer price changes was mainly exerted by manufacture of wood and of products of wood and cork, except furniture, as well as manufacture of food products, whereas price changes in manufacture of computer, electronic and optical products, steam and air conditioning supply as well as production of electricity had downward effect.

This year information on producer prices in industry is provided by more than 610 enterprises, which inform the CSB about approximately 2,600 prices every month – 1,400 of which are related to products and industrial services sold on the domestic market, and 1,200 relating to prices on the export markets, with the respective information being then used for index calculations.

BNS, +371 67088611, zinas@bns.lv

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