Data of the Central Statistical Bureau (CSB) show that, compared to December 2017, in December 2018, the level of producer prices in Latvian industry rose by 5.4 %. Prices of goods sold on the domestic market grew by 7.3 % and prices of exported products by 3.7 %. Prices of both products exported to euro area countries and products exported to non-euro area countries went up by 3.7 %.

Manufacture of wood and of products of wood and cork, except furniture, trade and production of electricity, steam and air conditioning supply, as well as distribution of gaseous fuels through mains had the most significant upward influence on the producer prices. Manufacture of electrical equipment, in turn, had the largest downward influence.

Compared to November, in December 2018 the overall level of producer prices in Latvian industry increased by 0.3 %. Prices of products sold on the domestic market went up by 0.6 %, while prices of exported products did not change. Prices of products exported to euro area countries fell by 0.2 %, whereas prices of products exported to non-euro area countries rose by 0.1 %.

Over the month, producer price changes were mainly influenced by the rise in prices of steam and air conditioning supply as well as production and trade of electricity. Manufacture of fabricated metal products, except machinery and equipment, in turn, had downward effect.

Producer price changes in December 2018
(as per cent)

	Weights	Price changes (%) in December 2018, compared to
	Weights	November 2018	December 2017
Total industrial production	100.0	0.3	5.4
Mining and quarrying	2.4	0.0	3.2
Manufacturing	76.5	0.1	4.1
Electricity, gas, steam and air conditioning supply	17.3	1.1	10.9
Water supply; sewerage, waste management and remediation activities	3.8	-0.4	8.4
Products sold on the domestic market	100.0	0.6	7.3
Mining and quarrying	1.6	0.0	2.2
Manufacturing	56.4	0.3	4.9
Electricity, gas, steam and air conditioning supply	35.4	1.1	10.9
Water supply; sewerage, waste management and remediation activities	6.6	-0.2	9.6
Exported products	100.0	0.0	3.7
Mining and quarrying	3.1	0.0	3.7
Manufacturing	95.7	0.0	3.7
Water supply; sewerage, waste management and remediation activities	1.2	-1.2	2.2

Compared to that recorded in 12 months of 2017, in the 12 months of 2018 the average level of producer prices in Latvian industry increased by 4.5 %. Prices of products sold on the domestic market rose by 5.5 % and of exported products by 3.6 %, incl., of those exported to euro area countries by 3.7 % and those exported to non-euro area countries by 3.4 %. Manufacture of wood and of products of wood and cork, except furniture, had the most significant upward influence on the producer price level. Manufacture of chemicals and chemical products as well as manufacture of electrical equipment had the most notable downward effect.

In 2018, information on producer prices in industry is provided by more than 600 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.

Information on producer price changes in industry on January 2019 will be published on 22 February 2019.

Media requests:
Communication Section
E-mail: media@csb.gov.lv
Phone: +371 67366989, +371 27880666

More information on data:
Avita Zandberga
Producer Price Indices Section
E-mail: Avita.Zandberga@csb.gov.lv
Phone: +371 67366617

Producer prices

KEY INDICATORS

Producer price index in industryGRC01

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