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Official Statistics Portal of Latvia
Press release

In March level of producer prices in industry rose by 1.4 %

Data of the Central Statistical Bureau 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.

Information on producer price changes in industry in April 2021 will be published on May 24.

 

Methodological information

Report on producer prices in industry for March was provided by 99.5 % enterprises. The total number of imputations in March comprised 6.2 %. General producer price index in industry corresponds to quality requirements and is considered to be reliable.

 

This year, information on producer prices in industry is provided by more than 600 enterprises. For the calculation of producer price index in industry also tariffs for selected services and enterprises approved by the Public Utilities Commission are used. About 2.4 thousand prices are used in calculations of the index, of which 1.3 thousand prices are on products and industrial services sold on the domestic market and 1.1 thousand prices – sold on exports markets.

 

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

More information on data:
Rita Brice
Producer Price Indices Section
E-mail: Rita.Brice@csb.gov.lv
Phone: +371 67366862

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