Official statistics portal
CSB
Official statistics of Latvia
Official Statistics Portal of Latvia
Press release

In June, level of producer prices in industry raised by 3.8 %

Data of the Central Statistical Bureau (CSB) show that, compared to May, in June 2021 level of producer prices in Latvian industry raised by 3.8 %. Prices of products sold on the domestic market increased by 3,0 %, and prices of exported products - by 4.4 %. Prices of products exported to euro area countries rose by 4.0 %, whereas prices of products exported to non-euro area countries – by 4,8%.

The most significant upward impact on producer price changes was made by the price increase in manufacture of wood and of products of wood and cork (except furniture), electricity, gas supply, steam and air conditioning supply, manufacture of fabricated metal products (except machinery and equipment) and manufacture of selected food products. A downward impact on producer price changes was made by the drop in producer prices of manufacture of beverages.

Producer price changes in June 2021

(as per cent)

 

Weights

Price changes in June 2021 (%), compared to

May 2021

June 2020

Industrial production – total

100.0

3.8

12.4

Mining and quarrying

2.4

1.3

5.9

Manufacturing

78.8

3.8

13.6

Electricity, gas, steam and air conditioning supply

14.9

4.5

6.1

Water supply; sewage, waste management and remediation activities

3.9

2.3

17.8

Products sold on the domestic market

100.0

3.0

9.4

Mining and quarrying

1.9

0.5

5.0

Manufacturing

58.8

2.5

10.8

Electricity, gas, steam and air conditioning supply

31.8

4.5

6.1

Water supply; sewage, waste management and remediation activities

7.5

1.2

14.1

Exported products

100.0

4.4

15.0

Mining and quarrying

3.0

1.7

6.4

Manufacturing

96.3

4.5

15.0

Water supply; sewage, waste management and remediation activities

0.7

9.9

46.7

Compared to June 2020, in June 2021 the average level of producer prices in Latvian industry increased by 12.4 %. Prices of products sold on the domestic market increased by 9.4 %, and prices of exported products - by 15.0 %. Prices of products exported to euro area countries rose by 15.8 %, whereas prices of products exported to non-euro area countries - by 14.4 %.

Price increase in manufacture of wood and of products of wood and cork (except furniture), trade and manufacture of electricity, waste collection, treatment and disposal activities; materials recovery had the most significant upward impact on the producer price changes. Manufacture of computer, electronic and optical products, in turn, had downward effect.

Information on producer price changes in industry in July 2021 will be published on August 20.

Methodological explanations

Report on producer prices in industry in June was provided by 98.3 % of enterprises. The total number of imputations in June comprised 5.1 %. General producer price index in industry meets the quality requirements set and may be 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@csp.gov.lv
Phone.: +371 27880666

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

Share