In September, level of producer prices in industry rose by 2.8 %
Data of the Central Statistical Bureau (CSB) show that, compared to August, in September 2021 level of producer prices in Latvian industry rose by 2.8 %. Prices of products sold on the domestic market increased by 4.1 %, and prices of exported products - by 1.6 %. Prices of products exported to euro area countries rose by 0.7 %, whereas prices of products exported to non-euro area countries – by 2.4 %.
The price rise for electricity; gas, steam and air conditioning supply; manufacture of wood and of products of wood and cork (except furniture); manufacture of machinery and equipment n.e.c. had the greatest upward impact on the producer price changes.
Producer price changes in September 2021
(as per cent)
| Weights | Price changes in September 2021, compared to | |
August 2021 | September 2020 | ||
Industrial production – total | 100.0 | 2.8 | 21.2 |
Mining and quarrying | 2.4 | 3.4 | 13.2 |
Manufacturing | 78.8 | 1.4 | 19.8 |
Electricity, gas, steam and air conditioning supply | 14.9 | 10.7 | 31.0 |
Water supply; sewage, waste management and remediation activities | 3.9 | 0.2 | 17.7 |
Products sold on the domestic market | 100.0 | 4.1 | 20.4 |
Mining and quarrying | 1.9 | 2.0 | 9.9 |
Manufacturing | 58.8 | 1.1 | 16.2 |
Electricity, gas, steam and air conditioning supply | 31.8 | 10.7 | 31.0 |
Water supply; sewage, waste management and remediation activities | 7.5 | -0.4 | 11.0 |
Exported products | 100.0 | 1.6 | 21.9 |
Mining and quarrying | 3.0 | 4.2 | 15.0 |
Manufacturing | 96.3 | 1.5 | 21.7 |
Water supply; sewage, waste management and remediation activities | 0.7 | 3.7 | 77.2 |
Compared to September 2020, in September 2021 the average level of producer prices in Latvian industry increased by 21.2 %. Prices of products sold on the domestic market increased by 20.4 %, and prices of exported products - by 21.9 %. Prices of products exported to euro area countries rose by 23.2 %, whereas prices of products exported to non-euro area countries - by 20.8 %.
Manufacture of wood and of products of wood and cork (except furniture); electricity; gas, steam and air conditioning supply had the most significant impact on the producer price changes. The drop in prices for printing and reproduction of recorded media had downward impact on the producer price changes.
Information on producer price changes in industry in October 2021 will be published on November 22.
Methodological explanations
Report on producer prices in industry in September was provided by 98.5 % of enterprises. The total number of imputations in September comprised 6.6 %. 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:
Rita Brice
Producer Price Indices Section
E-mail: Rita.Brice@csp.gov.lv
Phone: +371 67366862
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