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In November level of producer prices in industry rose by 1.2 %

Data of the Central Statistical Bureau show that, compared to October, in November 2021 the level of producer prices in Latvian industry increased by 1.2 %. The level of prices of products sold on the domestic market increased by 2.4 %, and prices of exported products – by 0.1 %. Producer prices of products exported to euro area countries decreased by 0.4 %, while prices of products exported to non-euro area countries rose by 0.5 %.

Electricity, gas, steam and air conditioning supply, as well as manufacture of selected food products had upward impact on the producer price changes. Manufacture of wood and of products of wood and cork (except furniture) had downward impact on the producer price changes.

Producer price changes in November 2021
(as per cent)

 

Weights

Price changes in November 2021 compared to

October 2021

November 2020

Industrial production – total

100.0

1.2

23.4

Mining and quarrying

2.4

0.8

13.1

Manufacturing

78.8

0.2

19.0

Electricity, gas, steam and air conditioning supply

14.9

5.8

49.8

Water supply; sewerage, waste management and remediation activities

3.9

0.6

18.7

Products sold on the domestic market

100.0

2.4

26.7

Mining and quarrying

1.9

0.3

11.2

Manufacturing

58.8

0.5

16.6

Electricity, gas, steam and air conditioning supply

31.8

5.8

49.8

Water supply; sewerage, waste management and remediation activities

7.5

0.4

11.7

Exported products

100.0

0.1

20.5

Mining and quarrying

3.0

1.1

14.2

Manufacturing

96.3

0.0

20.3

Water supply; sewerage, waste management and remediation activities

0.7

1.7

79.4

In November 2021, compared to November 2020, the average level of producer prices in Latvian industry rose by 23.4 %. The level of prices of products sold on the domestic market grew by 26.7 %, and prices of exported products – by 20.5 %. Prices of products exported to euro area countries rose by 22.2 %, prices of products exported to non-euro area countries – by 19.1 %.

The price rise in manufacture of wood and of products of wood and cork (except furniture); electricity, gas, steam and air conditioning supply, as well as manufacture of selected food products had the greatest upward impact on the producer price changes.

Information on producer price changes in industry in December 2021 will be published on 21 January 2022.

Methodological information

Report on producer prices in industry for November was provided by 97.9 % enterprises. The total number of imputations in November comprised 7.2 %. 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@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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