Over the year, level of producer prices in industry rose by 27.2 %
Data of the Central Statistical Bureau show that in March 2022, compared to March 2021, the level of producer prices in Latvian industry increased by 27.2 %. The level of prices of products sold on the domestic market increased by 37.0 %, and prices of exported products – by 18.8 %. Prices of products exported to euro area countries rose by 22.9 %, prices of products exported to non-euro area countries – by 15.4 %.
The most significant impact on producer prices was made by the price rise in production of electricity, gas, steam and air conditioning supply; manufacture of wood and of products of wood and cork (except furniture); manufacture of food products, as well as waste collection, treatment and disposal activities, materials recovery.
In March 2022, compared to February, the level of producer prices in Latvian industry increased by 3.0 %. The level of prices of products sold on the domestic market rose by 4.4 %, and prices of exported products – by 1.8 %. Producer prices of products exported to euro area countries increased by 1.3 % and prices of products exported to non-euro area countries – by 2.3 %.
Trade and manufacture of electricity, steam and air conditioning supply; manufacture of wood and of products of wood and cork (except of furniture); manufacture of selected food products, as well as manufacture of fabricated metal products (except machinery and equipment) had upward impact on the producer price changes.
Producer price changes in March 2022
(as per cent)
| Weights | Price changes in March 2022 compared to | |
February 2022 | March 2021 | ||
Industrial production – total | 100.0 | 3.0 | 27.2 |
Mining and quarrying | 2.3 | 0.7 | 16.2 |
Manufacturing | 76.5 | 2.2 | 19.7 |
Electricity, gas, steam and air conditioning supply | 17.9 | 6.9 | 68.8 |
Water supply; sewerage, waste management and remediation activities | 3.3 | 3.2 | 31.9 |
Products sold on the domestic market | 100.0 | 4.4 | 37.0 |
Mining and quarrying | 1.9 | 0.6 | 11.7 |
Manufacturing | 53.8 | 3.0 | 22.4 |
Electricity, gas, steam and air conditioning supply | 37.7 | 6.9 | 68.9 |
Water supply; sewerage, waste management and remediation activities | 6.6 | 3.3 | 25.1 |
Exported products | 100.0 | 1.8 | 18.8 |
Mining and quarrying | 2.7 | 0.8 | 18.8 |
Manufacturing | 96.9 | 1.9 | 18.4 |
Electricity, gas, steam and air conditioning supply | 0.1 | . | … |
Water supply; sewerage, waste management and remediation activities | 0.3 | 1.0 | 69.0 |
Information on producer price changes in industry in April 2022 will be published on May 23.
Methodological information
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.
. = Data not released for confidentiality reasons.
... = Data missing.
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
Share