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Latvian producer prices up 0.4% y-o-y in August
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    News

    Latvian producer prices up 0.4% y-o-y in August

    RIGA, Sept 20 (LETA) - In August 2019, producer prices in Latvia’s industry rose by 0.4 percent against the same period a year ago, according to the data released today by the Central Statistical Bureau (CSB).

    Producer prices on goods sold on the local market climbed 2.4 percent on year, while producer process on exports declined 1.4 percent. Prices on goods exported to euro area countries went down 1 percent and prices on exports to countries outside the euro area dropped 1.8 percent.

    Manufacture of selected food products, as well as production of electricity, heat supply and distribution of electricity had the most significant upward impact on the producer price changes during the year. Manufacture of products of wood and cork, except furniture, had downward effect.

    Compared to July 2019, Latvian consumer prices reduced 0.1 percent on average.

    Prices on goods sold on the domestic market rose by 0.2 percent, whereas prices on exported products dropped 0.3 percent. Prices of products exported to euro area countries fell by 0.6 percent, while prices of products exported to non-euro area countries declined by 0.1 percent.

    The most significant impact was made by the price drop in manufacture of wood and of products of wood and cork, except furniture, in manufacture of basic pharmaceutical products and pharmaceutical preparations. Heat supply, production and trade of electricity, as well as manufacture of beverages, in turn, had upward effect.

    This year, information on producer prices in Latvian industry is provided by more than 600 enterprises, which inform the CSB about approximately 2,400 prices every month – 1,300 of which are related to products and industrial services sold on the domestic market and 1,100 relating to prices on export markets, with the respective information being then used for index calculations.

    • Published: 20.09.2019 14:39
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