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Latvian producer prices up 0.2% y-o-y in October
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    News

    Latvian producer prices up 0.2% y-o-y in October

    RIGA, Nov 22 (LETA) - In October 2019, producer prices in Latvia’s industry declined by 0.2 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 1.7 percent on year, while producer process on exports declined 1.9 percent. Prices on goods exported to euro area countries went down 1.4 percent and prices on exports to countries outside the euro area dropped 2.3 percent.

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

    Compared to September 2019, Latvian consumer prices reduced 0.6 percent on average in October

    Prices on goods sold on the domestic market went down 0.6 percent, whereas prices on exported products rose 0.5 percent. Prices of products exported to euro area countries decreased 0.4 percent, while prices of products exported to non-euro area countries declined 0.6 percent.

    Over the month, the most significant impact on producer prices was made by the price drop in heat supply and manufacture of wood and of products of wood and cork, except furniture. Manufacture of basic pharmaceutical products and pharmaceutical preparations had upward effect.

    This year, information on producer prices in 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 the export markets, with the respective information being then used for index calculations.

    • Published: 22.11.2019 13:27
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