Over the year level of producer prices in industry fell by 7.2 %22.04.2024

Data of the Central Statistical Bureau show that in March 2024, compared to March 2023, the level of producer prices in Latvian industry decreased by 7.2 %. The level of prices of products sold on the domestic market reduced by 11.1 %, and prices of exported products by 3.2 %. Prices of products exported to euro area countries decreased by 3.4 % and of products exported to non-euro area countries by 3.0 %.

Price drop in heat, gas supply, manufacture and trade of electricity, as well as manufacture of wood and of products of wood and cork (except furniture) had downward impact on the level of producer prices during the year.

Data on February 2024 have been revised.

In March 2024, compared to February 2024, the level of producer prices in Latvian industry decreased by 0.4 %. Prices of products sold on the domestic market fell by 1.3 %, but prices of exported products grew by 0.4 %. Prices of products exported to euro area countries remained unchanged, while prices of products exported to non-euro area countries increased by 0.7 %.

Price drop in electricity, gas supply, steam and air conditioning supply had downward impact on the overall level of producer prices during the month. Rise of prices in manufacture of wood and products of wood (except furniture) had upward impact on the producer price changes.

Producer price changes in March 2024

(as per cent)

Information on producer price changes in industry in April 2024 will be published on May 23.

Methodological information

Producer price index in industry is an indicator characterizing industrial production price fluctuations over a set period.

The contribution of a given economic activity to the overall industrial producer price index (PPI) is assessed by calculating an impact. Economic activities having insignificant price changes but taking large share of the index can influence the overall PPI more than the products having little share but major price changes.

This year information on producer prices in industry is provided by more than 600 enterprises. Producer price index in industry is calculated by using also tariffs on selected services and enterprises approved by the Public Utilities Commission. More than 2.5 thousand prices are used in calculations of the index, of which about 1.4 thousand prices of products and industrial services sold on the domestic market and more than 1.1 thousand prices of products and industrial services sold on exports markets.

More information on producer price index in industry is available in the official statistics portal section Reference metadata.

Media requests:
Communication Section
E-mail: [email protected]
Phone: +371 27880666

More information on data:
Rita Brice
Producer Price Indices Section
E-mail: [email protected]
Phone: +371 67366862

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