February producer prices up 22% on year in Latvia

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Data published on March 21 by the Central Statistical Bureau show that in February 2023, compared to February 2022, the level of producer prices in Latvian industry increased by 22.0 %.

The level of prices of products sold on the domestic market went up by 36.0 % and that of exported products – by 8.8 %. Prices of products exported to euro-area countries increased by 11.2 % and of products exported to non-euro area countries by 6.8 %.

The price rise in electricity, gas, steam and air conditioning supply; manufacture of food products; manufacture of wood and of products of wood and cork (except furniture), as well as the manufacture of other non-metallic mineral products, had the most significant impact on the producer prices.

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In February 2023, compared to January 2023, the level of producer prices in Latvian industry decreased by 0.7 %. The level of prices of products sold on the domestic market fell by 1.1 % and prices of exported products – by 0.4 %. The level of producer prices of products exported to euro area countries went up by 0.2 %, while that of products exported to non-euro area countries fell by 0.9 %.

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