Central Statistical Bureau data show that in July 2023, compared to July 2022, the level of producer prices in Latvian industry reduced by 2.5 %.
Prices of products sold on the domestic market decreased by 1.9 % and prices of exported products by 3.8 %. Prices of products exported to euro area countries fell by 3.9 % and of products exported to non-euro area countries by 3.7 %.
The price drop in manufacture of wood and of products of wood and cork (except furniture); trade of electricity, gas and heat supply; as well as manufacture of chemicals and chemical products had the most significant downward impact on producer prices. Whereas price rise in manufacture of several food products had the most significant upward impact.
However, in July 2023, compared June, level of producer prices in Latvian industry increased by 1.0 %. The level of prices of products sold on the domestic market rose by 2.0 % and prices of exported products did not change. Producer prices of products exported to euro area countries dropped by 0.1 % while of products exported to non-euro area countries grew by 0.1 %.
