The level of prices of products sold on the domestic market decreased by 17.2 %, and prices of exported products – by 4.8 %. Prices of products exported to euro-area countries decreased by 6.1 % and of products exported to non-euro area countries by 3.7 %.
Trade and manufacture of electricity, heat and gas supply; manufacture of wood and of products of wood and cork (except furniture), as well as the manufacture of chemicals and chemical products had a downward impact on the producer prices.
In December 2023, compared to November 2023, the level of producer prices in Latvian industry fell by 0.8 %. The level of prices of products sold on the domestic market decreased by 1.0 %, and prices of exported products – by 0.5 %. Producer prices of products exported to euro area countries reduced by 0.4 % and prices of products exported to non-euro area countries – by 0.6 %.
Price drop in trade and manufacture of electricity, gas supply, as well as manufacture of computer, electronic and optical products had downward impact on the overall level of producer prices during the month. Price rise of heat supply, as well as manufacture of selected food products had upward impact on the producer price changes.
In 2023, the average 12-month level of producer prices in Latvian industry increased by 1.1 %, compared to the average 12-month level of 2022. Prices of products sold on the domestic market increased by 2.3 %, while prices of exported products reduced by 0.8 %. Prices of products exported to euro area countries fell by 0.7 %, but those of products exported to non-euro area countries – by 1.0 %.
