Producer prices continue to climb

Data published July 21 by the Central Statistical Bureau of Latvia show that in June 2022, compared to June 2021, the level of producer prices in Latvian industry rose by 30.1 %. 

The level of prices of products sold on the domestic market went up by 44.1 % and that of exported products by 18.5 %. Prices of products exported to euro area countries increased by 23.2 % and of products exported to non-euro area countries by 14.6 %.

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

 

In June 2022, compared to May, the level of producer prices in Latvian industry increased by 2.0%. The level of prices of products sold on the domestic market grew by 3.7 % and prices of exported products by 0.4 %. The level of producer prices of products exported to euro area countries went up by 1.1 %, while that of products exported to non-euro area countries fell by 0.1 %.

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