Producer prices in December up 1.6% in Latvia

Data published by the Central Statistical Bureau on January 21 show that, compared to November, in December 2021 the level of producer prices in Latvian industry increased by 1.6%. 

The level of prices of products sold on the domestic market increased by 3.8%, whereas prices of exported products decreased by 0.5 %. Producer prices of products exported to euro area countries rose by 0.1%, and the prices of products exported to non-euro area countries dropped by 1.0%.

Electricity manufacture and trade, manufacture of selected food products as well as the manufacture of non-metallic mineral products had an upward impact on the producer price changes. 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 price changes.

In December 2021, compared to December 2020, the average level of producer prices in Latvian industry rose by 25.1 %The level of prices of products sold on the domestic market grew by 31.4 %, and prices of exported products - by 19.6 %. Prices of products exported to euro area countries rose by 22.2 %, and prices of products exported to non-euro area countries - by 17.5 %.

The price rise in electricity, gas, steam and air conditioning supply, in manufacture of wood and of products of wood and cork (except furniture), as well as in manufacture of selected food products had the greatest impact on the producer price changes.

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