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Producer prices in Latvia rose in May

Data from the Central Statistical Bureau published June 21 show that, compared to April, in May 2021 the level of producer prices in the Latvian industry increased by 2.1%. 

The level of prices of products sold on the domestic market increased by 2.0 %, and prices of exported products – by 2.2 %. Producer prices of products exported to euro area countries rose by 3.7 %, prices of products exported to non-euro area countries – by 0,9%.

Manufacture of wood and of products of wood and cork (except furniture), gas supply, manufacture of chemicals and chemical products, as well as manufacturing of fabricated metal products (except machinery and equipment) had an upward impact on the producer price changes. Manufacturing of computer, electronic and optical products had a downward impact on the producer price changes.

In May 2021, compared to May 2020, the average level of producer prices in the Latvian industry rose by 8.3 %. The level of prices of products sold on the domestic market grew by 6.3 %, and prices of exported products – by 10.0 %. Prices of products exported to euro area countries rose by 11.3 %, prices of products exported to non-euro area countries – by 9.0 %.

Manufacture of wood and of products of wood and cork (except furniture), waste collection, treatment and disposal activities, materials recovery, as well as manufacturing of chemicals and chemical products had upward impact on the producer price changes. Manufacturing of computer, electronic and optical products had a downward impact on the producer price changes.

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Economy
Economy

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