Producer prices in Latvia up 33% on year

Data published on October 21 by the Central Statistical Bureau of Latvia show that in September 2022, compared to September 2021, the level of producer prices in the Latvian industry rose by 33.1%.

 The level of prices of products sold on the domestic market went up by 60.2 % and that of exported products by 10.4 %. Prices of products exported to euro-area countries increased by 14.4 % and of products exported to non-euro area countries by 7.1 %.

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

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In September 2022, compared to August, the level of producer prices in the Latvian industry decreased by 0.7 %. The level of prices of products sold on the domestic market fell by 0.6 % and prices of exported products by 0.9 %. Producer prices of products exported to euro-area countries were reduced by 1.3 % and prices of products exported to non-euro area countries – by 0.5 %.

Trade of electricity, as well as the manufacture of chemicals and chemical products, had a downward effect. Manufacture of selected food products; manufacture of computer, electronic and optical products; printing and reproduction of recorded media, as well as the manufacture of other non-metallic mineral products had an upward impact on the producer price changes.

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