Producer prices jumped 27% on year in Latvia

Data published April 25 by the Central Statistical Bureau show that in March 2022, compared to March 2021, the level of producer prices in Latvian industry increased by 27.2 %.

The level of prices of products sold on the domestic market increased by 37.0 %, and prices of exported products – by 18.8 %. Prices of products exported to euro area countries rose by 22.9 %, prices of products exported to non-euro area countries – by 15.4 %.

The most significant impact on producer prices was made by the price rise in production of electricity, gas, steam and air conditioning supply; manufacture of wood and of products of wood and cork (except furniture); manufacture of food products, as well as waste collection, treatment and disposal activities, materials recovery.

In March 2022, compared to February, the level of producer prices in Latvian industry increased by 3.0 %. The level of prices of products sold on the domestic market rose by 4.4 %, and prices of exported products – by 1.8 %. Producer prices of products exported to euro area countries increased by 1.3 % and prices of products exported to non-euro area countries – by 2.3 %.

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