Producer prices jumped 27% on year in Latvia

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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.

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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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