Producer prices rose slightly in November in Latvia

Data published December 21 by the Central Statistical Bureau show that, compared to October, in November 2021 the level of producer prices in the Latvian industry increased by 1.2 %. 

The level of prices of products sold on the domestic market increased by 2.4 %, and prices of exported products – by 0.1 %. Producer prices of products exported to euro area countries decreased by 0.4 %, while prices of products exported to non-euro area countries rose by 0.5 %.

Electricity, gas, steam and air conditioning supply, as well as the manufacture of selected food products, had an upward impact on the producer price changes. Manufacture of wood and of products of wood and cork (except furniture) had a downward impact on the producer price changes.

In November 2021, compared to November 2020, the average level of producer prices in the Latvian industry rose by 23.4 %. The level of prices of products sold on the domestic market grew by 26.7 %, and prices of exported products – by 20.5 %. Prices of products exported to euro area countries rose by 22.2 %, prices of products exported to non-euro area countries – by 19.1 %.

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

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