Producer prices up 32% in Latvia in October

Data published November 22 by the Central Statistical Bureau of Latvia show that in October 2022, compared to October 2021, the level of producer prices in the Latvian industry rose by 32.3 %. 

The level of prices of products sold on the domestic market went up by 56.3 % and that of exported products by 11.8 %. Prices of products exported to euro-area countries increased by 13.5 % and of products exported to non-euro area countries by 10.4 %.

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) had the most significant impact on the producer prices.

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In October 2022, compared to September, the level of producer prices in Latvian industry increased by 0.5 %. Prices of products sold on the domestic market did not change, but prices of exported products rose by 1.1 %. Producer prices of products exported to euro area countries increased by 0.2 %, prices of products exported to non-euro area countries – by 1.8 %.

Manufacture of wood and of products of wood and cork (except of furniture); manufacture of other non-metallic mineral products, as well as manufacture of selected food products, had an upward impact on the producer price changes.

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