The level of prices of products sold on the domestic market went up by 37.3 % and that of exported products by 9.4 %. Prices of products exported to euro area countries increased by 11.8 % and of products exported to non-euro area countries by 7.4 %.
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), as well as manufacture of other non-metallic mineral products had the most significant impact on the producer prices.
Despite the high level, there are signs prices are starting to ease off. In January 2023, compared to December 2022, the level of producer prices in Latvian industry decreased by 2.7 %. The level of prices of products sold on the domestic market fell by 5.2 %, but prices of exported products rose by 0.1 %. Producer prices of products exported to euro area countries decreased by 0.3 %, while prices of products exported to non-euro area countries rose by 0.5 %.
Producer price changes in January 2023 (as per cent)
|
|
Weights |
Price changes in January 2023 compared to |
|
|
December 2022 |
January 2022 |
||
|
Industrial production, total |
100.0 |
-2.7 |
22.9 |
|
Mining and quarrying |
2.3 |
0.8 |
19.2 |
|
Manufacturing |
72.2 |
0.1 |
14.6 |
|
Electricity, gas, steam and air conditioning supply |
22.1 |
-13.0 |
56.1 |
|
Water supply; sewerage, waste management and remediation activities |
3.4 |
4.0 |
16.6 |
|
Products sold on the domestic market |
100.0 |
-5.2 |
37.3 |
|
Mining and quarrying |
1.6 |
0.6 |
23.4 |
|
Manufacturing |
50.4 |
-0.3 |
25.2 |
|
Electricity, gas, steam and air conditioning supply |
42.0 |
-12.8 |
56.4 |
|
Water supply; sewerage, waste management and remediation activities |
6.0 |
5.0 |
18.8 |
|
Exported products |
100.0 |
0.1 |
9.4 |
|
Mining and quarrying |
3.0 |
0.8 |
16.6 |
|
Manufacturing |
96.2 |
0.3 |
9.4 |
|
Electricity, gas, steam and air conditioning supply |
0.2 |
. |
. |
|
Water supply; sewerage, waste management and remediation activities |
0.6 |
-7.6 |
-16.1 |
