April 27, 2023
Over the year level of producer prices in industry grew by 16.2 %
Data of the Central Statistical Bureau show that in March 2023, compared to March 2022, the level of producer prices in Latvian industry increased by 16.2 %. The level of prices of products sold on the domestic market went up by 26.0 % and that of exported products – by 6.4 %. Prices of products exported to euro area countries increased by 8.0 % and of products exported to non-euro area countries by 5.0 %.
The price rise in electricity, gas, steam and air conditioning supply; manufacture of food products; 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. Manufacture of chemicals and chemical products had downward effect.
In March 2023, compared to February 2023, the level of producer prices in Latvian industry decreased by 1.1 %. The level of prices of products sold on the domestic market fell by 2.0 % and prices of exported products – by 0.2 %. Producer prices of products exported to euro area countries decreased by 1.1 %, while prices of products exported to non-euro area countries rose by 0.6 %.
Drop of producer prices in electricity, gas, steam and air conditioning supply as well as manufacture of chemicals and chemical products had downward impact on the producer price changes.
Source: Central Statistical Bureau of Latvia
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