Latvia: In November producer prices in industry rose by 0.4%

Data of the Central Statistical Bureau (CSB) published December 21 show that, compared to October, in November 2020 the level of producer prices in Latvian industry increased by 0.4 %.

The level of prices of products sold on the domestic market increased by 0.4 %, and prices of exported products – by 0.3 %. Producer prices of products exported to euro area countries increased by 0.5 %, but prices of products exported to non-euro area countries rose by 0.2 %.

Manufacture of wood and of products of wood and cork, except furniture, had upward impact on the producer price changes. Price drop of manufacture of motor vehicles, trailers and semi-trailers, manufacture of beverages, as well as manufacture of basic pharmaceutical products and pharmaceutical preparations had downward impact on the producer price changes.

In November 2020, compared to November 2019, the average level of producer prices in Latvian industry fell by 0.9 %. Prices of products sold on the domestic market have fallen by 2.1 %, but prices of exported products – grown by 0.2 %. Prices of products exported to euro area countries rose by 0.5 %, prices of products exported to non-euro area countries remained the same.

Price drop of electricity, gas, steam and air conditioning supply had significant impact on the producer price changes. Manufacture of wood and of products of wood and cork, except furniture, had upward impact on the producer price changes.

LSM.LV

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