May 19, 2022

The level of producer prices in Latvia is falling, but wood products influence the price increase – Baltic News Network


In October 2020, compared to October 2019, the average level of producer prices in Latvian industry decreased by 1.3%.

The prices of products sold in the domestic market fell 3.0%, but the prices of exported products rose 0.2%. The prices of products exported to euro-zone countries rose by 0.4%, the prices of products exported to non-euro-zone countries – by 0.1%, according to data from the Central Bureau of statistics of Latvia.

Compared with September, the level of producer prices in Latvian industry increased by 0.2% in October 2020.

The prices of products sold in the domestic market fell by 0.4%, but the prices of exported products increased by 0.7%. Producer prices of products exported to euro area countries increased by 1.0%, prices of products exported to non-euro area countries – by 0.5%.

The manufacture of wood, wood and cork products, except furniture, had an upward impact on changes in producer prices. Falling prices for electricity, gas, steam and air conditioning have had a downward impact on changes in producer prices.

Falling prices for electricity, gas, steam and air conditioning have had a significant impact on changes in producer prices. The manufacture of wood and articles of wood and cork, except furniture, as well as the repair and installation of machinery and equipment had an upward impact on changes in producer prices .