Compared to March, the level of producer prices in Latvian industry grew by 0.1% in April. The prices of products sold on the domestic market increased by 0.5%, whereas the prices of exported products dropped by 0.2%.
The prices of products exported to euro area countries decreased by 0.2% and of products exported to non-euro area countries – by 0.1%, according to data from the Central Statistical Bureau of Latvia.
During the month, changes in producer prices were mainly affected by a price increase in the manufacture of food products and manufacture of wood and of products of wood and cork, except for furniture, whereas a lowering effect on the prices could be observed in production of electricity.
Compared to April 2016, in April 2017 the average level of producer prices in Latvian industry increased by 2.2%. The prices of products sold on the domestic market have increased by 2.2%, while those of exported products have grown by 2.3%. The prices of products exported to euro area countries have grown by 2.2% and of products exported to non-euro area countries – by 2.3%.
The most significant impact was caused by a price increase in the manufacture of food products, manufacture of wood and of products of wood and cork, except for furniture, as well as in waste collection, treatment and disposal activities; materials recovery. The greatest lowering effect was experienced in the production of electricity, as well as in manufacture of computer, electronic and optical products. (BNN/Business World Magazine)