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Market Update: Latvia Producer Prices Rise the Most in 10 Years
Producer prices in Latvia jumped 8.3 percent year-on-year in May of 2021, following a 5.1 percent rise in the previous month. It was the steepest increase in producer prices since April of 2011, as prices advanced at a faster pace both for exports (10.0 percent vs 7.1 percent in April) and domestically sold products (6.3 percent vs 2.9 percent). Across industries, producer inflation quickened for manufacturing (9.3 percent vs 6.4 percent); water supply (14.9 percent vs 10.9 percent); and electricity, gas, steam & air conditioning supply (1.9 percent vs -2.1 percent). On the other hand, prices in mining & quarrying advanced at a softer pace (3.6 percent vs 3.7 percent). On a monthly basis, producer prices rose 2.1 percent, after a 1.6 percent gain in April. source: Central Statistical Bureau of Latvia [/s2If]
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