Industrial producer prices in Latvia increased by 49.3% in July 2022 when compared to the same month of 2021. This is a more rapid increase than the average in the European Union and Eurozone, according to data published by Eurostat.
The most rapid rise among EU member states was registered in Romania (+67.4%), Bulgaria (+55.9%) and Denmark (+55.1%). Producer prices in Lithuania increased by 47.9% in Lithuania and 41.5% in Estonia.
Growth was registered in all EU member states.
At the same time, average producer prices in EU member states in July when compared to the same month of last year had increased by 37.8%. Producer price increase in Eurozone was 37.9%.
Compared to June, producer prices in the EU increased by 3.7% and in Eurozone – by 4%.
Compared to the previous month, producer prices increased in 20 EU member states. Prices in Spain remained unchanged, and dropped in Lithuania (-0.2%), Belgium (-0.3%), Greece (-0.6%), Luxembourg (-0.9%), Sweden (-1.2%) and Portugal (-1.5%). The biggest increase was observed in Ireland (+26.1%), Hungary (+9.4%) and Bulgaria (+8%). In Latvia producer prices in July, when compared to June, increased by 4.8%. In Estonia the increase was 0.5%.