Compared to May 2021, the level of producer prices in Latvian industry increased by 31.5% in May 2022. The level of prices of products sold on the domestic market increased by 41.4%, and prices of exported products – by 23.2%.
Prices of products exported to euro area countries rose by 26.7%, prices of products exported to non-euro area countries – by 20.3%.
The most significant impact on producer prices was made by the price rise in production of electricity, gas, steam and air conditioning supply;
manufacture of wood and of products of wood and cork (except furniture); manufacture of food products; manufacture of fabricated metal products (except machinery and equipment), as well as manufacture of other non-metallic mineral products, according to data from the Central Statistical Bureau of Latvia.
In May 2022, compared to April, the level of producer prices in Latvian industry increased by 3.9%. The level of prices of products sold on the domestic market rose by 4.5%, and prices of exported products – by 3.4%. Producer prices of products exported to euro area countries increased by 3.9% and prices of products exported to non-euro area countries – by 3.0%.
Electricity, gas, steam and air conditioning supply; manufacture of wood and of products of wood and cork (except of furniture); manufacture of other non-metallic mineral products, as well as manufacture of selected food products had upward impact on the producer price changes.