Latvia Producer Prices Rise Most In 21 Months

(RTTNews) - Latvia's producer prices increased at the fastest pace in nearly two years, figures from the Central Statistical Bureau showed on Friday.

The producer price index climbed 3.0 percent year-on-year in February, reversing a 0.5 percent fall in the previous month.

Moreover, this was the fastest rate of growth since May 2023, when prices had risen 4.4 percent.

Among components, prices for electricity, gas, steam, and air conditioning supply alone grew by 6.0 percent annually in February, and those for mining and quarrying rose by 6.3 percent. Data showed that prices for the manufacturing sector increased by 1.6 percent.

Domestic market prices were 1.1 percent lower compared to last year, while foreign market prices increased by 4.7 percent.

On a monthly basis, total producer prices moved up 2.5 percent in February.