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Latvia Producer Price Inflation Accelerates Further

Latvia’s producer price inflation accelerated for the second straight month in April, figures from the Central Statistical Bureau showed on Monday.

The producer price index surged 29.9 percent year-on-year in April, faster than March’s 28.0 percent spike. Prices have been rising since January 2021.

Among components, prices for electricity, gas, steam and air conditioning supply grew the most by, 69.2 percent annually in April and those for water supply rose 30.1 percent.

Prices for manufacturing also registered a sharp growth of 23.2 percent and mining and quarrying prices gained 19.7 percent.

Domestic market prices grew 39.6 percent in April compared to last year and foreign market prices increased 21.8 percent.

On a monthly basis, total producer prices went up 3.1 percent in April. Both domestic and foreign market prices rose 1.9 percent and 4.3 percent, respectively.

The material has been provided by InstaForex Company – www.instaforex.com