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Financial News: Latvia PPI Inflation Accelerates Further

Latvia PPI Inflation Accelerates Further

09/21/2022 - 09:55:00 (RTTNews)

(RTTNews) - Latvia's producer price inflation accelerated for the second successive month in August, figures from the Central Statistical Bureau showed on Wednesday.

The producer price index climbed 35.0 percent year-on-year in August, faster than the 32.4 percent surge in July. Prices have been rising since January 2021.

Among components, prices for electricity, gas, steam and air conditioning supply grew the most, by 138.3 percent annually in August, and those for water supply rose 23.2 percent.

Prices for manufacturing also registered a double-digit growth of 17.4 percent and mining and quarrying prices gained 18.1 percent.

Domestic market prices were 61.6 higher in August compared to last year and foreign market prices increased 13.2 percent.

On a monthly basis, total producer prices moved up 4.1 percent in August, following a 4.0 percent rise in July.

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