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Financial News: Latvia PPI Inflation Eases Further

Latvia PPI Inflation Eases Further

08/19/2022 - 10:34:00 (RTTNews)

(RTTNews) - Latvia's producer price inflation eased for the second straight month in July, though slightly, figures from the Central Statistical Bureau showed on Friday.

The producer price index climbed 30.2 percent year-on-year in July, just below the 30.9 percent surge in June. Prices have been rising since January 2021.

Among components, prices for electricity, gas, steam and air conditioning supply grew the most, by 98.6 percent annually in July, and those for water supply rose 20.3 percent.

Prices for manufacturing also registered a double-digit growth of 18.7 percent and mining and quarrying prices gained 20.3 percent.

Domestic market prices were 47.5 percent higher in July compared to last year and foreign market prices increased 15.9 percent.

On a monthly basis, total producer prices moved up 2.3 percent in July, following a 2.6 rise in June.

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