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Financial News: Lithuania Producer Prices Fall For Fifth Month

Lithuania Producer Prices Fall For Fifth Month

07/10/2020 - 07:57:00 (RTTNews)

(RTTNews) - Lithuania's producer prices declined for the fifth month in a row in June, though at a softer pace, figures from Statistics Lithuania showed on Friday.

The producer price index decreased 11.4 percent year-on-year in June, following an 16.1 percent decrease in May.

The decline in prices was mainly due to an increase in prices for refined petroleum products and a decrease in wood and wood products prices, the agency said.

Excluding refined petroleum products, producer prices fell 3.4 percent annually in June, following a 3.7 percent decline in the preceding month.

Producer prices for products sold on the Lithuanian market decreased by 7.7 percent annually in June. Prices for products sold on the foreign market fell by 13.8 percent from a year ago.

On a month-on-month basis, producer prices grew 2.7 percent in June, after remaining unchanged in the prior month.

Separate data from the statistical office showed that the trade balance logged a surplus of EUR 2.7 million in May versus a deficit of EUR 474.9 million in the last year.

In April, the trade surplus was EUR 34.8 million.

Exports declined 21.8 percent yearly in May, following a 20.1 percent fall in April.

Imports decreased 34.4 percent annually in May, following a 28.6 percent fall in the preceding month.

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