Financial News: Lithuania Producer Prices Fall Sharply In October

Lithuania Producer Prices Fall Sharply In October

11/13/2023 - 07:24:00 (RTTNews)

(RTTNews) - Lithuania's producer prices decreased for the seventh successive month in October, and at a faster pace, figures from Statistics Lithuania showed on Monday.

The producer price index fell 8.2 percent year-on-year in October, after a 5.9 percent decline in the prior month.

The overall price change was mainly influenced by the decrease in the prices of refined petroleum products, which dropped by 17.7 percent. Prices in the manufacturing sector alone fell by 8.0 percent.

Excluding refined petroleum products, producer prices slid 5.9 percent annually in October after a 6.3 percent decline in the preceding month.

Producer prices for products sold on the Lithuanian market decreased 9.7 percent annually in October, and prices for products sold on the foreign market were down 6.7 percent from a year ago.

On a month-on-month basis, producer prices declined 0.9 percent in October, reversing a 1.4 percent rise in the previous month.

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