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Financial News: Lithuania Producer Prices Rise; Trade Deficit Widens

Lithuania Producer Prices Rise; Trade Deficit Widens

06/09/2022 - 05:46:00 (RTTNews)

(RTTNews) - Lithuania's producer prices continued to increase in May, figures from Statistics Lithuania showed on Thursday.

Separate data from the statistical office showed that the trade deficit widened in April, as imports rose more than exports.

The producer price index increased 30.9 percent year-on-year in May, following a 28.0 percent rise in April.

Excluding refined petroleum products, producer prices grew 21.7 percent annually in May, after a 20.2 percent increase in the preceding month.

Producer prices for products sold on the Lithuanian market surged 47.9 percent annually in May and prices for products sold on the foreign market gained 18.7 percent from a year ago.

On a month-on-month basis, producer prices rose 3.3 percent in May, after a 4.3 percent gain in the prior month. Inflation eased for the second straight month.

Separate data from the statistical office showed that the trade deficit increased to EUR 815.2 million in April from EUR 278.5 million in the same month last year. In March, there was a trade deficit of EUR 765.1 million.

Exports gained 29.3 percent yearly in April, following a 34.1 percent rise in March.

Imports grew 44.7 percent in April, following a 42.5 percent increase in the previous month.

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