FX.co ★ Latvia Producer Prices Fall 3.4%

The latest data from the Central Statistical Bureau, released on Monday, indicates that Latvia's producer prices have continued their downward trajectory in September. The producer price index contracted by 3.4 percent compared to the same month last year, marking a more pronounced fall than the 2.6 percent decline observed in August. This trend of deflation has persisted since July 2023.

In terms of specific sectors, the most substantial decline was observed in prices for electricity, gas, steam, and air conditioning supply, which plunged by 17.0 percent annually in September. Prices within the manufacturing sector also experienced a decline, dropping by 3.3 percent. Conversely, the mining and quarrying sector exhibited a modest increase in prices, rising by 0.1 percent.

On the domestic front, prices were 6.4 percent lower than in the previous year, while on the international stage, foreign market prices saw a marginal reduction of 0.5 percent. Evaluating the month-over-month performance, overall producer prices saw a slight decrease of 0.3 percent in September.