In August 2020, compared to July, the level of producer prices in Latvian industry did not change, according to the data of the Central Statistical Bureau (CSB). The price level for products sold on the domestic market decreased by 0.1%, but for exported products increased by 0.2%. The level of producer prices for exports to euro area countries increased by 0.6%, while for exports to non-euro area countries it decreased by 0.2%.
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The increase in prices in the manufacture of wood and of products of wood and cork, except furniture, had an increasing effect, according to the CSB. The reduction in prices for electricity, gas, steam and air conditioning had a depressing effect.
In August of this year, compared to August 2019, the average level of producer prices in Latvian industry has decreased by 2.7%. The price level for products sold on the domestic market has decreased by 4.7%, for exported products by 0.9%. Prices for exports to euro area countries decreased by 0.4%, for exports to non-euro area countries by 1.4%.
According to the CSB data, the most significant impact was the decrease in prices for electricity, gas, steam and air conditioning supply. Rising prices for the repair and installation of machinery and equipment had an upward effect.
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