Latvia's Producer Prices Rise 0.4% in January Despite Energy Drops
Producer prices in Latvian industry saw a 0.4% increase in January 2025 compared to December 2024, despite price drops in electricity and gas supply. This rise was driven by positive impacts from certain industries and export trends.
The domestic market witnessed a 3.2% decrease in prices in January 2025 compared to December 2024. However, prices of exported products grew by 2.6% during the same period. A significant contributor to this growth was the 2.0% increase in prices of products exported to non-euro area countries.
Looking at the previous year, prices of products sold domestically rose by 0.3% in January 2025 compared to December 2024. Exported products also saw a 0.4% increase. Notably, prices of products exported to euro area countries increased by 0.6% and 3.3% respectively in January 2025 compared to December 2024 and January 2024.
The overall increase in producer prices in January 2025 was influenced by price rises in the manufacture of selected food products and waste management activities. Despite negative impacts from energy prices, the positive trends in exports and certain industries contributed to the overall growth.
