Producer price level decreased by 2.7% in August

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The most significant impact was the reduction 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.

In August 2020, compared to July, the level of producer prices in Latvian industry did not change. 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%.

The increase in prices for the manufacture of wood and of products of wood and cork, except furniture, had an upward effect. The reduction in prices for electricity, gas, steam and air conditioning had a depressing effect.

This year, information on producer prices in industry is provided by more than 600 companies, which for the index calculations the CSB reports about 2.4 thousand prices every month, of which 1.3 thousand for products sold on the domestic market and 1.1 thousand for products and industrial services sold in export markets.

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