Latvia Producer Prices Decline For Fourth Month

(RTTNews) - Domestic producer prices in Latvia dropped for the fourth month in a row in August, preliminary data from the statistical office showed Friday.

The producer price index for the domestic market fell 1.1 percent year-on-year following a 1.2 percent decline in July. Prices have been falling since May.

The PPI for the non-domestic market rose 2.0 percent year-on-year after declining in the previous two months. The prices of products exported to euro area countries grew 2.1 percent and those of products exported to non-euro area countries increased by 1.9 percent.

The total PPI rose for the first time in three months, up 0.5 percent in August. Prices were higher in several manufacturing categories including those of wood products, waste collection, mining and quarrying and in production of chemicals. These were offset by declines in the utilities industry.

Total producer prices rose 1.0 percent month-on-month in August with those for the domestic market rising 0.4 percent and those for the export market gaining 1.4 percent.