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Latvia March Output Price Inflation Lowest In 22 Months

4/24/2012 6:26 AM ET

Latvia's producer price inflation slowed to the lowest level in twenty-two months in March, data released by Statistics Latvia showed Tuesday.

Output price inflation slowed to 5.4 percent in March from 6.7 percent in February. The latest figure was the lowest since May 2010, when producer prices moved up 3.3 percent.

Prices in the mining and quarrying industry rose 5.4 percent annually, while manufacturing prices gained 1.5 percent. There was a 19.4 percent annual growth in output prices of electricity, gas, steam and air conditioning supply during the month.

Output prices of goods sold in the domestic market grew 9.5 percent year-on-year, while prices of products meant for the overseas market edged up 0.1 percent in March.

On a monthly basis, producer prices edged down 0.4 percent in March, reversing the previous month's 0.2 percent increase.

by RTT Staff Writer

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