Latvia's producer price inflation weakened to the lowest level in more than two years in May, data released by the Central Statistical Bureau showed Thursday.
The producer price index rose 2.6 percent annually in May, following the previous month's 4 percent gain. The latest growth rate was the smallest since April 2010, when prices edged up 0.6 percent.
Output prices of products sold in the domestic market rose 4 percent annually, while prices in the overseas market moved up 0.6 percent in May.
Prices in the mining and quarrying industry climbed 8 percent year-on-year in May, while manufacturing prices rose 1.2 percent. There was a 6.3 percent annual increase in output prices of electricity, gas, steam and air conditioning supply during the month.
Month-on-month, output prices decreased 0.4 percent in May, reversing the previous month's 0.9 percent increase.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.