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.
by RTT Staff Writer
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