Latvia PPI Inflation Accelerates Further

Latvia's producer price inflation accelerated for the second successive month in August, figures from the Central Statistical Bureau showed on Wednesday.

The producer price index climbed 35.0 percent year-on-year in August, faster than the 32.4 percent surge in July. Prices have been rising since January 2021.

Among components, prices for electricity, gas, steam and air conditioning supply grew the most, by 138.3 percent annually in August, and those for water supply rose 23.2 percent.

Prices for manufacturing also registered a double-digit growth of 17.4 percent and mining and quarrying prices gained 18.1 percent.

Domestic market prices were 61.6 higher in August compared to last year and foreign market prices increased 13.2 percent.

On a monthly basis, total producer prices moved up 4.1 percent in August, following a 4.0 percent rise in July.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lidl US has recalled its 8.4 oz Favorina branded Advent Calendar, i.e., Premium Chocolate with a Creamy Filling, citing potential Salmonella contamination, the U.S. Food and Drug Administration said. The products were available for sale at Lidl stores between October 12, 2022 and December 5, 2022. They will have a BEST IF USED BY year of 2023, and barcode number of 4056489516965. Vaccine partners Pfizer Inc. and BioNTech SE are seeking emergency use authorization or EUA from the U.S. Food and Drug Administration to offer their bivalent COVID-19 vaccine to children 6 months through 4 years of age. If authorized, the vaccine would be part of a primary series for children in this age group. Kraft Heinz Foods Co. is recalling around 2,400 pounds of ready-to-eat or RTE ham and cheese loaf products citing possible cross-contamination with under-processed products, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced.
Follow RTT