Well the rate of increase in producer prices clearly peaked some months ago, but still the annual rate is very high, and this will be some time yet awhile working its way out of the system, although prices in the tradeable export sector are coming into line much more rapidly, and prices of both total production and the export sector did decline slightly month on month. We now need to watch very carefully the evolution in the consumer price index.
According
to data from Latvijas Statistika over the year December 2007 to December 2006 producer prices in Latvian industry increased by 13.1%. Compared to November, in December producer prices decreased by 0.1%. A year before – in December 2006, compared to December 2005, the prices increased by 13.2%, and compared to November 2006 the prices rose by 0.7%. Export prices rose 5.2% year on year, but fell 0.7% month on month from November.
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