FX.co ★ Latvia Producer Prices Rebound to 21-Month High

In February 2025, Latvia's producer prices rose by 3% on an annual basis, recovering from a revised decline of 0.5% in January. This marked the most significant increase since May 2023. The upturn was primarily led by a noticeable recovery in the prices of electricity, gas, steam, and air-conditioning supply, which surged by 6%, compared to a decline of 13.5% in January. However, there was a slight decline in prices for mining and quarrying, which decreased to 6.3% from 6.6%, manufacturing, which fell to 1.6% from 1.9%, and water supply, sewerage, waste management, and remediation activities, which dropped to 8.2% from 8.6%. Additionally, the prices for products sold in the domestic market bounced back by 1.1%, a reversal from the 3.2% decrease seen previously. Meanwhile, prices in the foreign market accelerated to 4.7% from 2.6%. On a monthly scale, producer prices jumped by 2.5% in February 2025, up from 0.1% in the prior month, reaching their highest level since August 2022.