Statistics of product gains
According to Central Statistical Bureau of Latvia, producer gains have remained stable and are growing
It is a little surprising that prices of exported goods were up as well, because global commodities dropped below September level in October. Partially, this can be explained with the time of procurement, which can differ significantly from the month the product is realized. However, no commodity price gains are expected in the nearest time amid the poor global demand.
Therefore, price dynamics of exported goods will depend on the workforce costs, assortment of the production and quality.
In October, producer prices remained flat month-on-month. Price gains of exported goods were compensated by the drop of production realized on the domestic market. The average price level was dragged down by a drop in energy, gas, heat and air conditioning supply.
Despite producer prices are reporting quite significant gains, the price climb of exported goods has slowed down. The domestic market is still the prevailing one. Price gains of products sold on the domestic market are much sharper.
Sluggish global economic growth carries along a moderate pressure on prices, which is something our exports must adapt to.