Latvia registers EU's steepest reduction in producer prices in November

This past November, producer prices in Latvia decreased 0.4 percent, compared to October, which was the largest reduction across the European Union, according to the latest data from the EU's statistical office "Eurostat".

Denmark also registered a 0.4 percent reduction in producer prices. Producer prices also reduced in Belgium and Slovakia - by 0.2 percent in each, as well as in Cyprus - by 0.1 percent.

On the other hand, producer prices in Lithuania, Malta and Finland remained unchanged.

At the same time, the largest monthly increase was registered in Sweden - by 1.6 percent, followed by Ireland, Greece and Great Britain - all by 0.7 percent. Producer prices in Estonia increased by 0.1 percent in November.

Compared to October, producer prices in November increased 0.3 percent in the EU and 0.2 percent in the eurozone.

On the other hand, compared to November 2010, producer prices grew 6.3 percent in the EU and 5.3 percent in the eurozone.

Compared to the same month last year, producer prices in November 2011 increased in all member states for which data are available.

The largest annual increase was registered in Great Britain - 11.6 percent, Lithuania - 10.8 percent, and Latvia - 9.1 percent.

Compared to November 2010, producer prices in Estonia grew 3.1 percent.

LETA

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