Estonia’s producer price index of industrial output (PPI) rose by 1.7% in August 2024, compared to the same period of 2023, according to data from Statistics Estonia, ERR reports. Producer prices rose by on year 1.4% in manufacturing but fell by 1.9% in the production of food products. Compared to July 2024, the PPI rose…
The Lithuanian fish processing company, Port Lite, has invested EUR 80mn in a new salmon processing plant in the Latvian port city of Liepaja, Baltic News Network reports. Sigitas Ambrazevicius, founder and owner of Port Lite, said that the 15,000 m2 plant would process around 25,000 tonnes of salmon per year. The company will sell…
The Latvian government should keep the VAT rate on locally grown fresh fruit, berries, and vegetables reduced at 12% in the coming years as well, Agriculture Minister Armands Krauze stated, BNS reports. The minister said that he would insist on maintaining the reduced VAT rate. Moreover, he argued that the lower rate should be applied…
Consumer prices in Latvia rose by 0.7% in August 2024, compared to the same period of 2023, according to the Central Statistical Bureau’s (CSP) data, LETA reports. Compared to July 2024, consumer prices fell by 0.5%, however. Prices of food and non-alcoholic beverages increased by 3.5%, alcoholic beverages and tobacco by 7%, clothing and footwear…
The consumer price index (CPI) in Estonia rose by 3.2% on year in August 2024, according to data from Statistics Estonia, ERR reports. The price of goods rose by 1.4% and services by 6.3% over a year. Compared to July 2024, the CPI rose by 0.4%. The CPI was affected the most by the increase…
Inflation in Estonia is expected to increase as of autumn 2024, with overall inflation projected to reach 4% by the end of the year, according to some analysts, ERR reports. The analysts attribute the anticipated rise to persistently high energy prices and wage growth driving up service costs. Despite a significant 40% surge in grocery…
The volume of transit shipments of cereal products from Russia via Latvia totalled 994,726 tonnes in the first half of 2024, which was up 39.3% from 714,097 tonnes in the same period of 2023, according to data from the State Revenue Service (VID), LETA reports. Wheat and maslin accounted for 598,705 tonnes of the total…
Consumer prices in Latvia rose by 1.4% in June 2024, compared to the same month in 2023, according to data from the Central Statistical Bureau of Latvia (CSP), LETA reports. Compared to May 2024, consumer prices dropped by 0.1%, however. Average prices in a 12-month period rose by 1.9% when compared to the previous 12…
Amid rising incomes and optimism about their financial situation, Lithuanians are spending more on food and non-essentials but are increasingly reluctant to dine out due to high restaurant prices driven by rising labour costs and the expiration of pandemic-era tax breaks, LRT reports. While supermarket food sales are boosting economic growth, restaurant turnover has fallen…