Rutkaste
Rutkaste is the head of the Monetary Policy Department at the Bank of Latvia, where he has been vocal about the rising food prices contributing significantly to inflation in Latvia. He has highlighted the peculiarities of the Latvian pricing mechanism, noting that while producer prices and consumer prices typically follow each other, current trends show consumer prices increasing faster than producer prices. Rutkaste emphasizes the need for increased competition in the food sector to align prices more closely with production costs and has supported initiatives aimed at enhancing price transparency.
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Rutkaste explained that the increase in consumer prices is currently outpacing producer prices in Latvia.
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