- Notes: The figure shows histograms of log prices for each country relative to Latvia (when expressed in a common currency). An x-axis value of 0 means prices are identical whereas a value of 0.10 means the price is about 10% higher in the listed country than in Latvia. The y-axis measures the percentage of observations corresponding to that x-axis value. Each bilateral pair includes two histograms, one from 2012-2013 when Latvia had a pegged exchange rate and a second during 2014 after Latvia joined the euro zone. The prices included are weekly prices on approximately 5,000 goods each month sold by the world's largest clothing retailer.