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Saturday 23.06.2018 | Name days: Līga
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Annual inflation hits 4.7% in Latvia

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RUCompared to July 2011, the average consumer price level in August 2011 dropped 0.3%. Prices of goods fell 0.6%, while prices of services gained 0.2%, according to the Central Statistical Bureau.

Food added to the largest downward pressure to the price fluctuations, whereas goods and services related to health and housing pushed prices up.

In the food commodity group fresh vegetables and fruit dragged prices down the most, as their prices fell due to the season (20.9% and 7.6%, respectively). Sales campaigns contributed to price drops of bread and cereal products (-0.7%), cheese (-1.9%), eggs (-0.7%) and soft drinks (-0.5%). Along with the end of such best offers, prices of meat and meat products (+0.6%), milk and dairy products (+0.4%), sweets (+0.9%) and tea, coffee (+0.3%) went up as well.

The average price level of health care goods and services grew 0.9%, affected by the increase in the patient’s contribution to compensated medicines. With the end of several sales campaigns, prices of food supplements increased, while prices of services of doctors – specialists and sanatoriums were down.

In the housing group, heat energy tariffs rose 1.3%. Prices increased also for solid fuel (+1.4%) and rent (+1.6%).

Due to the end of sales campaigns, prices went down for footwear, household appliances, audio, video, photo and data processing equipment, cleaning and maintenance products and stationery. End of sales campaigns also pushed up prices of clothing as well as sports and recreational services. Higher prices were also recorded for tourism, tobacco products, pet food, insurance services, maintenance and repair of motor vehicles.

Consumer prices are up 4.7% in August 2011 versus August 2010. The average price level for goods has increased by 6.1%, but for services – by 1.0%.

The annual average rate of change in August 2011 was 3.4%.


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