bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 29.05.2017 | Name days: Raivis, Raivo, Maksis
LatviaLatvia

Average consumer price level in Latvia up 1.2%

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to November 2015, the average level of consumer prices increased by 1.3 % in November 2016. Prices of goods grew by 0.6 % and prices of services by 2.9 %.

Compared to November 2015, in November 2016 the greatest pressure on the price changes was put by the rise in prices of food and non-alcoholic beverages, goods and services related to transport, health care, recreation and culture, alcoholic beverages and tobacco products, as well as by the drop in prices of goods and services related to housing, according to data from the Central Statistical Bureau of Latvia.

Compared to the corresponding month of the previous year, in November 2016 the average level of food and non-alcoholic beverage prices grew by 2.6 %. Increase was recorded in prices of milk, cheese and eggs, meat and meat products, sugar, bread and cereals, butter, sweets, fresh or chilled fish, salt and spices, jams and honey, soft drinks. Reduction, in turn, was observed in prices of coffee, vegetable oil, fresh vegetables, potatoes, and fresh fruit.

Prices of tobacco products rose by 5.2 %. The average level of alcoholic beverage prices has declined by 0.2 %.

Prices of goods and services related to housing fell by 1.5 %. Decline was observed also in prices of heat energy, natural gas, solid fuels, rentals for housing, prices of materials for the maintenance and repair of the dwelling, whereas increase was recorded in maintenance charges in multi-occupied buildings, prices of refuse collection, services for the maintenance and repair of the dwelling, sewage collection, and water supply.

The average level of health care prices grew by 2.8 %, which was mainly due to the rise in prices of pharmaceutical products, dental services, and prices in medical specialist practices.

Prices of goods and services related to transport went up by 1.3 %, which was mainly affected by 3.1 % increase in prices of fuels for transport. Increase was registered also in prices of maintenance and repair of personal transport equipment, while decline was observed in prices of spare parts and accessories for personal transport equipment, passenger transport by air, and passenger transport by road.

Prices of package holidays grew by 7.7 %. Rise was recorded also in prices of cultural services, newspapers and magazines, flowers, and recreational and sporting services. Decline was observed in prices of audio-visual equipment.

Among other commodity groups, the most significant growth was recorded in prices of catering services, telecommunication services, and articles for personal hygiene and beauty products.

Compared to October 2016, the average level of consumer prices rose by 0.2 % in November 2016. Prices of goods went up by 0.4 %, while prices of services went down by 0.2 %.

In November, the greatest pressure on the consumer price changes was put by the growth in prices of food and non-alcoholic beverages, goods and services related to transport, as well as by the decline in prices of clothing and footwear, goods and services related to housing, alcoholic beverages and tobacco products.

During the month, prices of food and non-alcoholic beverages went up by 1.2 %. Milk, cheese and eggs had the most significant increasing impact on the price level. Rise was recorded in prices of fresh vegetables, fresh fruit, butter, dried, salted or smoked meat, sweets, meat preparations, olive oil, and coffee. Decline, in turn, was observed in prices of poultry, fresh or chilled fish, vegetable oil, and potatoes.

The average level of alcoholic beverage prices fell by 0.6 %, which was affected by wine and spirits sales. Prices of tobacco products rose by 0.1 %.

Prices of garments dropped by 1.2 % and prices of footwear dropped by 1.7 %.

Prices of goods and services related to housing went down by 0.2 %. Drop was recorded in prices of materials for the maintenance and repair of the dwelling and rentals for housing.

Within the transport group, the average level of prices rose by 0.6 %, which was mainly affected by 1.8 % growth in prices of fuels for transport. Increase was observed in prices of spare parts and accessories for personal transport equipment as well as driving lessons.

Within the other commodity groups, the most notable increase was recorded in prices of flowers, newspapers and magazines, books, articles for personal hygiene and beauty products. Reduction was registered in prices of package holidays and pharmaceutical products.

Ref: 102.109.109.5091


Leave a reply

Week in Lithuania. PM: Coalition isn't the best

Lithuanian Prime Minister Saulius Skvernelis, whose government has been in office for half a year, says that the Lithuanian Farmers and Greens Union and the Lithuanian Social Democratic Party differ in their philosophies and approaches to many issues.

BNN summary of the week: Estonian minister disapproves of NATO; Latvia’s tax system lags behind

BNN offers a summary of this week’s topical news in a variety of categories: Business; Change; Future; Decline; Truth and Growth.

Municipal elections 2017: what do people say?

With municipal elections gradually coming close, BNN offers a compilation of opinions provided by experts from different industries. Short answers consist of thoughts about specific municipalities that affect respondents directly, and municipal administrations in general – what people expect from officials and what changes they expect from elections.

Trade of natural gas to legal clients in Latvia commences

Trade of natural gas to legal clients in Latvia has commenced. Latvenergo’s Elektrum product offers fixed-price contracts for 12-month supply period. The first gas supply contracts have been signed with clients in Latvia, the company reports.

Murniece: the biggest strength of Latvia’s parliament is public involvement

The biggest strength of Latvia’s parliament is the involvement of the public in resolution efforts of matters associated with child and women’s rights, the rights of disabled people, as well as security, tax policy and the European Union, says Saeima speaker Inara Murniece.

Corruption on decline in Lithuania, yet still remains troublesome

To wrap up the findings of a new corruption research ordered by the Special Investigation Service, an institution dealing with financial crimes in Lithuania, the situation is largely improving, yet not as fast as the service wishes.

Ventspils signs agreement with Chinese-Belarusian industrial park Great Stone

Vetnspils Freeport Authority and Ventspils High Technology Park signed an agreement yesterday with Chinese-Belarusian industrial park Great Stone, which is the largest infrastructure development project in Belarus, as reported by the freeport’s representatives.

Resignation filed by arrested Tallinn Deputy Mayor

The Deputy Mayor of the Estonian capital has stepped down from office after being arrested as part of a criminal case into violations of procedural restrictions of Tallinn procurement tenders.

Residents: situation in Latvia is developing in a wrong manner

54% of residents believe the situation in Latvia is currently developing in a wrong manner. A similar situation is noted in relation to the evaluation of the government’s work. 75% of respondents are critical about the government’s work. Only 17% of respondents are positive about the government’s work, according to results of Baltic International Bank Latvian Barometer.

Finance Minister: we have to be ready for flexibility in the reform plan

Currently we have to progress forward with the intended tax reform and prepare for a degree of flexibility, says Latvian Finance Minister Dana Reizniece-Ozola.

Zarins: unlike healthcare workers, Latvia’s roads are crumbling silently

Saeima deputy Ivars Zarins has submitted a proposal that offers restoring State Roads Fund and providing it with funding of 80% of excise tax for oil products. It is also proposed to divert income from vehicle operation tax and road use fee.

Price of oil slides 5%, though exporters decide to uphold production restrictions

Oil price has dropped by around five percent, even though oil-exporting countries have decided to maintain production limits until spring 2018.

Experts: role of free trade agreements to increase – especially with Asia

Latvian businessmen are already sufficiently active in several Asian markets. Their experience shows – these markets have great potential, according to representatives of the European Parliament’s Information Bureau.

Trump steps up pressure on NATO’s «indebted»

All NATO member states should pay their fair share of military expenses, has stated U.S. President Donald Trump in a meeting of NATO member states in Brussels.

Sunday expected to be summer-like hot in Latvia

This Sunday is expected to be summer-like hot, whereas the week after will be cold and rainy, as reported by Environment, Geology and Meteorology Centre.

Pensioner guide: old people are isolated from society in Latvia

«In my experience with social care, I was surprised by the dominating belief that the only thing old people need is elementary care – some food, a wash and a walk outside. Psychology of old people is something completely alien to people in Latvia,» says initiator of Pensioners Guide in Latvia Nelli Skadina.

SEB: reimbursements paid to nearly 340 loan clients over the past five years

In five years since the signing of the first loan payment insurance contract, reimbursements have been paid to nearly 240 SEB Bank clients who took loans and experienced unexpected difficulties after.

Number of tourists to Riga up 7% in 2017

In the first three months of 2017, a total of 263.5 thousand people were serviced in Riga’s hotels and tourist accommodations. 221.3 thousand of those tourists were foreign guests. Compared with the same period of last year, the number of tourists has grown 7%.

Estonian capital’s Deputy Mayor arrested over waste management dealings

The Deputy Mayor of Tallinn, Arvo Sarapuu, accused of deliberately violating procedural restrictions an especially large scale as part of a criminal case, has been arrested by the Estonian Internal Security Service.

Saeima ratifies convention on restriction for the use of mercury

On Thursday, 25 May, Latvia’s Saeima ratified Minamata Convention on Mercury. The objective of the convention is protecting people and the environment against anthropogenic emissions and leaks of mercury.

Europe experienced foreign investment records last year

Last year, Europe attracted a record large volume of foreign investments with 5,845 new direct investment projects, which is 15% more than the year before, according to results of EY European Attractiveness Survey.

Electric car charging network expands in Latvia to promote «greener thinking»

The once long-away dream of having cars that run on alternative fuel is now a reality – a special infrastructure network keeps expanding in Latvia to make electric cars more popular, says Motors Latvia BMW Group manager Ivars Norvelis.

Estonian Minister steps down after questioning NATO membership

Estonian Minister of Public Affairs Mihhail Korb has stated he resigns from office after saying he is not in favour of NATO membership.

Construction of a fish freezer commences at Ventspils Freeport

Construction work has commenced in Ventspils industrial territory on Talsu Street 200. Latvian National Fisheries Producers' Organisation plans to build a fish freezer facility there, as reported by Ventspils Freeport.

EC: there is a risk tax reform will increase inequality

There is a risk that Latvian government’s proposed tax reform will increase income inequality in the country instead of lowering it, said head of European Commission’s office in Latvia Inna Steinbuka.