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Tuesday 16.01.2018 | Name days: Lida, Lidija
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Central Statistical Bureau: consumer prices to keep climbing in 2011

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RU, Central Statistical Bureau Head Aija Žīgure

Central Statistical Bureau Head Aija Žīgure

Goods and services prices might fluctuate 2-2.5% in 2011, without considerable jumps, says the Central Statistical Bureau Head Aija Žīgure.

We agree to the forecasts goods and services prices might fluctuate 2-2.5% on average. We do not hope there will be many traders’ profit will be capable of compensating the price gains linked to the tax rise. It is yet quite difficult to judge about that – some of them will, for sure, but not all of it. Therefore, it is most likely already February will report these figures, told Zigure, adding that it is that complex, because we depend on prices in other countries as well.

Considering the Estonian consumer prices gaining 5.7% in 2010, with the average price increase of 3%, she points out that big average price jump does not expect Latvia. Price level in Latvia is already sufficiently high and the economic bonds among the Baltic states are real tight, which means we cannot afford to skyrocket prices, because people will simply shop elsewhere. Marketing is a very complex matter, there is no point in raising prices too high, because no one would buy anything. If our prices are much higher than in Estonia, we will simply shop there, because the 5% climb is not never-ending, it will go back. However, I do not expect considerable price gains. I believe it is enough for us with 2.5%, she says.

On looking back at 2010, Zigure points out inflation came back last year, after 11 months long deflation period.

The average price is currently on the level of July 2009, without reaching the record high level in March 2009, while we are approaching it. When considering specific sectors, price dynamics differs, certain goods and services prices kept falling.

It is still a good time for purchasing a car, if you have money, because prices have stooped declining and start stabilising. Even surging a little, tells Zigure.

The Baltic States reported similar 2010 consumer price dynamics tendencies. All of them showed negative inflation in 2009 and 2010. The shortest deflation period was in Lithuania, while the longest – in Latvia. Estonia registered positive inflation earlier than others – in March, 2010, while the period halted in September in Latvia. Estonian consumer prices grew 5.7% in 2010, with the average price climb of 3.0%. Our price climb level is the lowest among the Baltics, stresses the Bureau Head.

Maastricht criteria indicator for Latvia formed 1.5% in November 2010, while 1.2% in December.

BNN already reported consumption prices surged 2.5% in Latvia, including 4.3% for goods and 2.1% for services. To compare, consumption prices droped 1.2% in 2009.


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  1. BNN says:

    How does she know the same price does not expect us?

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