bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Ceturtdiena 23.03.2017 | Name days: Mirdza, Žanete, Žanna
LatviaLatvia

Consumer price level in Latvia up 1.0% in 2016

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUDuring the year, the average level of consumer prices increased by 1.0%. Prices of goods had increased by 0.3%, while prices of services had grown by 2.9%.

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

Compared to the corresponding month of the previous year, the average level of food and non-alcoholic beverage prices had increased by 2.1% in October 2016. Rise was recorded in prices of poultry, dried, salted or smoked meat, sugar, bakery products, milk products, fresh vegetables, fresh or chilled fish, pork, salt and spices, oils and fats, sweets, preserved or processed fish and seafood-based preparations, jams and honey, and chocolate. Reduction, in turn, was observed in prices of fresh fruit, coffee, eggs, cheese, and potatoes.

Prices of tobacco products rose by 5.3%. The average level of alcoholic beverage prices grew by 0.4%, which was mainly affected by the increase in prices of wine and spirits, while prices of beer diminished.

Goods and services related to housing became cheaper by 1.2%. Drop was registered in prices of heat energy, natural gas, solid fuels, whereas rise was recorded in maintenance charges in multi-occupied buildings, prices of refuse collection, sewage collection, services for the maintenance and repair of the dwelling, and water supply.

The average level of health care prices grew by 3.0%, which was mainly due to the rise in prices of pharmaceutical products, dental services, prices in medical specialist practice, as well as prices of rehabilitation centre services.

Prices of cultural services grew by 3.4%. Rise was observed also in prices of flowers, package holidays, recreational and sporting services. Audio-visual equipment became cheaper.

During the year, prices of restaurant and hotel services increased by 2.1%. Prices of restaurant, café and fast food services grew by 2.0% and prices of canteen services – by 2.2%. The average level of hotel service prices had increased by 3.1%.

Among other commodity groups, the most significant growth was recorded in prices of telecommunication services, fuels for transport, financial services, and second-hand motor cars. Prices of non-durable household goods, in turn, diminished.

Compared to September 2016, the average level of prices grew by 0.8% in October 2016 . Prices of goods increased by 1.2%, while prices of services declined by 0.3%.

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

During the month, prices of food and non-alcoholic beverages grew by 1.2%. Within the food group, the increase in prices of fresh vegetables had the most significant impact on the price changes. Rise was observed in prices of milk, cheese and eggs, pasta products, sugar, vegetable oil, meat preparations, pork, and butter. Reduction was recorded in prices of fresh fruit, dried, salted or smoked meat, coffee, and potatoes.

The average level of alcoholic beverage prices rose by 0.9%, which was affected by the end of wine and beer sales. Prices of spirits decreased. Prices of tobacco products, in turn, rose by 0.6%.

As clothing of the winter season kept entering the market, prices of garments grew by 7.3% and prices of footwear by 0.8%.

Within the transport group, the average level of prices rose by 1.8%, which was mainly influenced by the 4.2% growth in prices of fuels for transport. Prices of spare parts and accessories for personal transport equipment, maintenance and repair of personal transport equipment became more expensive. In its turn, prices of passenger transport by air decreased.

Within the recreation and culture group, main drop was recorded in prices of package holidays. The average level of fiction books reduced as well.

Within the other commodity groups, the most notable changes were observed in prices of articles for personal hygiene and beauty products – decline of 1.3% due to the sales.

Ref: 102.109.109.4997


Leave a reply

Kucinskis hopes to find a new director for State Chancellery within two weeks

Latvian Prime Minister Maris Kucinskis hopes to find a new manager for the State Chancellery within the next two weeks.

InnoEnergy business opens an office in Latvia

International business accelerator company InnoEnergy has opened an office in Latvia. This objective of this company is preparing new and innovative technologies developers for attraction of investments as part of InnoEnergy accelerator.

Bank of Latvia increases inflation outlook for 2017 to 2.7%

The Bank of Latvia has increased its inflation outlook for 2017 from 1.6% to 2.7%, as reported by the bank’s press-service.

CC permits Lithuanian company to acquire decisive influence over Latvian businesses

Latvia’s Competition Council has permitted two mutually associated deals to be performed by W.P.Carey and Kesko, allowing the two concerns to acquire decisive influence over Lithuanian Baltic Retail Properties and three companies registered in Latvia – K Prof, Polo LS and Daugavkrasts M.

Estonian military transport firm co-operates with leading Norwegian and British companies

Estonian military transport manufacturer Milrem has made a joint product with Norwegian weapon-maker Kongsberg and British remote system producer Qinetiq North America.

Welfare Ministry opposes diverting part of social budget to healthcare

Experts view Finance Ministry’s proposal to divert certain parts of the social budget to pay for certain healthcare services. Welfare Ministry is especially cautious about this proposal.

Saeima agrees to publish names of disciplinary punished judges

Publication of information about disciplinary penalties applied to judges, their names and surnames will no longer be prohibited, as stated by amendments to the Judicial Disciplinary Liability Law supported by the Saeima in the first reading on Thursday, 23 March.

Experts: internet users open up 30% of fraudulent e-mail letters

Cyber criminals are becoming more and more cunning and their fraudulent e-mails – harder and harder to differentiate from real ones. Internet users open up to 30% of fraudulent e-mail letters, explains eScan antivirus developers.

Minister: Latvia supports International Coalition’s fight against Daesh

«The fight of the International Coalition against Daesh has become a very effective instrument to help reduce Daesh military, financial and recruitment capabilities,» said Latvian Foreign Affairs Minister Edgars Rinkevics.

New pulp factory planned in Estonia

Estonian entrepreneurs have envisaged building a high-tech pulp-making plant near the city of Tartu and have submitted the plan for confirmation from Estonian national special planning authorities.

Ventspils Freeport Authority announces procurement

Procurement has been announced for the construction of an access road in Ventspils, Talsu Street 200 and landscaping of nearby territories so that one of the land tenants can commence construction of their building there, as reported by Ventspils Freeport.

Estonian investors consider construction of pulp factory in Latvia

Investors that consider building a pulp factory worth EUR 1 billion in Estonia’s southern region allow for the possibility of getting permission for the same project in Latvia, because this process can take a long time in Estonia.

Russian singer barred from going to Eurovision in Kyiv

Ukrainian authorities have banned Russian Eurovision representative from entering Ukraine, where the pop song contest Eurovision is to be held in May.

Travel passports planned to be introduced in Latvia

Deputies have submitted amendments to the Personal Identification Documents Law, suggesting the adoption of travel passports to avoid situations when people are denied the right to travel freely or participate in elections.

Tragic attack in London

In a tragic attack on civilians and police in London, five people have been killed and no less than 40 injured.

Farmers urge voting in favour of preserving land in the hands of local residents

A letter with a request to support farmers, countryside residents and amendments to the Law on Land Privatisation in Rural Areas has been sent to members of the Saeima.

Officials support Finance Ministry’s proposals for medium-term tax strategy

At the 22 March meeting of the National Economy Council, members of the parliament decided to conceptually support Finance Ministry’s proposals for medium-term tax strategy.

Ameriks received nearly 200,000 euros from fast loan companies in interest pay

Vice-Mayor of Riga Andris Ameriks received income of nearly 200,000 euros in interest pay from fast loan companies 4finance and Mogo last year, according to the declaration for 2016 submitted to the State Revenue Service.

Estonia to reduce availability of plastic bags in shops

Having passed amendments to the Estonian «Packaging Law», the Riigikogu has adopted a plan to reduce the use of plastic bags in the Baltic country over the coming years.

Latvian businesses in Japan to be provided with stable tax payment regime

Latvia businesses working in Japan will be provided with a stable tax payment regime that will not be influenced by amendments to Japan’s tax regulations, as stated in Saeima’s report.

Multiple parties to gather in a single candidate list to compete with Lembergs

Latvian Association of Regions, National Alliance, For Latvia’s Development and Unity will start at municipal elections in Ventspils under a single candidate list, said the leader of this unified list Girts Valdis Kristovskis in an interview to Latvijas Avīze.

Reirs: ministry’s offered tax reform will change nothing for most pensioners

Finance Ministry’s offered tax reform will add only slight changes. Most pensioners will not feel any changes from this reform – neither good, nor bad, said Welfare Minister Janis Reirs in an interview to Rīta panorama.

Canadian ambassador: Latvia and Canada are closer than ever before thanks to CETA

«All Latvian exporting companies – those that already export goods to Canada and those that consider doing that – will benefit from the Comprehensive Economic and Trade Agreement,» says Foreign Affairs Ministry’s parliamentary secretary Zanda Kalnina-Lukasevica.

Expert: cargo transports through Iran offer a major step for international logistics market

Over the course of nine months, since Latvian logistics company Pro Logistic Services opened an office in Iran, the volume of cargoes and the number of serviced clients has grown by 15%.

Eastern Hospital’s Gynaecology Clinic to be provided with 500,000 euros to reduce queues

Riga Eastern Clinical University Hospital’s Gynaecology Clinic will be provided with funding of EUR 513,622 from the state budget to help reduce queues.