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

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.