bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 02.12.2016 | Name days: Sniedze, Meta
LatviaLatvia

Consumer prices decline 0.7% in Latvia

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to August 2015, the average level of consumer prices did not change in August 2016. Prices of goods had decreased by 1.2 %, while prices of services had increased by 3.0 %.

Compared to August 2015, the greatest pressure on the average level of consumer prices was applied by the increase in prices in recreation and culture, prices of alcoholic beverages and tobacco, health care, prices in communication group, and prices of food and non-alcoholic beverages, as well as by the drop in prices of goods and services related to transport, goods and services related to housing, and clothing and footwear in August 2016, according to data from the Central Statistical Bureau of Latvia.

Compared to the corresponding month of 2015, the average level of food and non-alcoholic beverage prices had increased by 0.5% in August 2016. Increase was recorded in prices of sugar, fresh vegetables, pork, dried, salted or smoked meat, as well as fish. Whereas reduction was observed in prices of poultry, fresh fruit, milk, cheese and curd, eggs and butter.

Prices of tobacco products rose by 4.8%. The average level of alcoholic beverage prices grew by 0.8%, which was mainly affected by the increase in prices of spirits and wine, whereas prices of beer reduced.

During the year, the average level of footwear and garment prices dropped by 4.4% and 1.7%, respectively.

Prices of goods and services related to housing decreased by 1.7%. Reduction was recorded in prices of heat energy, natural gas, electricity, and rentals for housing, while increase was observed 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 rose by 2.6%, which was mainly due to the increase in prices of pharmaceutical products and dental services.

Within the transport group, prices declined on average by 3.7%, which was influenced by the 10.2% drop in prices of fuels for transport. Growth was recorded in prices of maintenance and repair of personal transport equipment and second-hand motor cars.

During the year, the level of prices within the communication group grew on average by 3.6%, which was mainly due to the rise in prices of wired and wireless telephone services. A drop was observed in prices of Internet access services.

Prices of package holidays rose by 9.7%. Increase was observed also in prices of cultural services, fiction books, garden products and flowers.

Among other consumption groups, the most significant increase was recorded in prices of restaurant, café and fast food services. Reduction, in turn, was recorded in prices of household cleaning and maintenance products.

Compared to July 2016, the average level of consumer prices had reduced by 0.7% in August 2016. Prices of goods had decreased by 1.0%, while prices of services had increased by 0.2%.

In August, the greatest pressure on the price changes was put by the drop in prices of food and non-alcoholic beverages, goods and services related to transport, clothing and footwear, and prices in miscellaneous goods and services group, as well as by the increase in prices of recreation and culture.

During the month, prices of food and non-alcoholic beverages fell by 1.7%. Within the food group, the drop in prices of fresh vegetables, mainly sweet pepper, tomatoes, cabbages, cucumbers and carrots, had the most notable downward influence on the price changes.  Reduction was recorded also in prices of potatoes, fresh fruit, and eggs. Increase, in turn, was observed in prices of poultry, fruit and vegetable juices, pork, fresh or chilled fish.

Along with the summer season discounts and sales, prices of footwear dropped by 5.3% and prices of garments fell by 0.8%.

Within the transport group, the average level of prices declined by 1.4%, which was mainly affected by the 3.5% drop in prices of maintenance and repair of personal transport equipment.

Within the culture group, the average level of prices rose by 0.6%, which was mainly due to the 5.1% growth in prices of package holidays.

Due to the sales prices of articles for personal hygiene and beauty products dropped by 3.8%.

Among other consumption groups, the most significant decline was recorded in prices of household cleaning and maintenance products, while the most notable rise was observed in prices of spirits, heat energy, as well as restaurant and café services.

Ref: 102.109.109.6795


Leave a reply

Following an investment of 3.3 million, K-rauta becomes K Senukai

On Friday, 2 December, Baltics’ largest construction, repair and household goods store network Kesko Senukai opened its first new concept shopping centre K Senukai in Riga, Lucavsalas Street. This venture cost the company EUR 3.3 million.

Saeima deputies allocated record-large amount of money for «friend projects»

The money of Latvia’s budget for next year allocated not with the intention to solve problems in priority industries but rather to satisfy desires of certain politicians and their lobby groups has reached an astonishing new peak – EUR 27.9 million, according to estimates, as reported by Ir.

Income from foreign travellers in Latvia declines

In Q3 2016, Latvia’s current account had a surplus of EUR 93.4 million or 1.5% of GDP, notes Bank of Latvia economist Linda Vecgaile.

airBaltic to sell Boeing 737 after replacing them with Bombardier CS300

Latvian national airBaltic airline intends to gradually update its fleet with Bombardier CS300 aircraft. The airline plans to sell its owned Boeing 737, says Martin Gauss, Chief Executive Officer of airBaltic.

Numbers of active voters in Latvia continue to decline before next year’s elections

47% of Latvian vote-ready citizens plan to take part in next year’s municipal elections, according to results of a survey carried out by SKDS following a request from the Central Election Commission in November.

BATL: transit industry’s potential is enormous, but not used to its fullest

Baltic Association – Transport and Logistics is satisfied that real and constructive work has commenced in cooperation with LDz Logistics and Transport and Communications Institute on Latvia’s transport and logistics, including the development of a strategy for the transit industry.

Ominous milestone: one-millionth Lithuanian to leave soon

The statisticians claim that, every day, 120 Lithuanians hop onto Scandinavia and Western Europe-bound planes in search of a better life. This month, Lithuania is likely to reach an ominous and heart-wrenching milestone with the country‘s émigré number expected to go over one million. To calm down the naysayers, the estimate is unofficial.

Snowy weekends expected in Latvia

The first days of December will go by under influence from a cyclone. Because of that, many regions of the country are expected to experience snowfall. Rain is only expected along the coast. Ice is expected to form as a result and visibility will likely reduce because of snowfall.

Three European cities plan to ban diesel cars

Looking for ways to improve their quality of air, the mayors of Madrid, Paris and Athens have on December 1 expressed readiness to introduce bans on cars and trucks with diesel engines by 2025.

French President Hollande refuses to run for re-election

France’s President François Hollande has unexpectedly announced that he would not run for re-election to the post.

Several hundred Estonian reserve soldiers summoned to unexpected drills

The cabinet of ministers of Estonia ordered on December 1 to hold snap military drills to test the ability of reserve troops to reach combat readiness in 24 hours.

Freight turnover and freight traffic declines at ports

Compared to Q3 2015, the volume of freights carried by land and pipeline transport has decreased by 1.8 million tonnes or 5.5 % in Q3 2016. The most notable drop in the volume of freights carried was recorded in rail transport – of 2.3 million tonnes or 18.9 %.

EU 2017 budget to provide the most support to youth and growth initiatives

In the next year’s budget, members of the European Parliament have secured larger support to unemployed youngsters and Erasmus+, as well as initiatives for support of small and medium-sized businesses, transport infrastructure projects and research. Commitment appropriations for 2017 total EUR 157.8578 billion, and payment appropriations EUR 134.49 billion.

Vejonis picks Kalnins as candidate for NAF commander

President of Latvia Raimonds Vejonis has decided to propose National Armed Forces Joint Staff Chief Leonids Kalnins for the post of commander of Latvia’s National Armed Forces. Kalnins was previously proposed by Defence Minister Raimonds Bergmanis, according to information from LETA.

Europol releases its Christmas calendar of EU’s most wanted criminals

European Union’s police body Europol has engaged in the often commercial pre-festive period by releasing Christmas advent calendar that will reveal one of bloc’s most wanted criminals every day up until Christmas.

Expert: Latvia’s real estate market is sick

In medical terms, Latvia’s real estate market is currently sick. It will only recover once all transactions are carried out using actual market price and those whose expectations are overestimated – drop out, said real estate specialist, member of Latvian Real Estate Association and board member of Real State Jurmala Igors Danilevics.

Prime Minister: Latvia’s economic growth is not as fast as it was expected in 2015

«Looking at national economy’s growth dynamics in 2016, we have noticed drastically different ratings. On the one hand, there are positive statistics that prove Latvia’s economic growth continues. It is not as fast as it was expected in 2015. It is expected that growth will continue in the future. A few days ago opinions of multiple banking experts appeared in the public space, saying that wage growth in Latvia will speed up next year. I would associate that with the government’s decisions and the Saeima’s approved budget for 2017,» – said Prime Minister Maris Kucinskis.

Estonia’s coalition distances itself from charges against ruling party

The coalition partners of Estonia’s Centre Party, which is headed by the Estonian Prime Minister, have this week distanced themselves from charges brought against the ruling party for allegedly receiving illegal political donations.

Finland’s Prime Minister blamed for attempts to limit press freedom

The Prime Minister of Finland Juha Sipilä has denied allegations that he has attempted to affect, how press covers allegations against him and his relatives.

Restrictions for alimony avoiders and other decisions viewed by the Saeima

On Thursday, 1 December, the Saeima will decide on the new Subsistence Guarantee Fund Law. This law states that driving rights can be revoked for alimony avoiders.

OPEC oil exporters agree to reduce oil output to increase price

The Organization of the Petroleum Exporting Countries agreed on November 30 for the first time since 2008 to reduce oil supply in an attempt to make global oil prices grow. The organisatrion’s head Mohammed Bin Saleh Al-Sada stated that a cut of 1.2 million barrels a day would start from January

Tragic dormitory fire in Turkey

Police in southern Turkey has detained six people after 11 pupils and a teacher died in a dorm fire.

Tick encephalitis infection cases increased by one-third in Latvia this year

Cold November forced ticks to enter hibernation. There is reason to believe tick activity in Latvia has ended for this year, admits entomologist Voldemars Spungis.

PHOTO: world’s first Bombardier CS300 aircraft arrives in Riga

On Wednesday, 30 November, Latvian airBaltic airline welcomed the world’s first Bombardier CS300 aircraft in Riga.

Retail trade turnover in Latvia up 0.2%

Compared to October 2015, total retail trade turnover rose by 0.2 % in October 2016. Turnover of retail trade in food products decreased by 2.7 %, whereas the turnover of retail trade in non-food products increased by 2.0 %.

Newest comments