bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Tuesday 30.05.2017 | Name days: Lolita, Vitolds
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

Aseradens: businessmen are important partners for the country’s development

This week, Latvian Economy Minister Arvils Aseradens will invite businesses to contribute to development of innovations, adding that the country’s healthy development requires businessmen as invaluable partners, because development of products, services or innovations also contributes to the development of separate industries, as BNN was informed by Economy Ministry.

Murniece emphasizes Lithuania’s role in the fight against Russia’s information war

Latvia and Lithuania have to continue active cooperation in security and defence, as well as transport and energy, says Latvian Saeima speaker Inara Murniece during her meeting with Lithuanian Seimas Chairman Viktoras Pranckietis.

Need for additional income equally high in all three Baltic States

More than 36% of Latvian residents gained additional income in the past year, according to data of a study performed by Swedbank’s Institute of Finances.

Accommodation and catering service industry has become a risk sector in Latvia

Non-registered employment and accidents-wise, catering and accommodation service industry is one of Latvia’s risk sectors, as concluded by State Labour Inspectorate.

Construction costs in Latvia up 0.9% in April

Compared to March, the level of construction costs in Latvia increased by 0.9 % in April 2017. Labour remuneration of workers grew by 2.9 %, prices of building materials increased by 0.5 %, whereas maintenance and operational costs of machinery and equipment rose by 0.4 %.

Estonian wage growth slows down

The average monthly gross wage in Estonia, in the first three months of 2017, compared to the respective period last year, increased by 5.7%, Estonian statisticians have estimated and concluded that the country’s wage increase has continued to decelerate for year in a row.

Allied troops continue arriving in Latvia for military exercises

Saber Strike international military exercises in Europe will be taking place throughout 3 – 15 June. Allied troops and military vehicles continue arriving in Latvia. Because of that, there may be temporary traffic congestions on roads, as reported by Defence Ministry.

De Facto: millionaire Krumins’ family donates to UGF; four more houses to be built in Jurmala

Latvian businessman Julijs Krumins’ daughter donated EUR 19,000 to the Union of Greens and Farmers in May, as reported by LTV programme De Facto. Krumins has confirmed this, adding that «four more houses are to be built in Jurmala».

State law enforcement institutions join forces to combat crime

Latvia’s state law enforcement institutions join forces to combat crime. Work groups first meeting already held, as reported by State Police representatives.

Political fights for tax reforms planned to be concluded in Mid-June

Latvian government plans to view legislative drafts associated with the intended tax reform in the middle of June. Finance Minister Dana Reizniece-Ozola says the ministry is working hard to prepare legislative drafts. The objective is viewing legislative drafts in the government on 13 June, said the minister.

More rain expected in Latvia this week; air temperature to decline also

With the beginning of next week, weather in Latvia will be dictated by the south-east part of a cyclone. Central regions will likely experience short-term rain and even thunderstorms, as reported by the Environment, Geology and Meteorology Centre.

Germany: EU cannot fully depend on allies

The European Union cannot fully depend on the U.S. and UK anymore, the long-time German Chancellor, Angela Merkel, has evaluated in election atmosphere.

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.

Newest comments