bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 20.02.2017 | Name days: Smuidra, Vitauts, Smuidris
LatviaLatvia

Consumer prices down 0.8% in Latvia

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUDuring the year, average level of consumer prices reduced by 0.8 % in Latvia.  Prices of goods decreased by 1.6 %, while prices of services grew by 1.3 %.

Compared to May 2015, the greatest pressure on the average level of consumer prices was put by the decrease in prices of goods and services related to housing, goods and services related to transport, as well as by the increase in prices of alcoholic beverages and tobacco products, health care, restaurant and hotel services and prices in communication group in May 2016, according to data from the Central Statistical Bureau of Latvia.

Compared to the corresponding month of the previous year, in May 2016 average level of food and non-alcoholic beverage prices fell by 0.2 %. Decline in prices of fresh vegetables, coffee, milk, cheese, butter, and poultry had the most significant lowering impact on the price level. While prices of fresh fruit, sugar, bakery products, chocolate, dried, salted or smoked meat, and potatoes went up.

Mainly due to the rise in prices of beer, spirits, and wine, average level of alcoholic beverage prices grew by 5.5 %. Prices of tobacco products increased by 6.3 %.

During the year, prices of goods and services related to housing decreased by 5.1 %. Reduction was recorded in prices of heat energy, natural gas, electricity, and solid fuels, whereas increase was observed in prices of refuse collection, as well as services for the maintenance and repair of the dwelling.

Mainly due to the increase in prices of pharmaceutical products, average level of health care prices rose by 2.4 %. Price growth was recorded in medical specialist practice and dental services.

Within the transport group, mainly because of the drop of 13.4 % in prices of fuels for transport, level of prices declined on average by 5.6 %.  Passenger transport by air became cheaper, while maintenance and repair of personal transport equipment became more expensive.

Within the communication group, mainly due to the rise in telecommunication service prices, level of prices rose on average by 2.7 %.

Compared to May 2015, prices of restaurant and hotel services increased by 1.6 %. Prices of restaurant, café and fast food services grew by 1.9 % and prices of canteen services – by 1.6 %. During the year, average level of hotel service prices fell by 2.7 %.

Among other consumption groups, the most notable drop was recorded in prices of articles for personal hygiene and beauty products, cultural services. Whereas increase was observed in prices of footwear.

Compared to April 2016, in May 2016 average level of consumer prices rose by 0.6 %. Prices of goods increased by 0.5 %, and prices of services – by 0.8 %.

In May, the greatest pressure on the consumer price level was put by the growth in prices of food and non-alcoholic beverages, goods and services related to transport, clothing and footwear, alcoholic beverages and tobacco products, and prices in communication group, as well as by the drop in prices of goods and services related to housing.

During the month, prices of food and non-alcoholic beverages rose by 0.7 %. Within the food group, increase in prices of fresh fruit, bakery products, dried, salted or smoked meat, sugar, chocolate, poultry, and cheese had the most notable influence on the changes of price level. Whereas decline was recorded in prices of fresh vegetables, butter, and fresh or chilled fish.

Affected by the end of beer and spirit sales, average level of alcoholic beverage prices increased by 0.8%. Prices of tobacco products went up by 0.6 %.

Prices of clothing rose by 1.1 % and of footwear – by 2.1 %.

Decline was recorded in average level of heat energy (of 2.4 %) and solid fuel prices. Refuse collection became more expensive.

Within the transport group, mainly because of the increase of 1.8 % in prices of fuels for transport, average level of prices grew by 0.9 %. Passenger transport by air became more expensive.

Mainly due to the increase in prices of wired telephone services, average level of telecommunication service prices rose by 2.8 %.

Among other consumption groups, increase was recorded in prices of package holidays, as well as cleaning and maintenance products, whereas reduction was observed in average level of book prices.

Ref: 102.109.109.7895


Leave a reply

India’s second city outlaws disposable plastic

In Deli, India, which is home to over 16 million people, disposable plastic, including bags, cups and cutlery, has been banned.

Criminal process launched in relation to aircraft sliding off runway at Riga airport

Latvian State Police has launched a criminal process in relation to the incident that took place at Riga International Airport involving Vim Airlines aircraft.

Residents: situation with Latvia’s security and state defence has improved

Latvian residents’ concerns over state security have reduced, as noted in a study by SKDS ordered by Defence Ministry.

Estonian prime minister suggests giving citizenship to long-term residents

Non-citizens who have been living in Estonia for more than 25 years should be given citizenship, said Estonian Prime Minister Jüri Ratas in an interview to LTV programme De Facto.

Survey: residents intentionally try to pick services of small businesses

64% of Latvian residents intentionally try to pick services provided by small businesses, according to results of a survey performed by Swedbank Institute of Finances.

VAT reverse payment proposed for construction sector to combat grey economy

Representatives of the Cabinet of Ministers Grey Economy Combating Council, social and cooperation partners have reviewed the State Institutions’ work plan for limiting grey economy in 2016-2020. 60 specific goals were added to the project plan. Realizing those goals will help reduce grey economy to the average level across the EU by 2020.

Futuristic six-minute ride suggested for proposed Tallinn-Helsinki tunnel

As Estonia and Finland continue to discuss chances of building a transport tunnel under the Baltic Sea that would connect their capitals, an American company has suggested its solution that would ensure close-to-unbelievable maglev ride of six minutes for the 50 km distance.

Nekā Personīga: Harmony's influence – wife’s post in Live Riga taken by mother

After Saeima deputy Sandris Bergmanis wife left her post in Riga Tourism Development Agency’s Live Riga office left for a maternity leave, her place was quickly taken by Bergmanis’ mother, Nekā Personīga reports.

DNB: signing contracts with the bank over Skype will be a reality

By using Skype, the bank’s clients – private and legal persons – will be able to remotely receive all kinds of services: from informative consultations to signing of contracts, BNN was told by DNB Bank.

US Vice-President: we cannot imagine better allies than Baltics

Cooperation between Baltic States and United States of America remains strong, said Latvian President Raimonds Vejonis after his meeting with Baltic presidents and US Vice-President Mike Pence.

Kremlin opponent on way to recovery from suspected poisoning attack

To recover from possible poisoning attack, prominent Kremlin critic Vladimir Kara-Murza has left Russia to undergo rehabilitation treatment.

Rain and snow expected in Latvia this week

A wide low-atmospheric pressure area is currently found above Northern Europe. It will dictate weather conditions in Latvia this week: the sky will remain cloudy and precipitation will come often, as reported by the State Environmental, Geology and Meteorology Centre.

Ceasefire supposed to start in eastern Ukraine

According to an international agreement reached over the weekend in Munich, a ceasefire should start on Monday, February 20, in the Donbas war raging in eastern Ukraine.

Providus: parties delegate lesser-known members for municipal elections

Although it is currently unclear how many Saeima deputies will be taking part in municipal elections, the reason for such a step could be Saeima’s desire to realize its ambitions on a municipal level, says Providus researcher Iveta Kazoka.

Week in Lithuania: Armed Forces to offer diets for vegetarians

Following criticism over diet for vegetarians serving in Lithuania's Armed Forces, alternative menus have been worked out.

BNN summary of the week: higher wages, monopoly in Riga, no spanking in Lithuania

BNN offers a summary of this week’s topical news in a variety of categories, including change, business, fight, truth, growth and future.

KHL team was on board the aircraft that slid off runway at Riga airport

On Friday, 17 February, an incident involving Vim Airlines charter flight from Ufa took place at Riga International Airport. The aircraft slid on the runway before take-off.

List of Latvia’s most desired employers is unveiled

Latvenergo remains Latvia’s most desired employer for the fifth consecutive year. Latvijas Mobilais Telefons is on the second place and Rimi Latvia is on the third, according to results of a survey performed by cvmarket.lv.

Yield of cereals declines due to unfavourable meteorological conditions in Latvia

716.0 thousand hectares of land were covered with cereals in 2016 – 43.6 thousand hectares or 6.5 % more than in 2015, leading to the largest cereal cropland area observed since 1984.

Waze: Latvia is the seventh best country for driving a car

Latvia is the seventh best country in the world for driving a car, according to results of Waze’s Driver Satisfaction Index.

Largest expenses for Latvia’s birthday – funding for children to experience Latvia

The Latvian school bag is the biggest present to Latvian schoolchildren for Latvia’s 100th birthday, said Prime Minister Maris Kucinskis at a press-conference. EUR 13.5 million is planned to be allocated for the education programme. As part of it, children will be able to study outside of schools to learn about important affairs in Latvia.

Indian entrepreneurs to build pharmaceutical factory in Estonia

Pharmaceutical firm Bravo Group from India has announced plans to soon construct a pharmaceutical factory in Estonia.

Aircraft slides off runway before take-off at Riga International Airport

On Friday, 17 February, an incident took place at Riga International Airport involving Vim Airlines aircraft slid on runway before take-off.

Nordea and DNB bank hopes to become notable in Baltic pension segment

The newly-formed Nordea and DNB bank wishes to become an important player in the pension segment, the bank’s CEO Erki Razuke mentioned in an interview.

Cargo volumes in Estonian ports drop by third January-on-January

The amount of cargoes handled at Estonian ports managed by the state port company Tallinna Sadam has fell by 38.7% comparing January 2017 to January 2016.

Newest comments