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

Consumer prices grow by 1.2% in Latvia

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to May 2014, the average consumer price level grew by 1.2% in May 2015. Prices of goods have increased by 0.4% and prices of services – by 3.2%. Compared to last year, the average consumer price level over the last twelve months grew by 0.6%.

The greatest pressure on the average level of consumer prices in May 2015, as compared to May 2014, was put by increase in prices of goods and services related to housing, recreation and culture, hotel and restaurant services, health care, as well as by drop in prices of transport goods and services, according to the latest data from the Central Statistical Bureau of Latvia.

The average food price level in May 2015, as compared to the corresponding month of the previous year, has increased by 0.2%. Affected by seasonal factors, prices of vegetables had the most significant impact on the price growth. Growth was also recorded in prices of tea and coffee, fruit, confectionery and honey, juices and soft drinks. In turn, drop was observed in prices of milk and dairy products, cheese, eggs, potatoes, meat and meat products, oils and fats, sugar.

During the year the average price level of goods and services related to housing increased by 5.4%. Growth was recorded in prices of electricity, water supply, sewage collection, maintenance charges in multi-occupied buildings; in turn, prices of heat energy witnessed drop.

During the year the average health care price level increased by 2.2%. Growth was observed in prices of pharmaceutical products, dental services, consultations at specialist practice. Drop was recorded in prices of hospital services.

In transport group the average price level declined by 3.0%, which was significantly affected by drop in prices of fuels for transport of 11.3%. Decrease was also observed in prices of spare parts and accessories for personal transport equipment, passenger transport by air. Increase was recorded in prices of services of passenger transport by railway and road, of maintenance and repair services of personal transport equipment, of parking services.

In recreation and culture group prices on average grew by 2.2%, which was affected by growth in prices of cultural services, food for pets, recreational and sporting services, newspapers and periodicals. Prices of package holidays witnessed a drop.

Compared to May 2014, prices of hotel and restaurant services grew by 3.2%. Prices in cafés and restaurants increased by 3.8% and in canteens – by 2.9%. During the year the average price level of hotel services decreased by 2.1%.

Among other consumption groups, the most significant growth was recorded in prices of tobacco, non-durable household goods, services of hairdressing salons and personal grooming establishments.

Compared to the previous month, consumer prices in May 2015 grew by 0.6%. Prices of goods have increased by 0.6% and prices of services – by 0.5%.

The greatest pressure on consumer prices in May was put by growth in prices of food and non-alcoholic beverages, transport goods and services, clothing and footwear, recreation and culture, as well as by drop in prices of alcoholic beverages.

Prices of food grew by 1.0%. Affected by seasonal factors, prices of vegetables witnessed growth (+7.5%). Increase was mainly recorded for prices of carrots, sweet peppers, fresh cabbage. In turn, cucumbers and tomatoes became cheaper. Increase was also observed in prices of fruit, meat and meat products, and non-alcoholic beverages. In turn, decrease was recorded in prices of milk and dairy products, oils and fats, fish and fish products.

In May alcoholic beverages became cheaper (-1.3%), which was affected by discounts on spirits and beer.

Prices of clothing increased by 2.8% and of footwear – by 0.3%.

In transport group the average price level rose by 0.9%, which was mainly affected by an increase of 1.9% in fuel prices. Passenger transport by sea, parking services, purchase of motor cars became more expensive. Decrease was recorded in prices of spare parts and accessories for personal transport equipment.

Prices of recreational and cultural services grew on average by 0.7%. Increase was recorded in prices of cultural services, package holidays, TV, video, audio equipment; in turn, decline was observed in prices of garden products and flowers.

Among other consumption groups, the most significant growth was recorded in prices of hotel services, telecommunication services. In turn, prices of non-durable household goods witnessed decrease.

Ref: 102.109.109.7894


Leave a reply

Agreement reached with EC over MPC discount for energy-heavy manufacturers

After nearly a two-year long coordination process, Economy Ministry has received approval from the European Commission in relation to provision of state support to energy-heavy manufacturing companies that is intended to reduce the costs of those companies for electricity in relation to mandatory procurement component’s proportion in the end price of electricity, as BNN was informed by the ministry.

Association: Latvia has a distorted patient motivation for active rehabilitation

Latvian Association of Professional Rehabilitation Organizations believes Health and Labour Expert Physicians' State Commission’s reform would be rushed and would not provide intended results without first performing a change of the disability and labour ability inspection system.

Taxify and Uber drivers in Estonia declare 450,000 euros of income

Estonians, informing the state for income acquired through Uber and Taxify informal taxi services in 2016, have declared revenue totalling 450,000 euros, which is a jump from 67,800 euros.

State Audit elected in European Organisation of Supreme Audit Institutions board

Latvia’s State Audit has been elected in the board of European Organisation of Supreme Audit Institutions. This makes it one of eight board members for the next six years.

Discussions take place about the need to differentiate planned «healthcare fees»

An equal fixed payment rate for healthcare may not be the best solution, believes Prime Minister Maris Kucinskis. Coalition partners agree with the prime minister. They believe such a payment should be differentiated if it ever introduced.

Expert discussion: a unified transit corridor offer is desperately needed

«What is most important right now is the immediate creation of a unified transit corridor and a strategic plan for the development of the entire industry, as well as approval of strategic documents for the industry’s future activities,» as concluded at a discussion organized by Baltic Association – Transport and Logistics on the effect the new tax reform may have on the industry under conditions of declining cargoes.

Putin in France calls for lifting sanctions against Russian officials and companies

In a meeting with the new French President, Emmanuel Macron, Russian President Vladimir Putin has called for stronger economic relations and the lifting of sanctions imposed on Russia for its aggression against Ukraine.

Free skin test uncovers skin cancer for several Latvian residents

«The situation with skin cancer in Latvia requires attention, because three melanomas have been found among 3,000 people within eight hours. This shows a serious situation in the country,» BNN was told by chairman of Dermatologists Against Skin Cancer association Raimonds Karls.

Russian capital hit by tragic thunderstorm

Russian capital Moscow has been hit by a powerful thunderstorm that has taken the lives of at least 11 people. The storm on Monday, May 29, toppled hundreds of trees and that electrical cables were damaged as Moscow was lashed with high winds, hail and torrential rain.

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.

Newest comments