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Saturday 17.03.2018 | Name days: Ģertrūde, Gerda, Gertrūde

Consumer prices in Latvia up by 0.4%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to March 2014, the average consumer price level grew by 0.4% in March 2015. Prices of goods have decreased by 0.4%, while prices of services grew by 2.7%. Compared to 2014, the average consumer price level has increased by 0.5% over the last twelve months.

The greatest pressure on the average level of consumer prices in March 2015, as compared to March 2014 was put by increase in prices of goods and services related to housing, alcoholic beverages and tobacco, hotel and restaurant services, health care, as well as by drop in prices of transport goods and services, food and non-alcoholic beverages, according to the latest data compiled by the Central Statistical Bureau of Latvia.

The average food price level in March 2015, as compared to the corresponding month of the previous year, has decreased by 1.2%. Drop in prices of milk and dairy products (-10.1%) had the most significant impact on the price level. Drop was also observed in prices of vegetables, meat and meat products, oils and fats, sugar, cheese, fish and fish products. In turn, growth was recorded in prices of tea and coffee, confectionery and honey, bread and cereals.

Prices of tobacco rose by 5.4%. The average price level of alcoholic beverages grew by 0.9% which was affected by increase in prices of beer and spirits. In turn wine became cheaper.

During the year, prices of goods and services related to housing increased by 5.1%. Growth was recorded in prices of electricity, water supply, sewage collection, maintenance charges in multi-occupied buildings, services for maintenance and repair of the dwelling; in turn, prices of heat energy, solid fuels and gas witnessed a drop.

During the year the average health care price level increased by 1.5%. Growth was recorded in prices of consultations at specialist practice, pharmaceutical products, dental services, while drop was observed in prices of hospital services.

In transport group the average price level declined by 4.8%, which was significantly affected by drop in prices of fuels for transport of 13.9%. Decrease was also recorded in prices of spare parts and accessories for personal transport equipment, passenger transport by air. Rise was observed in prices of services of passenger transport by railway and road.

Compared to March 2014, prices of restaurant and hotel services increased by 3.6%. Prices in cafés and restaurants grew by 3.8%, in canteens – by 3.3%, and prices of accommodation services – by 1.9%.

Among other commodity groups, the most significant growth was recorded in prices of cultural services, non-durable household goods, services of hairdressing salons and personal grooming establishments. In turn drop was recorded in prices of package holidays, footwear.

Compared to the previous month, consumer prices in March 2015 grew by 0.8%. Prices of goods have increased by 1.0% and prices of services – by 0.4%.

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

Prices of food grew by 0.4%. Affected by seasonal factors, rise was observed in prices of vegetables (+2.4%), mainly cucumbers, sweet peppers and fresh cabbage. In turn tomatoes became cheaper. Prices of meat and meat products, ground coffee, sugar, cheese increased.

Prices of milk and dairy products, oils and fats, fruit witnessed a drop.

The growth in prices of clothing and footwear was affected by the end of seasonal sales campaigns and entering of new seasonal goods to the market. Prices of clothing increased by 9.2% and of footwear – by 12.7%.

Due to decrease in natural gas sale prices, heat energy in March on average became cheaper by 2.2%. Increase was recorded in prices of materials for the maintenance and repair of the dwelling.

In transport group the average price level grew by 1.8%, which was affected by growth of 4.3% in prices of fuels for transport.

Prices of spare parts and accessories for personal transport equipment have decreased by 1.5%.

In recreation and culture group prices grew by 1.1%. The greatest pressure on the average price level in the group was put by growth in prices of package holidays, flowers, books, as well as by drop in prices of food for pets.

The most notable rise in other consumption groups was recorded in the prices of beer, non-durable household goods. Increase was observed in commission fee for payment of bills in the national postal service “Latvijas Pasts”. Affected by discounts, prices decreased for individual care goods, tobacco.


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