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Friday 24.03.2017 | Name days: Kazimirs, Izidors
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Consumer prices in Latvia down 0.5%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to September 2014, the average consumer price level declined by 0.5% in September 2015. Prices of goods decreased by 1.7% and prices of services grew by 2.5%.

Compared to the previous twelve months, the average consumer price level over the last twelve months, have grown by 0.3%, according to data from the Central Statistical Bureau of Latvia.

The greatest pressure on the average level of consumer prices in September 2015, as compared to September 2014, was put by increase in prices of goods and services related to housing, alcoholic beverages and tobacco, individual care goods and services, restaurant and hotel services, as well as by drop in prices of transport goods and services, food and non-alcoholic beverages, clothing and footwear.

The average food price level in September 2015, as compared to the corresponding month of the previous year, had decreased by 1.5%. Milk, cheese and eggs, vegetables, bread and cereals, meat and meat products had the most significant lowering impact on the price level. In turn, growth was observed in prices of fruit, confectionery and honey.

The average price level of alcoholic beverages grew by 2.0%, which was significantly affected by increase in prices of beer and spirits. Prices of tobacco rose by 0.6%.

During the year, prices of clothing decreased by 3.9%, and prices of footwear – by 0.8%.

During the year prices of goods and services related to housing increased by 1.6%. Growth was recorded in prices of electricity, maintenance charges in multi-occupied buildings; in turn, drop was observed in prices of heat energy, natural gas and solid fuel.

In transport group the average price level declined by 5.8%, which was significantly affected by drop of 18.0% in prices of fuels for transport. Decrease was recorded in prices of passenger transport by air, spare parts and accessories for personal transport equipment; in turn, increase was observed in services of passenger transport by railway and road, maintenance and repair services of personal transport equipment, parking services.

Compared to September of the previous year prices of restaurant and hotel services witnessed growth. Prices in cafés and restaurants increased by 2.9%, and in canteens – by 2.4%.

Prices of individual care goods and services have increased by 2.5% during the year. Growth was recorded in prices of hairdressing salons and personal grooming establishments, financial services.

Among other consumption groups, the most significant growth was recorded in prices of telecommunication services, pharmaceutical products; in turn, decrease was observed in prices of hospital services and package holidays.

Compared to the previous month, consumer prices had decreased by 0.1% in September 2015. Prices of goods had decreased by 0.2%, while prices of services grew by 0.1%.

The greatest pressure on consumer price changes in September was put by growth in prices of clothing and footwear, individual care goods and services, as well as by drop in prices of transport goods and services, food and non-alcoholic beverages, goods and services related to housing.

Prices of food decreased on average by 0.6%. Affected by seasonal factors, prices of fruit decreased by 3.6%, with the most significant drop recorded in prices of apples, pears, grapes. Prices of potatoes have decreased by 14.7%. Fresh meat, milk and dairy products, bread and cereals, eggs became cheaper. In turn, growth was recorded in prices of vegetables, sausages and smoked meat, sugar, cheese, juices and soft drinks.

With the goods of the new season entering the market, prices of clothing grew by 3.3% and prices of footwear – by 9.2%.

In September prices of heat energy decreased on average by 1.2%. Decline was observed in prices of actual rentals for housing, solid fuel.

In transport group the average price level declined by 2.0%, which was mainly affected by drop of 4.8% in prices of fuels for transport. Prices of services of passenger transport by air and sea became cheaper.

In September prices of individual care goods and services increased by 1.9%.

Among other consumption groups, the most significant drop was recorded in prices of non-durable household goods, food for pets, package holidays. In turn, growth was observed in prices of internet services; with the beginning of a new academic year, increase was also recorded in prices of educational services.

Ref: 102.109.109.0862


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