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Friday 24.03.2017 | Name days: Kazimirs, Izidors
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Consumer prices up 0.3% from Dec 2014 to Dec 2015

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

The average consumer price level in Latvia in December 2015, as compared to December 2014, increased by 0.3%, latest data by the Latvian Central Statistical Bureau (LCSB) indicate.

According to LCSB, the greatest upward pressure on the average level of consumer prices in December 2015, as compared to December 2014, was put by alcoholic beverages and tobacco products, goods and services related to housing, hotel and restaurant services, whereas the strongest downward pressure came from goods and services related to transport, food and non-alcoholic beverages.

In comparison with corresponding month of the previous year, the average level of food prices in December 2015 declined by 0.8 %. Milk and dairy products had the most significant impact on the price reduction.

A decrease was recorded also in prices of vegetables, cheese, oils and fats, as well as ground coffee, whereas increase was observed in prices of fruit, meat and meat products, buckwheat, eggs, potatoes and sugar.

Due to notable rise in prices of beer and spirits, the average level of alcoholic beverage prices increased by 5.7 %. Prices of tobacco products went up by 1.8 %.

During the year, prices of goods and services related to housing increased by 1.7 %. Rise was recorded in prices of electricity, refuse collection, housing maintenance services, while reduction was observed in prices of heat energy and natural gas.

Adversely affected by the reduction in prices of fuels for transport of 11.0 %, the average price level within transport group dropped by 2.3 %. Prices of passenger transport by air went down, whereas prices of services of passenger transport by railway and road, as well as prices of maintenance and repair services of personal transport equipment went up.

As compared to December of previous year, prices of hotel and restaurant services rose by 2.5 %. Prices in cafés and restaurants increased by 2.7 %, and in canteens – by 2.3 %. During the year the average level of prices of hotel services diminished by 0.3 %.

Among other consumption groups, the most notable increase was recorded in prices of telecommunication services and pharmaceutical products, while the most significant drop was observed in prices of individual care goods, hospital services, package holidays, as well as clothing.

As compared to 12 previous months, the average annual consumer price level rose by 0.2 %. In 2014, average level of consumer prices of the last 12 months increased by 0.6 %.

Ref: 111.111.111.3101


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