bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 18.12.2017 | Name days: Klinta, Kristaps, Kristofers, Krists
LatviaLatvia

CSB: consumer prices up 2.6% in Latvia

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to May 2016, the average level of consumer prices increased by 2.8 % in May 2017. Prices of goods grew by 2.6 % and prices of services by 3.6 %.

Compared to May 2016, the greatest pressure on the price changes was put by the rise in prices of food and non-alcoholic beverages, goods and services related to transport, goods and services related to housing, prices in miscellaneous goods and services group, and communication group, as well as decline in prices of clothing and footwear in May 2017, according to data from the Central Statistical Bureau of Latvia.

The average level of food and non-alcoholic beverage prices increased by 5.1 %. Rise was recorded in prices of milk products, cheese and curd, fresh vegetables, milk, butter, coffee, bakery products, fresh or chilled fish, dried, salted or smoked meat, pork, bread, yoghurt, eggs and sugar.

During the year, prices of footwear fell by 11.1 % and prices of garments by 1.0 %.

Prices of goods and services related to housing went up by 2.9 %. Increase was observed in prices of maintenance charges in multi-occupied buildings, heat energy and refuse collection, whereas drop was recorded in prices of natural gas.

Prices of goods and services related to transport grew by 3.9 %, which was mainly because of the rise in prices of fuels for transport (of 8.7 %) as well as prices of maintenance and repair of personal transport equipment. Reduction was registered in prices of passenger transport by road and passenger transport by air.

Within communication group, the average level of prices rose by 4.5 %, which was mostly affected by the growth in prices of wired and wireless telephone services.

Within other commodity groups, the most significant growth was recorded in prices of tobacco products, motor vehicle insurance, pharmaceutical products, restaurant and café services, and articles for personal hygiene and beauty products.

Compared to April 2017, in May 2017 the average level of consumer prices did not change. Prices of goods diminished by 0.1 % and prices of services increased by 0.4 %.

In May, the greatest pressure on the consumer price changes was put by the growth in prices of food and non-alcoholic beverages, health care, as well as by the decline in prices of clothing and footwear, alcoholic beverages and tobacco products.

Over the month, prices of food and non-alcoholic beverages rose by 0.5 %. Prices of fresh fruit, coffee, bakery products, dried, salted or smoked meat, and potatoes had the most significant increasing impact on the price level within the food group. The most notable decline, in its turn, was observed in prices of fresh vegetables, poultry, chocolate and sugar.

Within the group of alcoholic beverages and tobacco products, the average price level dropped by 0.3 %. Under the influence of discounts, prices of spirits, wine and beer reduced. The average level of tobacco product prices increased by 0.1 %.

Influenced by the start of the sales campaigns, prices of footwear dropped by 6.2 % and prices of garments fell by 0.1 %.

The average level of health care prices rose by 0.6 %, which was mainly affected by the growth in prices of pharmaceutical products.

Within other commodity groups, the most notable increase was recorded in prices of motor vehicle insurance, maintenance and repair of personal transport equipment. Reduction, in turn, was recorded in prices of articles for personal hygiene and beauty products, as well as fuels for transport.

Ref: 225.109.109.4098


Leave a reply

Week in Lithuania. Lithuanian doctors to offer voluntary test on alcohol habits

Lithuania's Health Minister Aurelijus Veryga has drafted a new scheme for residents attending health care institutions to fill out tests that would reveal whether the person's drinking habits signal a possible addiction.

Citadele Index: businessmen are more optimistic about economic growth

After a four-year gap, optimism has been noticed in all of Latvia’s business sectors. For the third consecutive quarter Citadele Index value exceeds 50 points. Businessmen are also positive about the country’s economy and their own finances, according to the final Citadele Index study for 2017.

Bank of Latvia increases GDP growth outlook to 4.7% for 2017

Bank of Latvia has decided in increase gross domestic product growth outlook from 4.2% to 4.7% for 2017, as reported by the bank’s governor Ilmārs Rimšēvičs.

Latvian residents’ opinion of government’s work remains negative

Latvian residents voiced the biggest degree of dissatisfaction about the development of the situation in Latvia and the work performed by the government. Although the previous evaluation of government’s work had increased by four points, it has since declined by two points, according to data from Baltic International Bank’s Latvian Barometer.

Eel fishing to be restricted in Baltic Sea for three months

European Union Fisheries Council has decided to restrict eel fishing for three months in 2018 in all waters, including the Baltic Sea. Although the World Wide Fund for Nature and environmental organization in Europe view it as a notable first step, these efforts are unlikely to have a major impact on the most important problem – eel population continues declining rapidly, as noted by WWF.

LCCI: increase of electricity bills for thousands of companies in unacceptable

Latvian Chamber of Commerce and Industry (LCCI) categorically opposes increasing electricity bills for the majority of small and medium-sized companies due to mandatory procurement component’s differentiation. The organization believes that this would basically introduce a new additional tax, making them even less competitive.

Head of Latvian Association of Regions to spend Christmas thinking on remaining in the party

Dissatisfied with multiple decisions made by Latvian Association of Regions (LAR), Riga City Council member Mārtiņš Bondars will spend the holiday thinking about his place in this political party, as he mentioned in his interview to Rīta panorama or LTV.

Estonian fund permitted to purchase several Latvia energy production companies

Latvian Competition Council has permitted Estonian fund to purchase several energy production and agricultural companies.

Meat processing giant sees room for growth in ready-to-eat foods

Consumption in the meat market segment of ready-to-eat foods is growing quickly, evaluated Finnish meat processing group HKScan that is planning to invest eight million euros in its factory in Estonia.

To fight for national minority schools, Russian representatives promise to hold a referendum

Defenders of Russian schools in Latvia promise to organize a referendum for autonomy of national minority schools, said co-chairman of Latvian Russians Association Miroslavs Mitrofanovs in regards to the transition to education only in Latvian language.

Tax payment process from capital growth to change in Latvia

As part of the tax reform, changes will be added to the Personal Income Tax Law starting from 1 January 2018. One of the changes is associated with payment and declaration of income from capital growth. The tax rate and the term for submission of declarations on income from capital growth will change next year.

Tusk deems EU migrant quotas ineffective as some states oppose taking in migrants

Donald Tusk, the head of the Council of the European Union and chairman of this week's EU summit, has evaluated that mandatory EU-wide quotas are ineffective and that there is a split between east and west as regards asylum policy.

Riga City Council’s 2018 budget – poorly planned or well-developed?

As the vote for the 2018 budget of Riga City Council draws near, representatives of all opposition parties say they will not support it as long as politicians of the ruling coalition continue viewing the city’s most important financial document as good and aimed at development.

Euro area economy has grown quicker than expected, European Central Bank estimated

Growth has been at a faster pace in the eurozone prompting the European Central Bank to raise its economic growth forecasts.

Weekends in Latvia expected to be snowy

A layer of snow will form in Latvia’s central and western regions that will remain until the middle of next week, as reported by State Environment, Geology and Meteorology Centre.

Opinion: Latvia at risk of restricting healthcare to 300,000 people

Kustība Par! political party has sent a letter to Latvia’s President Raimonds Vējonis, asking him to return to the Saeima the recently approved law on healthcare funding legislative draft. According to the party, the law restricts healthcare for 300,000 people in Latvia.

Lithuania’s 2018 budget focuses on spending cuts, NATO commitment and social security

Lithuania's 2018 budget, approved this week by the Seimas, Lithuanian Parliament, makes history for being the first budget ever with fewer spending for the governmental sector, the commitment to NATO of earmarking 2 per cent of the gross domestic product to defence and bigger allotments for social security. The budget was adopted by 84 MPs, 29 voted against, with 15 abstentions.

EU member states have to strengthen measures against sexual abuse of children

Member states of the European Union have to take more serious measures and cooperate more intensely with Europol and information technology industry to better combat sexual abuse of children, as noted by members of the European Parliament.

Latvian parliament views initiative for changing VAT rate for food product

On Thursday, 14 December, Latvia’s Saeima made its decision on the collective application that proposes reducing VAT on everyday healthy food products and increasing VAT on unhealthy products.

Maxima: residents have become more conservative in their choice of products

In Q2 and Q3, a higher degree of conservatism was noticed in residents’ choice of products. The number of buyers who gladly purchase new products has declined, whereas the number of buyers who do not change anything in their purchasing habits has increased, according to results of a study performed by Maxima.

Civil processes to be sped up and simplified in Latvia

On Thursday, 14 December, Saeima supported amendments to the Civil Process Law in the final reading. Amendments propose several major changes to the process of review of civil processes to make court sessions quicker and more efficient.

State Auditor dissatisfied with parliament’s slow legislative process

Latvian State Auditor Elita Krūmiņa plans to inquire to the Saeima about the delay with the approval of the legislative draft on the expansion of authority of her institution, as she mentioned in an interview to Rīta panorama programme of LTV.

Aldaris commences exports to France, China and Netherlands

Aldaris concludes 2017 with three new export contracts, commencing exports of products to China, France and Netherlands. Until now Aldaris has exported products to eight markets, with the largest one being United Kingdom, taking up 78.71% from Aldaris export volume, as reported by the company.

Estonian budget passed with 0.25 billion-euro deficit

The Estonian Riigikogu with 55 votes against 41 has passed the country’s 2018 state budget bill planning to spend by 0.25 billion more than it is planned to earn.

AFSAL: loan requests in non-banking industry are declined in 69% of all cases

In the first six months of 2017 Alternative Financial Services Association of Latvia (AFSAL) issued a total amount of EUR 84.7 million in consumer loans. No increase is noted in this amount when compared with the same period of 2016. Increase did not exceed 0.2%, as reported by the association.

When do you go shoping for Christmas gifts?

View Results

Loading ... Loading ...

Polls Archive



Category feed: Feed: