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Tuesday 23.01.2018 | Name days: Strauta, Grieta

Prices of goods up 2.8% in Latvia; prices of services up 3.1%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared with January 2016, the average level of consumer prices increased by 2.9 % in January 207.  Prices of goods grew by 2.8 % and prices of services by 3.1 %.

Compared to January 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, alcoholic beverages and tobacco products, and prices in communication group, as well as by the decline in prices of clothing and footwear in January 2017, according to data of the Central Statistical Bureau of Latvia.

In January 2017 the average level of food and non-alcoholic beverage prices grew by 6.2 %. Increase was recorded in prices of fresh vegetables, cheese and curd, fruit, sugar, butter, sour cream, milk, bakery products, pork, kefir, dried, salted or smoked meat, fresh or chilled fish, yoghurt, sweets, chocolate, and meat products. Reduction, in turn, was observed in prices of potatoes.

Prices of tobacco products rose by 5.1 %. The average level of alcoholic beverage prices went up by 0.9 %, which was mainly affected by the rise in prices of spirits.

Over the year, prices of garments declined by 4.1 % and prices of footwear by 3.4 %.

Prices of goods and services related to transport grew by 5.6 %, which was mainly influenced by the increase in prices of fuels for transport (of 14.9 %). Reduction, in turn, was observed in prices of passenger transport by air and by road.

The average level of telecommunication service prices increased by 5.8 %, which was mainly because of the rise in prices of wired and wireless telephone services. Prices of Internet access services, in its turn, fell.

Within other commodity groups, the most significant growth was recorded in maintenance charges in multi-occupied buildings, as well as prices of pharmaceutical products, restaurant and café services, refuse collection, articles for personal hygiene and beauty products. Decline was observed in prices of heat energy and natural gas.

During the month, the average level of consumer prices increased by 0.1 %

Compared to December 2016, in January 2017 the average level of consumer prices increased by 0.1 %. Prices of goods went up by 0.4 %, and prices of services declined by 0.4 %.

The greatest pressure on the consumer price changes was put by the growth in prices of food and non-alcoholic beverages, prices in miscellaneous goods and services group, prices of goods and services related to transport, as well as by the decline in prices of clothing and footwear, goods and services related to recreation and culture.

During the month, prices of food and non-alcoholic beverages went up by 1.7 %. Prices of fresh vegetables had the most significant increasing impact on the price level within the food group. Rise was recorded in prices of cheese and curd, meat and meat products, fruit, butter, sour cream, milk, chocolate, eggs, sugar, coffee, and fresh or chilled fish. Decline, in turn, was observed in prices of fruit and vegetable juices, as well as yoghurt.

Due to the sales campaigns, prices of garments dropped by 10.6 % and prices of footwear by 6.5 %.

Within the transport group, the average level of prices rose by 0.6 %, which was mainly because of the increase in prices of fuels for transport (of 4.2 %). Reduction was observed in prices of passenger transport by air.

Within the recreation and culture group, during the month prices decreased by 1.0 %, which was mainly affected by the decline in prices of package holidays and pet food.

Within the miscellaneous goods and services group, the average level of prices grew by 2.5 %. Increase was observed in prices of articles for personal hygiene and beauty products, which were influenced by the end of sales campaigns.

Within other commodity groups, the most notable increase was recorded in prices of natural gas, household cleaning and maintenance products, refuse collection, as well as tobacco products. Reduction was recorded in prices of spirits.


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