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Monday 16.07.2018 | Name days: Hermīne, Estere
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Annual inflation in Latvia – 4.2%

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

Compared to February 2011, the average consumer price level in March 2011 rose by 0.7%. Prices of goods increased by 0.9% and of services – by 0.1%. Compared to February 2010, the average consumer price level in March 2011 spiked 0.5%

The increase in prices of services and goods related to transport, clothing, footwear and food, as well as the drop in prices of goods related to housing maintenance, had the largest impact on the consumer price changes in March, according to the Central Statistical Bureau data.

In the transport group, prices on average grew by 2.3%. The increase was mainly determined by the fuel price climb by 4.7%. The price increase was also recorded for vehicle spare parts, passenger cars, bicycles, parking and passenger transport services.

In March, clothing and footwear prices surged by 6.0%, of which the prices of clothing – by 3.3%, but of footwear – by 12.6%. The gains occurred due to the end of winter season sales and price rises for the new summer season clothing and footwear.

The average price level for food rose by 0.4%. It was mainly driven by the end of campaign sales for milk, cheese and eggs (+1.5%), sugar and confectionery (+1.3%), non-alcoholic beverages (+0.6%) and fish products (+2.4%). Vegetable prices spiked on average by 2.5%. Due to sales campaigns, a price decrease was observed for bakery products (-2.4%), oils and fats (-1.6%), and fresh fish (-1.0%).

Prices of goods and services related to housing maintenance fell by 0.3% due to the drop in heat energy tariffs on average by 1.3%. The prices of services related to housing maintenance and repair also reported a drop (-3.1%), while solid fuel prices rose by 1.2%.

Due to the end of sales campaigns, price increase was observed for personal care, cleaning and maintenance products.

On the other hand, TV, video, audio, photo, data processing equipment and specialist services became cheaper due to sales campaigns. The price decline was also registered in mobile services.

Compared to March 2010, consumer prices increased by 4.2%. The average price level for goods went up by 5.9%, but for services – decreased by 0.2%.

Over the last 12 months, the average consumer price level increased by 0.8%, compared to the previous twelve-month period.

During the first three months of 2011, the consumer prices grew by 2.3%. In the corresponding period last year, the price growth accounted for 0.6%.


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