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Wednesday 18.07.2018 | Name days: Rozālija, Roze

Annual inflation in Latvia reaches 0.9%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to November 2013, the average consumer price level in November 2014 rose by 0.9%.

Prices of goods did not change, while prices of services grew by 3.1%. Compared to the previous twelve months, the average consumer price level has increased by 0.6%, according to data compiled by the Central Statistical Bureau of Latvia.

Compared to November 2013, the greatest pressure on the price changes in November 2014 was put by the rise in prices of alcoholic beverages and tobacco, hotel and restaurant services, services and goods related to housing, as well as by a drop in the prices of transport goods and services.

The average food price level in November 2014, as compared to the corresponding month of the previous year, has increased by 0.1%. Growth was observed in the prices of tea and coffee, vegetables, bread and cereals, confectionery and honey, as well as fruit. Lower prices than in the previous year were recorded for milk and dairy products, meat and meat products, sugar, oils and fats, potatoes.

Prices of tobacco rose by 9.3%. Average price level of alcoholic beverages has increased by 1.8% which was affected by price rise on beer and spirits. On the contrary wine became cheaper.

During the year prices of goods and services related to housing increased by 1.1%. It was due to the price growth for maintenance charges in multi-occupied buildings, water supply, sewage collection, maintenance and repair of the dwelling, actual rentals for housing, solid fuel.

In the transport group prices have declined by 2.2%, which is significantly affected by price drop of fuels for transport of 5.2%. A decrease was also recorded in the prices of spare parts and accessories for transport vehicles. Growth was observed in the prices of maintenance and repair of personal transport equipment and of passenger transport by sea.

Compared to November 2013, prices of hotel and restaurant services increased by 4.5%. Prices in cafés and restaurants have increased by 4.8%, in canteens – by 4.4%; and for accommodation services ­– by 2.8%.

Among other commodity groups most significant growth was recorded in prices of cultural services, clothing, individual care goods and dental services.

Compared to the previous month, consumer prices in November 2014 have decreased by 0.3%. Prices for goods have decreased by 0.3%, while prices for services – by 0.1%.

The greatest pressure on the consumer prices during the month was put by drop in the prices of transport goods and services, alcoholic beverages and tobacco, goods and services related to housing, clothing and footwear, as well as by growth in the prices of food and individual care goods and services.

Prices of food have increased by 0.5%, which was significantly affected by the end of discounts for milk and dairy products (+2.2%). Due to seasonal factors, vegetables (+4.1%) and fruit (+2.9%) became more expensive. Prices of sugar, confectionery and honey, oils and fats, eggs, bread and cereals, as well as of fish and fish products increased. Prices decreased for meat and meat products, cheese.

Compared to October, prices of alcoholic beverages decreased by 1.4%, which was affected by discounts for wine and spirits. Prices of beer rose by 0.7%, of tobacco –by 0.3%.

The prices for footwear dropped by 1.8% and for clothing – by 0.2%.

Prices of heat energy, as compared to October, have reduced by 0.4%. Refuse collection, actual rentals for housing became cheaper, but prices of maintenance and repair of the dwelling increased.

In transport group prices have declined by 1.9%, which was affected by price drop of 3.8% for fuels for transport. Passenger transport by sea became cheaper.

Influenced by the end of the sales campaigns, individual care goods became more expensive.

Among other commodity groups drop was recorded in prices of package holidays and household textiles. But prices went up for cultural services.


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