bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 15.11.2019 | Name days: Undīne, Leopolds, Unda
LatviaLatvia

Inflation in Latvia estimated at 2.3% in October

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

CSP, Latvia, prices, inflation,Compared to October 2018, the average level of consumer prices rose by 2.3 % in October 2019. Prices of goods had increased by 1.9 % and prices of services by 3.0 %.

Compared to 2015, consumer prices were 9.3 % higher in October 2019. Prices of goods had increased by 8.0 % and prices of services by 12.8 %, according to data from the Central Statistical Bureau of Latvia.

Compared to October 2018, in October 2019 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages, goods and services related to housing, alcoholic beverages and tobacco products, goods and services related to recreation and culture, restaurant and hotel services, health care, as well as decline in prices of goods and services related to transport.

Over the year, prices within the group of food and non-alcoholic beverages increased by 2.6 %. Prices of bread (rise of 9.6 %), bakery products (5.2 %), as well as flours and other cereals (7.2 %) had the strongest upward influence on the average price level within the group. Rise was recorded in prices of pork (of 10.4 %), dried, salted or smoked meat (4.7 %), poultry (2.7 %), and meat products (5.3 %). Upturn was registered also in prices of fresh fruit (of 3.7 %), potatoes (10.6 %), chocolate (4.6 %), and sugar (7.1 %). Decline, in turn, was recorded in prices of milk (of 7.2 %), milk products (3.3 %), cheese and curd (1.7 %), and coffee (2.1 %).

The average level of alcoholic beverage and tobacco product prices went up by 4.6 %. Prices of alcoholic beverages had increased by 4.5 %, which was mainly influenced by the change in beer prices. Tobacco product prices grew on average by 4.6 %.

Over the year, prices of goods and services related to housing rose by 3.6 %. Increase was registered in prices of electricity, heat energy, refuse collection, materials for the maintenance and repair of the dwelling, rentals for housing, services for the maintenance and repair of the dwelling, as well as maintenance charges in multi-occupied buildings. Reduction, in turn, was observed in natural gas and solid fuel prices.

Within the health care group, the average level of prices rose by 2.2 %, which was mostly influenced by the increase in prices of dental services, prices in medical specialist practice, as well as prices of pharmaceutical products.

Within the group of goods and services related to transport, the strongest downward influence was exerted by prices of fuel (of 4.4 %), of which prices of diesel fell by 4.7 %, of petrol by 4.6 %, and of auto gas by 1.1 %. Reduction was also observed in prices of second-hand motor cars. The average level of prices of passenger transport by air as well as maintenance and repair of personal transport equipment went up.

Prices of goods and services related to recreation and culture grew by 3.1 %. Upturn was registered in prices of package holidays and television subscription fee.

Prices of restaurant and hotel services grew on average by 3.5 %, which was mainly influenced by the 3.9 % rise in restaurant and café service prices. Prices of canteen services went up by 3.9 %.

Upturn in prices of telecommunication services, garments, articles for personal hygiene and beauty products, as well as household cleaning and maintenance products had significant influence on the price rise over the year as well. The average level of motor vehicle insurance prices, in turn, reduced.

Compared to September 2019, the average level of consumer prices rose by 0.4 % in October 2019. Prices of goods grew by 0.7 %, while prices of services fell by 0.3 %. Rise in prices of food and non-alcoholic beverages, clothing and footwear, furnishings, goods and services related to housing, as well as drop of prices in miscellaneous goods and services group and in prices of goods and services related to recreation and culture had the strongest influence on the price changes within the group.

Over the month, prices of food and non-alcoholic beverages grew by 1.0 %. Prices of fresh vegetables and fresh fruit (rise of 13.5 % and 7.2 %, respectively) had the strongest upward influence on the average price level within the group.

Rise was also observed in prices of poultry (of 1.9 %), cheese and curd (1.2 %), butter (3.5 %), dried, salted or smoked meat (0.6 %), bakery products (0.8 %), and bread (0.6 %). Decline, in turn, was registered in prices of potatoes (of 6.7 %), chocolate (2.9 %), milk (2.2 %), fruit and vegetable juices (2.4 %), and milk products (0.9 %).

As goods of the winter season kept entering the market, garment prices went up by 4.7 % and footwear prices by 0.5 %.

Prices of goods and services related to housing increased by 0.2 %. Rise was recorded also in prices of heat energy and materials for the maintenance and repair of the dwelling.

Within the furnishings group, prices went up on average by 1.2 %, which was caused by the upturn in prices of household cleaning and maintenance products affected by the end of sales campaigns.

Prices of goods and services related to recreation and culture fell by 0.6 %. Decline was recorded in prices of package holidays (of 9.6 %), moreover unlike in previous year when the steepest drop was registered in September, this year the sharpest reduction was observed in October.

Within the miscellaneous goods and services group, prices reduced on average by 1.3 %, which was caused by the downturn in prices of articles for personal hygiene and beauty products as well as motor vehicle insurance.

The most significant growth among other commodity groups was recorded in prices of spare parts and accessories for personal transport equipment as well as tobacco products. Decline, in turn, was recorded in prices of spirits and hotel services.


Leave a reply

Lithuania set to expand residential real estate tax payers’ base

With the economy prospects for the new year looking bleaker, the Lithuanian government is scrambling to find new ways to prevent a looming drought of state coffers. The Lithuanian legislature, Seimas, has revisited this week the idea of taxing polluting cars, real estate and bank assets.

Estonian skiing ex-coach convicted of doping facilitation

A court in Estonia has found Mati Alaver, a former national skiing coach, guilty of doping facilitation and convicted him to probation.

Tourist upturn in Latvian accommodations reaches 2.27 million in 2019

1.03 million foreign and Latvian visitors stayed at Latvian tourist accommodation establishments Q3 2019, which is 0.5 % more than Q3 2018. Compared to corresponding period of the previous year, the number of nights spent by visitors increased by 1.5 %.

Central Election Commission permits signature collection for Seaima’s dismissal

On Thursday, 14 November, Latvia’s Central Election Commission registered a signature collection process initiated by Varu Latijas Tautai and Centre Party for the dismissal of the 13th Saeima.

Corruption watchdog once again punishes VID officials for illegal information acquisition

Corruption Prevention and Combating Bureau has once again punished officials of the State Revenue Service who were caught illegally acquiring information from systems.

Saeima decides: unemployment benefit to be paid for eight, not nine months

From 2020 onward unemployment status will be provided and benefits paid for eight months instead of nine, BNN was told by Saeima’s press-service.

Lithuania pushes for NATO ally involvement in EU defence projects

Lithuanian National Defence Minister Raimundas Karoblis has emphasised that European Union’s defence projects should be open to NATO allies from outside the EU to join in.

Healthcare trade unions to decide on future protests in Latvia

Latvian Trade Union of Health and Social Care Workers council plans to decide on future protests on Tuesday, 19 November, as confirmed by the trade union.

Estonia registers lowest unemployment in century

The unemployment rate in the century-long history of Estonia has dropped in third quarter of the year to a record low of 3.9%, the country’s official statistics show.

Minister: suspicious interest for Latvia’s military objects considered medium-high

The level of suspicious interest of foreign people for Latvia’s military objects using different research methods, including drones, is considered medium-high, says Latvia’s Defence Minister Artis Pabriks.

Tusk encourages pro-EU Britons not to give up

The United Kingdom is in a month’s time holding its early parliamentary election. The outgoing chairman of the EU’s European Council, Donald Tusk has said indirectly that the country’s divorce from the bloc can still be reversed.

Contraband cigarettes found stashed in cars with forged diplomatic registration plates

State Revenue Service Tax and Customs Police found a large number of contraband cigarettes in vehicles bearing forged diplomatic registration plates, VID reports.

Supreme Court keeps ban on new construction contracts for JRT in force

On Wednesday, 13 November, Latvia’s Supreme Court of Justice decided to reject the protest submitted by the Office of the Prosecutor General in regards to the ruling on approving construction company ReRe Būve 1 plea against State Real Estate, in which the company managed to secure a prohibition for VNI to sign new construction contracts with third party companies on work associated with New Riga Theatre.

Israel and Gaza start truce after two days of deadly violence

In the Middle East, after two days of military attacks between Israel and Palestinian militants that has left 32 people dead, a ceasefire has come into force, according to Egyptian, UN and militant representatives.

Saeima spends 14 hours debating on legislative drafts for next year’s budget

On the first day of Saeima’s debates about the state budget for 2020 and accompanying legislative drafts deputies spent 14 hours discussing a small number of drafts. In the end, the decision was made to take a break and return to decision-making on Thursday, 14 November.

Municipalities to receive 5% instead of 25% from gambling tax revenue

On Wednesday, 13 November, Latvia’s Saeima approved amendments in the final reading to the Law on Lotteries and Gambling Fee and Tax. Amendments include a new proportion for the division of the aforementioned tax between the state and municipal budgets.

Video: Venice affected by highest flood waters since 1966

In Italy’s picturesque Venice, the water level has risen by 1.87 metres. Two people have died during the floods.

OECD: Lithuanians, among rich nations, having highest alcohol consumption

Alcohol consumption in Lithuania is the highest compared to other 43 countries in the world, found the Organisation for Economic Co-operation and Development, also referred to as the «rich-nations club».

Minimal pensions to increase in Latvia next year

On Wednesday, 13 November, Latvia’s Saeima approved in the final reading amendments to the State Pensions Law. These amendments provide for increasing minimal retirement pension amounts in 2020.

Environment Ministry refuses to approve new waste management regulations in Riga

Latvia’s Environment Protection and Regional Development Ministry has decided not to approve Riga City Council’s binding rules on waste management in the capital city, as confirmed by Riga City Council Housing and Environment Department’s Office for Environment head Evija Piņķe.

Harmony wants Honour to Serve Riga to cease working with independent deputies

Harmony political party may agree to continue working in the coalition of Riga City Council under the condition Honour to Serve Riga terminates cooperation with the Independent Deputies Faction, said vice-chairperson of Riga City Council Anna Vladova after meeting with Harmony’s faction on Wednesday, 13 November.

No legalisation. Estonia rejects calls for taking cannabis market in state’s hands

Over 1 000 activists in Estonia have signed a proposal for the state to tax and enforce its control over the illegal market of cannabis, by legalising it. Yet, legislators have not welcomed the idea citing health damage from the substance.

Elenger starts supplying Latvia with natural gas from Klaipeda terminal

Estonian Eesti Gaas subsidiary SIA EG Energija, which operates under Elenger brand, has commenced supplying Latvia with gas from Klaipeda floating gas terminal, as reported by Elenger Latvija board member Dāvis Skulte.

Harmony’s head promises constant control over party’s Riga City Council faction

The chairman of Harmony political party, Saeima deputy Jānis Urbanovičs promises to constantly control the party’s faction in Riga City Council. He wants certainty over the party’s ability to work.

Estonian minister’s actions to be investigated, says PM Ratas

Estonian ruling coalition has agreed that its Minister of Rural Affairs has to be investigated, Prime Minister Jüri Ratas has stated. The current situation is over alleged links to a conflict of interest involving farming subsidies,