bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Wednesday 17.10.2018 | Name days: Karīna, Gaits
LatviaLatvia

Inflation level in Latvia reaches 3.2%

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to September 2017, the average level of consumer prices rose by 3.2 % in September 2018. Prices of goods grew by 3.3 % and prices of services by 2.9 %. Compared to 2015, consumer prices were by 6.2 % higher in September 2018.

Prices of goods increased by 4.8 % and prices of services by 9.8 %.

Compared to September 2017, the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to transport, goods and services related to housing, alcoholic beverages and tobacco products, food and non-alcoholic beverages, as well as prices in miscellaneous goods and services group in September 2018, according to data from the Central Statistical Bureau of Latvia.

Within the group of food and non-alcoholic beverages, the greatest upward pressure on the price changes during the year was exerted by prices of fresh vegetables (up by 16.3 %). Increase was registered in prices of bread (of 6.0 %), eggs (9.1 %), fruit and vegetable juices (8.1 %), fresh and chilled fish (12.0 %), bakery products (2.3 %), dried, salted or smoked meat (0.9 %), and milk products (1.3 %). Reduction, in turn, was observed in prices of sugar (of 22.0 %), coffee (4.4 %), vegetable oil (8.8 %), and poultry (1.7 %).

The average level of prices of alcoholic beverages and tobacco products went up by 5.7 %. Prices of alcoholic beverages grew by 5.3 %, which was mainly due to the rise in prices of spirits, wine and beer. Prices of tobacco products rose on average by 6.3 %.

Prices of goods and services related to housing increased by 5.0 %. An upturn was registered in prices of solid fuels, heat energy, water supply, and natural gas, in maintenance charges in multi-occupied buildings and rentals for housing, as well as in prices of refuse collection, sewage collection. In its turn, the average level of electricity prices fell.

Within the group of goods and services related to transport, the main upward pressure was applied by prices of fuel (increase of 17.2 %). Prices of diesel grew by 20.6 %, of petrol by 14.6 %, and of auto gas by 4.8 %. Prices of maintenance and repair of personal transport equipment increased, whereas prices of passenger transport by air fell.

Within the group of miscellaneous goods and services, the average level of prices grew by 4.5 %, which was mostly influenced by the rise in prices of motor vehicle insurance. Increase was also recorded in prices of articles for personal hygiene and beauty products, prices in hairdressing salons and personal grooming establishment services, as well as prices of financial services.

Among other commodity groups, the most significant growth was recorded in prices of catering services, footwear, dental services, television subscription fee, prices of telecommunication services, as well as household cleaning and maintenance products. Prices of package holidays, in turn, dropped.

Compared to August, the average level of consumer prices increased by 0.6 % in September 2018. Prices of goods grew by 1.0 %, while prices of services fell by 0.3 %. The greatest pressure on the consumer price changes was put by the rise in prices of clothing and footwear, food and non-alcoholic beverages, prices in miscellaneous goods and services group, prices of education, restaurant and hotel services, as well as decline in prices of goods and services related to transport.

Over the month, prices of food and non-alcoholic beverages grew by 0.8 %. Prices of fresh vegetables (rise of 25.0 %) had the strongest upward influence on the average price level within the group. Increase was recorded in prices of fresh or chilled fish (of 11.3 %), dried, salted or smoked meat (1.0 %), bakery products (1.7 %), flours and other cereals (4.8 %), meat products (3.2 %), and bread (1.2 %). Reduction, in its turn, was registered in prices of fresh fruit (of 6.1 %), coffee (3.7 %), potatoes (11.5 %), and fruit and vegetable juices (4.7 %).

As goods of the new season entered the market, footwear prices went up by 16.3 %. The average level of garment prices increased by 3.1 %.

Prices of goods and services related to transport reduced by 0.1 %, which was mainly influenced by the decline in prices of passenger transport by air and passenger transport by sea. The average level of prices of fuels for transport grew by 1.6 %, of which prices of diesel went up by 1.8 % and of petrol by 1.5 %.

Along with the beginning of the new school year, prices of education services grew by 2.7 %. The rise in the average level of the education prices mainly was affected by the upturn in prices of higher education.

Within the group of restaurant and hotel services, prices grew by 0.5 %, which was mainly influenced by the increase in prices of catering services.

Within the miscellaneous goods and services group, the average level of prices went up by 1.8 %, which was because of the rise in prices of articles for personal hygiene and beauty products.

Among other commodity groups, the most notable increase was registered in prices of flowers, tobacco products, spirits, as well as household cleaning and maintenance products. Decline, in its turn, was observed in prices of package holidays, beer, rentals for housing, and pet food.


Leave a reply

Opinion: Attīstībai/Par! party would very much like to work with NCP

Attīstībai/Par! would very much like to work with New Conservative Party in the new government in Latvia given the opportunity, as journalists were told by AP co-chairman Daniels Pavļuts.

Number of cars registered in Latvia increases more quickly than average in Europe

In the first nine months of 2018, Latvia experienced a more rapid increase with the number of newly-registered light vehicles than the average in the European Union, according to the latest information from European Automobile Manufacturers' Association.

Seven Latvian companies listed among TOP 50 Baltic businesses

Among the 50 largest businesses in Baltics, seven hailed from Latvia in 2017. This is three businesses fewer than there were the previous year, as BNN was informed by representatives of Coface with reference to their list of the TOP 50 businesses in Baltic States.

1.7% less alcoholic beverages was produced in Latvia in first eight months of 2018

In the first eight months of 2018, 34.2 million litres of alcoholic beverages, except for beer, was produced in Latvia. 1.7% less alcoholic beverages was produced in Latvia when compared to the same period of 2017, according to data from the State Revenue Service.

Baltic states do slightly worse in Global Competitiveness Report

In the Global Competitiveness Report 2018 released by the World Economic Forum, Lithuania and Estonia have dropped by two positions, while all Baltic states remain among the top 45 most competitive economies in the world.

Latvian corruption prevention bureau undergoes reorganization; several experienced officials retire

Reorganization has been performed at Latvia’s Corruption Prevention and Combating Bureau. As a result of this reorganization, seven of the bureau’s officials have decided to resign. Six of them have decided to retire.

Russia starts trial against director Serebrennikov after long house arrest

In Moscow, the court proceedings against Russian theatre and cinema director Kirill Serebrennikov has begun on Wednesday, which is over a year after he was put under house arrest in a controversial embezzlement case.

Latvian Saeima wants to further enhance Anti-Money Laundering Service’s authority

On Tuesday, 16 October, members of Saeima’s Defence, Internal Affairs and Corruption Prevention Committee supported in the first reading amendments to the Law on the Prevention of Money Laundering and Terrorism Financing.

Canada enforces legalisation of marijuana, expects economic benefits

Canada is legalising marijuana for recreational use on Wednesday and economists forecast that the new manufacturing sector would bring many new jobs, investment and tax income.

Additional funding of EUR 232 million to be allocated for EU projects in 2018

Additional funding of EUR 232 million will be allocated for different European Union policy instruments and other kinds of foreign financial assistance projects before the end of 2018, as decided by Latvia’s Cabinet of Ministers on Tuesday, 16 October.

EU expects something creative from London for Brexit summit to deliver

The remaining European Union member states will expect in Brexit-focused summit that the UK would bring a creative solution to the issue of Irish border that has halted the talks.

Government formation process in Latvia remains clouded by unanswered questions

Political parties in the process of forming a new government in Latvia still have not reached an agreement on the future coalition and the person to take post as prime minister.

Lithuania and Ukraine to co-operate in Fintech

The central banks of Lithuania and Ukraine have committed to working together to promote the development of financial innovations and have signed a Co-operation Agreement in the Area of Innovation Development.

Tragic gas poisoning in family home investigated in Estonia

In Tallinn, the death of two children from gas poisoning is under investigation. The tragic accident in a semi-detached house in the Estonian capital has taken place on Saturday, October 13.

Progressive party proposes forming a government in Latvia with no oligarchs

Political party Progressive offers parties elected to the Saeima to put an end to oligarchs’ rule over Latvia’s politics and form a government that would help end the state capture tradition in the country.

Latvian president announces law on publication of KGB files

On Tuesday, 16 October, Latvian President Raimonds Vējonis announced the law on publication of Latvian KGB files, as confirmed by the entry in Latvian Herald.

Pupils in Ukraine learn to hide in case of bombardment

In the Donbas war, over 10,000 people have been killed since 2014, therefore war drills and bomb shelters have become part of daily life for hundreds of schools near the frontline.

NCP’s proposed government model receives the first rejection

The government model proposed by the New Conservative Party has received its first rejection. Additionally, there are other parties that believe it is necessary to agree on tasks before picking posts.

Orthodox Church of Russia breaks away from Ecumenical Patriarchate

The Orthodox Church of Russia has announced cutting contacts with the leading body of the Church, the Ecumenical Patriarchate in Istanbul, after its decision to allow the Ukrainian church to become independent from Moscow. The decision has not been recognised by Moscow.

Latvian president announces amendments allowing for open election of state president

Latvian President Raimonds Vējonis has announced amendments to the country’s constitution that allow for open election of the state president, as noted in the official statement published in Latvian Herald.

UGF includes active ministers in its group for government formation talks

The Union of Greens and Farmers has delegated Latvia’s Defence Minister Raimonds Bergmanis and Agriculture Minister Jānis Dūklavs to its group for government formation talks, as confirmed by the party’s board chairman Armands Krauze.

Latvian government supports 2019 budget project

On Monday, 15 October, Latvia’s Cabinet of Ministers supported Finance Ministry’s prepared 2019 budget plan project. State budget revenue in 2019 is planned at EUR 9.178 billion, which is EUR 217 million more when compared to 2018, whereas state budget expenditures are planned at EUR 9.205 billion, which is EUR 96 million more when compared to 2018.

EC Vice-President: growth of Latvia’s economy is delayed by banking sector’s problems

Development of Latvia’s economy is delayed by problems in the country’s banking and transit sectors, says European Commission’s Vice-President Valdis Dombrovskis.

Danske Bank's rating lowered over Estonia branch scandal

American ratings agency Moody's has lowered its long-term ratings for Denmark's larges lender, Danske Bank, embroiled in a scandal of possible money laundering in Estonia.

Residents’ debts before non-finance companies remain the highest in Latvia

The debts of Latvian residents before non-finance companies have doubled over the course of the past half-year, reaching 305,000 unpaid bills, according to data from the Credit Information Bureau.

Who would be the best choice for the next prime minister of Latvia?

View Results

Loading ... Loading ...

Polls Archive



Category feed: Feed: