bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Wednesday 21.08.2019 | Name days: Linda, Janīna
LatviaLatvia

July’s inflation in Latvia reported at 2.9%

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

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

Compared to July 2018, the average level of consumer prices rose by 2.9 % in July 2019. Prices of goods have increased by 2.9 % and prices of services by 2.8 %.

Compared to 2015, consumer prices have risen by 8.7 %.

Prices of goods have increased by 7.0 % and prices of services by 13.0 % in July 2019.

Compared to July 2018, in July 2019 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages, alcoholic beverages and tobacco products, goods and services related to housing, goods and services related to recreation and culture, as well as restaurant and hotel services, according to data from the Central Statistical Bureau of Latvia.

Over the year, prices within the group of food and non-alcoholic beverages increased by 4.2 %. Prices of vegetables (rise of 16.8 %) had the strongest upward influence on the average price level within the group. During the year, increase was recorded also in prices of bread (of 9.7 %), flours and other cereals (14.5 %), bakery products (3.5 %), and pasta products (5.8 %).

An upturn was registered in prices of pork (of 11.2 %), dried, salted or smoked meat (3.1 %), meat products (9.1 %), eggs (5.8 %), chocolate (5.4 %), yoghurt (4.7 %), milk products (1.6 %), as well as fruit and vegetable juices (4.4 %). Decline, in turn, was recorded in prices of coffee (of 4.7 %), poultry (2.0 %), as well as cheese and curd (1.9 %).

The average level of alcoholic beverage and tobacco product prices went up by 5.6 %.

Prices of alcoholic beverages have increased by 5.7 %, which was mainly influenced by the rise in prices of beer and spirits. Prices of tobacco products grew on average by 5.6 %.

Over the year, prices of goods and services related to housing rose by 2.7 %. Upturn was registered in prices of electricity, refuse collection, rentals for housing, solid fuels, as well as materials for the maintenance and repair of the dwelling. Decline, in turn, was observed in natural gas prices (of 9.4 %).

Within the recreation and culture group, the average level of prices went up by 3.1 %, which was mainly influenced by the rise in prices of pet food, television subscription fee, and flowers.

The average level of restaurant and hotel service prices went up by 4.8 %. Prices of catering services grew by 4.7%, while hotel service prices went up by 7.6 %.

Rise in prices of articles for household cleaning and maintenance products, garments, footwear, telecommunication services, maintenance and repair of personal transport equipment, articles for personal hygiene and beauty products, dental services, prices of services in medical specialist practice, as well as prices of pharmaceutical products had significant upward influence on the price level over the year. In its turn, the average level of prices of fuels for transport and motor vehicle insurance reduced.

Compared to June 2019, the average level of consumer prices have decreased by 1.0 % in July 2019. Prices of goods fell by 1.5 %, while prices of services rose by 0.3 %. Decline in prices of clothing and footwear, food and non-alcoholic beverages, goods and services related to housing, goods and services related to transport, prices in miscellaneous goods and services group, as well as rise in prices of goods and services related to recreation and culture, alcoholic beverages and tobacco products exerted the greatest influence on price changes.

Over the month, prices of food and non-alcoholic beverages dropped by 1.1 %. Seasonal decline (of 9.4 %) in vegetable prices had the strongest lowering influence on the average price level within the group. Reduction was registered in prices of cheese and curd (of 4.9 %), coffee (1.3 %), dried fruit and nuts (4.0 %), pork (0.9 %), and soft drinks (3.9 %). Increase, in turn, was recorded in prices of dried, salted or smoked meat (of 1.3 %), fresh fruit (2.5 %) and pasta products (3.3 %).

The average level of alcoholic beverage and tobacco product prices went up by 0.4 %. Increase was observed in prices of wine and spirits, while beer prices went down. Prices of tobacco products increased on average by 0.5 %.

Due to the discounts, prices of footwear fell by 9.7 % and of garments by 8.3 %.

Prices of goods and services related to housing dropped on average by 1.0 %, which was mainly influenced by lower natural gas tariffs as of 1 July. Upturn was observed in rentals for housing.

Within the group of goods and services related to transport, the strongest downward influence was exerted by prices of fuel (of 2.2 %), of which prices of diesel fell by 2.6 %, of petrol by 1.9 %, and of auto gas by 0.3 %. Decline was also registered in prices of passenger transport by air (of 1.5 %).

Price level within the group of recreation and culture increased by 0.5 %. Prices of package holidays (rise of 3.1 %) had the greatest influence on the price rise. Increase was registered in prices of pet food. Decline, in turn, was observed in flower prices.

Within the miscellaneous goods and services group, the average level of prices fell by 1.0 %, which, mainly influenced by the end of sales campaigns, resulted from the decline in prices of articles for personal hygiene and beauty products.


Leave a reply

Subsidies to controversial Riga transport company could increase by EUR 20 mln

Amid the criticism of the Riga municipal transport company Rīgas satiksme for its losses and their effect on the Latvian state budget, a plan has been voiced to increase its subsidies, now 120 million euros, by another 20 million euros, Latvian Radio reports.

Latvian Minister keeping adviser detained by corruption watchdog for now

Latvian Agriculture Minister Kaspars Gerhards will clarify the reason, why his advisor and the mayor of the city of Ogre, Egils Helmanis, has been detained by corruption investigators, to decide on keeping him in office.

Trump, Macron willing to readmit Russia to G7, despite Crimea annexation

The leaders of France and the United States have expressed their backing to readmitting Russia to the G7 conference of world powers in 2020, despite Ukraine’s Crimea still being held by Moscow, CNN reports.

Latvian excise tax income up by 8% in first half of 2018

The Latvian excise tax income in the first half of 2019 has been 521 million euros, –an increase by 39 million euros, or 8.1% – compared to the respective period last year, showed data by the Latvian State Revenue Service.

Latvian PM: Most of freely available 2020 budget funds already earmarked

Discussing the 2020 Latvian national budget, Latvian prime minister Krišjānis Kariņš pointed out that its fiscal space is limited by previous decisions and that the expected losses of the Riga transport company will not permit raising wages and pensions nationally.

Corruption watchdog detains Ogre city mayor Helmanis

The Latvian Corruption Prevention and Combating Bureau has on Wednesday detained the mayor of central Latvian city of Ogre, Egils Helmanis, according to LETA news agency.

New members to Freeport of Riga Authority elected, despite criticism

The Riga City Council elected to the Board of the Freeport of Riga Authority, mayor Oļegs Burovs and councilman Sandris Bergmanis, despite heavy criticism of the latter for incompetence and lack of vision.

Italy loses government, coalition of right-wing, anti-establishment parties collapses

Italy has lost its government with Prime Minister Giuseppe Conte announcing resignation after the right-wing League party pushed for no-confidence motion to its own government.

Kaljulaid opposed to Estonian minister after police chief scandal

Alleging that Estonian Interior Minister Mart Helme has violated the law by trying to sack top police chief, Estonian President Kersti Kaljulaid has stated that the minister has no place in the government.

Planned Latvian economic cases’ court conceptually backed by government

The plan by the Latvian Ministry of Justice to establish a court of economic cases has on Tuesday, August 20, been supported by the Latvian Cabinet of Ministers.

Riga deputy mayor posts go to Harmony and independent politician

In the Riga City Council, deputy mayors have been elected with one post going to Anna Vladova from Harmony and the other – to Vadims Baraņņiks from the group of independent councilmen.

Latvia charges energy company executives for attempted fraud

Two board members of Latvian power company SIA Rīgas enerģija have been charged in a criminal case for an attempt to acquire with deceit the rights to supply electricity as part of the mandatory procurement component programme.

Consumer protection: 34% of Latvians admit post-vacation financial difficulties

During vacation, 77% of Latvians spend more money than planned, but 34% admit having trouble making ends meet after vacation, according to a poll by the Latvian Consumer Protection Centre.

Firms like Riga transport company to be banned from working with losses, minister says

As the European Union’s statisticians have classified the Riga municipal transport company Rīgas satiksme in the debt of the national budget, it is planned in Latvia to prohibit such companies from working with losses, Latvian Finance Minister Jānis Reirs has told LNT 900 sekundes programme.

Minor dies in large fire in Latvia

An underage person has been found dead in a large fire in the Latvian region of Vidzeme, the Latvian Fire and Rescue Service has said. Person wascsaved from burning house in Liepāja.

UK aims to end free entry of EU citizens on October 31

UK to stop free migration from European Union member states to the country right after the likely no-deal Brexit on October 31, the British government has stated.

Riga city elects new mayor – Oļegs Burovs – and restores decade-old coalition

The Riga City Council has elected Oļegs Burovs as the new mayor, ending two months of political discussions and restoring the coalition that has ruled in the Latvian capital for ten years.

EU: Rīgas satiksme cuts Latvian budget fiscal room in 2020 by 72 mln EUR

The Riga city company Rīgas satiksme should, according to European Union criteria, be in included in the general government sector, thus it would cut the fiscal space of the 2020 Latvian state budget by 72 million euros, Finance Ministry stated.

Latvijas Krājbanka’s administrator recovered 542 thousand euros in July

The administrator of the insolvent Latvian bank Latvijas Krājbanka recovered 524 444 euros in July, which is by 75% more than a month earlier, according to the official gazette Latvijas Vēstnesis.

Latvian post-reform administrative centres to have 2 000 - 630 000 populations

After the planned administrative reform of Latvia, the population size of the administrative centres of the new municipalities is expected to vary from 2 000 to 632 000 people, according to a conceptual report by the Ministry of Environmental Protection and Regional Development.

A week of warm, but changing weather forecast for Latvia

Weather in Latvia this week is expected to be summer-like and warm, with rain expected on Thursday and Friday, according to the Latvian Environment, Geology and Meteorology Centre.

Kabul wedding terror attack committed by Islamic State, the group says

Responsibility for the terror attack in Afghanistan, where explosives killed 63 people. has been claimed by the Afghan branch of the Islamic State terrorist group.

British Gibraltar releases seized Iran oil tanker

An Iranian oil tanker detained by Gibraltar, part of the United Kingdom, has sailed away from port after being allowed to do so despite Washington’s call to detain it again.

BNN summary of the week: Latvia’s biggest budget; PNB Bank halts operations; Latvia sad with Latvia

Some positive news surfaced in Latvia this week – Prime Minister Krišjānis Kariņš announced that the country’s next budget will be the largest one yet and will exceed EUR 10 billion. In spite of this, however, financial difficulties have been observed – PNB Bank has ended up in a tight spot. The bank’s shortage of funds has forced Finance and Capital Market Commission to halt all of the bank’s financial operations.

Week in Lithuania: PM Skvernelis undergoes surgery, Nausėda meets Merkel, rebukes Latvia

Last week, President Gitanas Nausėda rejected the government’s candidate for EU judge, hints of big changes at Šiaulių Bankas ahead

Newest comments