bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Tuesday 20.08.2019 | Name days: Bernhards, Boriss
LatviaLatvia

June’s inflation in Latvia remains at 3%

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

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

Compared to June 2018, the average level of consumer prices rose by 3.0 %. Prices of goods had increased by 3.1 % and prices of services by 2.9 %.

In June 2019, consumer prices were 9.7 % higher than in 2015. Prices of goods had increased by 8.6 % and prices of services by 12.7 %.

Compared to June 2018, 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, as well as furnishings in June 2019, according to data compiled by Central Statistical Bureau of Latvia.

Within the group of food and non-alcoholic beverages, prices increased by 4.1 % over the year.

Prices of vegetables (rise of 17.6 %) had the strongest upward influence on the average price level within the group. During the year, rise was recorded in prices of bread (of 8.4 %), flours and other cereals (12.2 %), bakery products (2.6 %), and pasta products (8.9 %). Increase was also registered in prices of pork (of 12.0 %), meat preparations (7.9 %), sour cream (6.1 %), dried fruit and nuts (10.8 %), chocolate (4.0 %), and butter (6.1 %). Decline, in turn, was recorded in prices of coffee (of 7.2 %), fresh fruit (2.8 %), and poultry (1.1 %).

The average level of alcoholic beverage and tobacco product prices went up by 4.7 %. Prices of alcoholic beverages had increased by 4.5 %, which was mainly influenced by the rise in prices of beer and spirits. Prices of tobacco products grew on average by 5.3 %.

Over the year, prices of goods and services related to housing rose by 4.2 %.

Increase was registered in prices of electricity, natural gas, refuse collection, as well as in rentals for housing.

Prices within the furnishings group rose on average by 2.6 %. Over the year, rise was recorded in prices of household cleaning and maintenance products (of 7.6 %).

Within the recreation and culture group, the average level of prices went up by 3.0 %, which was mainly influenced by the rise in prices of television subscription fee, flowers, pet food, and package holidays.

The average level of restaurant and hotel service prices went up by 4.8 %. Prices of restaurant, café and fast food services had increased by 4.4 % and prices of canteen services by 5.9 %.

Rise in prices of articles for personal hygiene and beauty products, telecommunication services, maintenance and repair of personal transport equipment, fuels for transport (of 0.8 %) and dental services had the most notable upward influence on price level over the year. In its turn, the average level of motor vehicle insurance prices reduced.

Compared to May 2019, the average level of consumer prices rose by 0.3 % in June 2019.

Prices of goods increased by 0.1 % and had prices of services by 0.9 %. Rise in prices in miscellaneous goods and services group, prices of alcoholic beverages and tobacco products, goods and services related to recreation and culture, goods and services related to housing, furnishings as well as drop in prices of clothing and footwear exerted the greatest influence on price changes.

Over the month, average level of food and non-alcoholic beverage prices did not change. Rise was recorded in prices of potatoes (37.5 %), pork (3.5 %), dried, salted or smoked meat (1.2 %), poultry (1.9 %), and eggs (2.6 %). Decline, in turn, was registered in prices of fresh vegetables (8.2 %), coffee (2.9 %), bread (1.0 %), fruit and vegetable juices (3.8 %), as well as fresh or chilled fish (6.1 %).

The average level of alcoholic beverage and tobacco product prices went up by 1.3 %. Rise in prices of beer, spirits and wine resulted in growth of the average level of alcoholic beverage prices (of 2.3 %).

Due to the influence exerted by discounts, prices of footwear fell by 5.1 % and of garments by 0.6 %.

Prices of goods and services related to housing on average grew by 0.3 %. Increase was recorded in prices of materials for the maintenance and repair of the dwelling as well as rentals for housing.

Within the furnishings group, prices went up on average by 1.1 %, which was mainly due to the upturn in prices of household cleaning and maintenance products (of 4.5 %).

Price level within the group of recreation and culture had increased by 0.8 %. Prices of package holidays (rise of 15.7 %) had the strongest upward influence. In its turn, decline was recorded in the average level of fiction book prices.

Within the miscellaneous goods and services group, the average level of prices rose by 2.8 %, which, mainly influenced by the end of sales campaigns, resulted from a growth in prices of articles for personal hygiene and beauty products.

Passenger transport by air (up by 12.4 %), passenger transport by sea (24.6 %), and restaurant and café services (0.6 %) also had significant influence on the price rise during the month. In its turn, reduction was registered in the average level of prices of fuels for transport (of 1.6 %), of which prices of diesel fell by 2.1 % and of petrol by 0.9%.


Leave a reply to Justs

  1. Justs says:

    Vegetable prices up 18% in a year?! Consumer prices up 3% a MONTH?! Latvia is going through hyper inflation. Are wages rising 20% a year? We all know the answer. Are wages going up 3% a month?!

    Latvia is in trouble. You never should have adopted the Euro currency. It will be the end of you. Mass famine and starvation is all the European Union will bring you. Time to start planting potato fields again or watch your children starve to death while rich E.U. fat cats like Ezekiel Levitz laugh.

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

Independent Deputies Faction joins forces with Honour to Serve Riga

Riga City Council’s Independent Deputies Faction has signed a cooperation agreement with Honour to Serve Riga political party, pledging support for the party’s mayoral candidate Oļegs Burovs, as LETA was told by the faction’s leader Valērijs Petrovs on Monday, 18 August.

Saeima’s MPC investigation committee requests information on every issued license

The parliamentary committee formed to investigate the mandatory procurement component has requested access to information regarding every issued MPC license and decision made by officials in regards to this field, says the committee’s representative Ilze Vanaga.

Latvian athlete receives two-year disqualification

Former Latvian long jumper Ineta Radeviča has received a two-year disqualification, as confirmed by International Association of Athletics Federation’s Athletics Integrity Unit.

Minister: state budget funds will not be used to compensate PNB Bank’s clients

The Deposit Guarantee Fund is sufficient to pay compensations to affected PNB Bank clients. This means not a cent from Latvia’s state budget will be used, said Latvia’s Finance Minister Jānis Reirs in a telephone conversation with public broadcaster LTV programme Rīta Panorāma on Friday, 16 August.

Estonia to invest 22 million in construction of a new TV house

Estonian government has set aside EUR 22 million for the construction of a new public television building, as reported by Estonian public media ERR.

Another one falls – Latvian FCMC halts PNB Bank’s operations

Operations of PNB Bank [formerly Norvik Banka] have been halted in Latvia, as confirmed by Finance and Capital Market Commission.

Unemployment index in Latvia drops – rate down to 6.4% in Q2

In Q2 2019 Latvian unemployment rate constituted 6.4 %. Compared to the previous quarter, unemployment rate fell by 0.5 percentage points, and compared to the rate recorded a year ago, it dropped by 1.3 percentage points.

64.7% of Latvia’s population reportedly employed in Q2 2019

905.6 thousand people or 64.7 % of Latvia’s population aged 15–74 were employed in Q2 2019.