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Tuesday 20.08.2019 | Name days: Bernhards, Boriss

June’s inflation in Latvia remains at 3%

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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.

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