Analytics, Inflation, Latvia, Statistics
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 15:31
The average level of consumer prices did not change in Latvia during the year
Compared to August 2015, in August 2016
the greatest pressure on the average level of consumer prices was applied by
the increase in prices in recreation and culture, prices of alcoholic beverages
and tobacco, health care, prices in communication group, and prices of food and
non-alcoholic beverages, as well as by the drop in prices of goods and services
related to transport, goods and services related to housing, and clothing and
footwear.
Commodity group impact on Consumer Price Index during the year
(percentage points)
Compared to the corresponding month of
the previous year, in August 2016 the average level of food and non-alcoholic beverage
prices increased by 0.5%. Increase was recorded in prices of sugar, fresh
vegetables, pork, dried, salted or smoked meat, as well as fish. Whereas
reduction was observed in prices of poultry, fresh fruit, milk, cheese and
curd, eggs and butter.
Prices of tobacco products rose by 4.8%.
The average level of alcoholic beverage prices grew by 0.8%, which was mainly
affected by the increase in prices of spirits and wine, whereas prices of beer
reduced.
During the year, the average level of
footwear and garment prices dropped by 4.4% and 1.7%, respectively.
Prices of goods and services related to
housing decreased by 1.7%. Reduction was recorded in prices of heat energy,
natural gas, electricity, and rentals for housing, while increase was observed
in maintenance charges in multi-occupied buildings, prices of refuse
collection, services for the maintenance and repair of the dwelling, sewage
collection, and water supply.
The average level of health care prices
rose by 2.6%, which was mainly due to the increase in prices of pharmaceutical
products and dental services.
Within the transport group, prices
declined on average by 3.7%, which was influenced by the 10.2% drop in prices
of fuels for transport. Growth was recorded in prices of maintenance and repair
of personal transport equipment and second-hand motor cars.
During the year, the level of prices
within the communication group grew on average by 3.6%, which was mainly due to
the rise in prices of wired and wireless telephone services. A drop was
observed in prices of Internet access services.
Prices of package holidays rose by 9.7%.
Increase was observed also in prices of cultural services, fiction books,
garden products and flowers.
Among other consumption groups, the most
significant increase was recorded in prices of restaurant, café and fast food
services. Reduction, in turn, was recorded in prices of household cleaning and
maintenance products.
During the month, the
average level of consumer prices decreased by 0.7%
Compared to July 2016, in August 2016 the average
level of consumer prices reduced by 0.7%. Prices of goods decreased by 1.0%,
while prices of services rose by 0.2%.
In August, the greatest pressure on the price changes
was put by the drop in prices of food and non-alcoholic beverages, goods and
services related to transport, clothing and footwear, and prices in
miscellaneous goods and services group, as well as by the increase in prices of
recreation and culture.
During the month, prices of food and non-alcoholic
beverages fell by 1.7%. Within the food group, the drop in prices of fresh
vegetables, mainly sweet pepper, tomatoes, cabbages, cucumbers and carrots, had
the most notable downward influence on the price changes. Reduction was
recorded also in prices of potatoes, fresh fruit, and eggs. Increase, in turn,
was observed in prices of poultry, fruit and vegetable juices, pork, fresh or
chilled fish.
Along with the summer season discounts and sales,
prices of footwear dropped by 5.3% and prices of garments fell by 0.8%.
Within the transport group, the average level of
prices declined by 1.4%, which was mainly affected by the 3.5% drop in prices
of maintenance and repair of personal transport equipment.
Within the culture group, the average level of prices
rose by 0.6%, which was mainly due to the 5.1% growth in prices of package
holidays.
Due to the sales prices of articles for personal
hygiene and beauty products dropped by 3.8%.
Among other consumption groups, the most significant
decline was recorded in prices of household cleaning and maintenance products,
while the most notable rise was observed in prices of spirits, heat energy, as
well as restaurant and café services.