Analytics, Economics, Inflation, Latvia, Retail, Statistics

Compared to September 2015, in September 2016 the average level of consumer prices was mainly influenced by an increase in the prices of food and non-alcoholic beverages, prices of recreation and culture, health care, alcoholic beverages and tobacco, and prices in the communication group, as well as by a drop in the prices of goods and services related to transport, goods and services related to housing, and prices of clothing and footwear.

Compared to the corresponding month of the previous year, in September 2016 the average level of food and non-alcoholic beverage prices grew by 1.9%. An increase was recorded in the prices of poultry, dried, salted or smoked meat, vegetables, sugar, bread, milk products, bakery products, pork, salt and spices, fresh or chilled fish, and eggs. In turn, a drop was observed in the prices of cheese and curd, milk, and fresh fruit.

Prices of tobacco products rose by 5.3%. The average level of alcoholic beverage prices decreased by 1.1%, which was mainly due to a drop in the prices of beer, whereas the prices of wine and spirits increased.

During the year, the average level of footwear and garment prices dropped by 4.7% and 0.5%, respectively.

Prices of goods and services related to housing decreased by 1.2%. Heat energy and natural gas became cheaper, while an increase was recorded in maintenance charges in multi-occupied buildings, prices of refuse collection, sewage collection, services for the maintenance and repair of the dwelling, and water supply.

The average level of health care prices rose by 2.7%, which was mainly due to an increase in the prices of pharmaceutical products, dental services, and medical specialist practice.

The level of prices within the transport group declined by 2.0% on average, which was mainly due to a drop of 5.2% in the prices of fuels for transport. Passenger transport by air also became cheaper, whereas an increase was recorded in the prices of second-hand motor cars, as well as maintenance and repair of personal transport equipment.

During the year, the level of prices within the communication group rose by 2.8% on average, which was mainly caused by the rise in the prices of wired and wireless telephone services. Internet access services became cheaper.

The prices of cultural services increased by 3.2%. Growth was also recorded in the prices of package holidays, flowers, pet food, and recreational and sporting services.

Among other commodity groups, the most notable increase was recorded in the prices of restaurant, cafe and fast food services, financial services and canteen services.

During the month, the average level of consumer prices increased by 0.5%

Compared to August 2016, in September 2016 the average level of consumer prices grew by 0.5%. Prices of goods increased by 0.7%, while prices of services declined by 0.2%.

In September, the consumer price level was mainly affected by an increase in the prices of clothing and footwear, food and non-alcoholic beverages, and prices in the miscellaneous goods and services group, as well as by a decrease in the prices of alcoholic beverages and tobacco, and goods and services related to transport.

During the month, prices of food and non-alcoholic beverages grew by 0.7%. Within the food group, the price increase was mainly influenced by prices of poultry, dried, salted or smoked meat, eggs, pork, butter, bakery products, and milk. In turn, a decrease was recorded in the prices of fresh fruit (of 2.2%), mainly grapes, lemons, bananas, and apples. Potatoes were also cheaper.

The average level of alcoholic beverage prices reduced by 1.8%, which was affected by shares of beer, spirits, and wine. Prices of tobacco products rose by 0.2%.

With the goods of the new season entering the market, prices of garments grew by 4.5% and prices of footwear rose by 8.8%.

Within the transport group, the average level of prices declined by 0.4%, which was mainly affected by a drop in the prices of passenger transport by air, as well as passenger transport by road and by sea. In turn, the price of fuels for transport increased by 0.5%.

As the sales of articles for personal hygiene and beauty products came to an end, their prices grew by 3.0% in September. Financial services also became more expensive.

Among other commodity groups, the most significant increase was recorded in the prices of household cleaning and maintenance products, recreational and sporting services, while the most notable decline was recorded in the prices of package holidays.

Changes in consumer prices

(% over the corresponding month of the previous year)