Analytics, Economics, Inflation, Latvia, Statistics

Compared to December 2016, in January 2017 the average level of consumer prices increased by 0.1%. Prices of goods went up by 0.4%, and prices of services declined by 0.4%.

The greatest pressure on the consumer price changes was put by the growth in prices of food and non-alcoholic beverages, prices in miscellaneous goods and services group, prices of goods and services related to transport, as well as by the decline in prices of clothing and footwear, goods and services related to recreation and culture.

During the month, prices of food and non-alcoholic beverages went up by 1.7%. Prices of fresh vegetables had the most significant increasing impact on the price level within the food group. Rise was recorded in prices of cheese and curd, meat and meat products, fruit, butter, sour cream, milk, chocolate, eggs, sugar, coffee, and fresh or chilled fish. Decline, in turn, was observed in prices of fruit and vegetable juices, as well as yoghurt.

Due to the sales campaigns, prices of garments dropped by 10.6% and prices of footwear by 6.5%.

Within the transport group, the average level of prices rose by 0.6%, which was mainly because of the increase in prices of fuels for transport (of 4.2%). Reduction was observed in prices of passenger transport by air.

Within the recreation and culture group, during the month prices decreased by 1.0 %, which was mainly affected by the decline in prices of package holidays and pet food.

Within the miscellaneous goods and services group, the average level of prices grew by 2.5 %. Increase was observed in prices of articles for personal hygiene and beauty products, which were influenced by the end of sales campaigns.

Within other commodity groups, the most notable increase was recorded in prices of natural gas, household cleaning and maintenance products, refuse collection, as well as tobacco products. Reduction was recorded in prices of spirits.