Analytics, Economics, Inflation, Latvia, Statistics

Compared to February 2016, in February 2017 the greatest pressure on the price changes was put by the rise in prices of food and non-alcoholic beverages, goods and services related to transport, goods and services related to housing, prices in communication group, as well as by the decline in prices of clothing and footwear.

Compared to February 2016, in February 2017 the average level of food and non-alcoholic beverage prices increased by 6.1%. Increase was recorded in prices of fresh vegetables, milk products, cheese and curd, milk, butter, dried, salted or smoked meat, sugar, fresh or chilled fish, fresh fruit, chocolate, pork, sweets, and coffee. Reduction, in turn, was observed in prices of poultry and potatoes.

Over the year, prices of garments decreased by 2.1% and prices of footwear by 1.5%.

Prices of goods and services related to housing rose by 1.7%. Growth was recorded in maintenance charges in multi-occupied buildings, prices of refuse collection, sewage collection and water supply, whereas decline was observed in prices of natural gas.

Prices of goods and services related to transport increased by 6.7%, which was mainly affected by the rise in prices of fuels for transport of 18.8%. Decrease was recorded in prices of passenger transport by air, spare parts and accessories for personal transport equipment.

The average level of prices in communication group went up by 6.3%, which was mainly because of the increase in prices of wired and wireless telephone services. Prices of Internet access services, in its turn, fell.

Within other commodity groups, the most significant growth was recorded in prices of tobacco products, restaurant and café services, pharmaceutical products.

During the month, the average level of consumer prices increased by 0.4%

Compared to January 2017, in February 2017 the average level of consumer prices grew by 0.4%. Prices of goods increased by 0.6%, and prices of services did not change.

In February, the greatest pressure on the consumer price changes was put by the growth 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, as well as by the price decline in miscellaneous goods and services group and drop in prices of goods and services related to transport.

Over the month, prices of food and non-alcoholic beverages rose by 1.1%. Prices of fresh vegetables had the most significant increasing impact on the price level within the food group. Increase was recorded in prices of milk products, dried, salted or smoked meat, coffee, milk, pasta products, fresh or chilled fish. Decline, in turn, was observed in poultry prices.

Within the group of alcoholic beverages and tobacco products, the average level of prices went up by 0.7%, which was affected by the increase in prices of tobacco products and wine. However, due to the sales campaigns, prices of spirits dropped.

Prices of goods and services related to housing rose by 1.1%. Heat energy, the prices of which rose on average by 3.7% over the month, had the most significant influence within the group.

Within the transport group, the average level of prices declined by 0.3%, which was largely due to the drop in prices of passenger transport by air. Increase, in turn, was observed in prices of petrol.

Within the recreation and culture group, during the month prices grew by 0.6%, which was mostly affected by the rise in prices of package holidays and flowers. The average level of fiction book prices reduced.

Within the miscellaneous goods and services group, the average level of prices declined by 1.0%. Prices of articles for personal hygiene and beauty products, which fell by 2.9% because of the sales campaigns, had the greatest influence on the price level changes.

Within other commodity groups, the most notable increase was recorded in prices of pharmaceutical products. Reduction was observed in prices of footwear, household cleaning and maintenance products.

* The annual inflation reflects consumer price changes, comparing the average price level in the comparison month with the average price level in the corresponding month of the previous year.