Analytics, Inflation, Latvia, Markets and Companies

Compared to September 2016, in September 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, prices in miscellaneous goods and services group, prices of goods and services related to housing, as well as prices of health care.

The average level of food and non-alcoholic beverage prices increased by 5.5%. Rise was recorded in prices of milk and milk products, butter, cheese and curd, yoghurt, meat and meat products, vegetables and fresh fruit, eggs, bakery products, vegetable oil, and chocolate.

Prices of goods and services related to housing grew by 1.9%. Increase was observed in prices of heat energy, natural gas, solid fuels, refuse collection, as well as services for the maintenance and repair of the dwelling, whereas decline was recorded in prices of materials for the maintenance and repair of the dwelling.

Within the health care group, the average level of prices went up by 3.5%, which was mainly influenced by the rise in prices of pharmaceutical products, dental services, and prices in medical specialist practice.

Prices of goods and services related to transport increased by 3.2%, which was mainly affected by the rise in prices of fuels for transport (of 7.6%).  Increase was recorded also in prices of maintenance and repair of personal transport equipment, second-hand motor cars.  Prices of passenger transport by air and passenger transport by sea, in its turn, went down.

Within the miscellaneous goods and services group, the average level of prices grew by 5.5%, which was mostly due to the influence exerted by the rise in prices of motor vehicle insurance.  Rise was registered also in prices of hairdressing salons and personal grooming establishment services.

Among other commodity groups, the most significant growth was recorded in prices of tobacco products, telecommunication services, catering services, and package holidays.  Decline, in turn, was observed in prices of household cleaning and maintenance products, footwear, and spirits.

Compared to August 2017, in September 2017 the average level of consumer prices increased by 0.3%. Prices of goods went up by 0.5%, while prices of services fell by 0.4%.

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

Over the month, prices of food and non-alcoholic beverages fell by 0.4%. Decline was recorded in prices of vegetables and fresh fruit, bread, sugar, and chocolate. Increase, in its turn, was observed in prices of milk and milk products, cheese and curd, dried, salted or smoked meat, and poultry.

As the goods of the new season started entering the market, prices of garments grew by 3.6% and prices of footwear by 8.2%.

Prices of goods and services related to transport increased by 0.6%, which was mainly influenced by the rise in prices of fuels for transport (of 3.8%). Prices of passenger transport by air and passenger transport by sea, in its turn, went down.

In the recreation and culture group, prices decreased on average by 0.8%, which was mainly affected by the drop in prices of package holidays and pet food.

Within the miscellaneous goods and services group, the average level of prices rose by 1.7%. Increase was registered in prices of articles for personal hygiene and beauty products and motor vehicle insurance.

Among other commodity groups, the most notable growth was recorded in prices of spirits, whereas the most significant reduction was observed in prices of household cleaning and maintenance products.

Information on consumer price changes in October 2017 will be published on 8 November.

More detailed information on consumer price changes is available in the CSB database section Consumer Prices.

* 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.