Analytics, Inflation, Latvia, Markets and Companies

Compared to November 2016, in November 2017 the average level of consumer prices was mainly affected by the rise in prices of food and non-alcoholic beverages, prices in the group of miscellaneous goods and services, goods and services related to housing, prices of goods and services related to transport, and health care.

The average level of prices of food and non-alcoholic beverages increased by 4.7%. A rise was recorded in the prices of milk, milk products, butter, cheese and curd, yoghurt, meat and meat products, fresh vegetables, fresh fruit, eggs, bakery products, potatoes and fresh or chilled fish. In turn, a drop was observed in the prices of sugar and pasta products.

Prices of goods and services related to housing grew by 2.6%. An increase was observed in the prices of heat energy, solid fuels, natural gas, refuse collection, as well as services for the maintenance and repair of the dwelling.

Within the health care group, the average level of prices went up by 3.3%, 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 2.1%, which was affected by the rise in prices of fuels for transport (of 5.1%). Growth was also recorded in the prices of maintenance and repair of personal transport equipment, second-hand motor cars. In turn, the prices of passenger transport by air went down.

Within the group of miscellaneous goods and services, the average level of prices grew by 8.0%, which was mostly due to the rise in prices of motor vehicle insurance. An increase was also recorded in the prices of articles for personal hygiene and beauty products.

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

Greatest contribution of goods and services to changes in the average level of consumer prices over the year

Compared to October 2017, in November 2017 the average level of consumer prices went up by 0.1%. Prices of goods grew by 0.3%, while prices of services fell by 0.3%.

In November, consumer price changes were mainly affected by the growth in prices of food and non-alcoholic beverages, prices of goods and services related to transport, goods and services related to housing, as well as the drop in prices in the recreation and culture group.

Over the month, prices of food and non-alcoholic beverages rose by 0.6%. An increase was observed in the prices of fresh vegetables, mainly tomatoes and cucumbers. Growth was also recorded in the prices of eggs, cheese and curd, bakery products, as well as dried, salted or smoked meat. In turn, poultry, pork, and fruit and vegetable juices became cheaper.

Prices of goods and services related to housing grew by 0.4%. Solid fuels and heat energy became more expensive, while a drop was recorded in the average price level of rentals for housing.

Prices of goods and services related to transport went up by 0.5%, which was mainly due to the 1.4% increase in prices of fuels for transport. In turn, the prices of passenger transport by air went down.

Within the recreation and culture group, the average level of prices decreased by 1.6%, as this was mainly due to the drop in prices of package holidays and pet food. There was an increase in the prices of flowers.

Among other commodity groups, the most notable growth was recorded in prices of catering services, while a decrease was observed in the prices of spirits.

Greatest contribution of goods and services to changes in the average level of consumer prices over the month

Consumer price changes in November 2017 by commodity group (as per cent, compared to the corresponding period)

Information on consumer price changes in December 2017 will be published on 10 January.

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

*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.