Analytics, Economics, Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 04:03

Latvian consumer prices down 0.1% in November

Nataļja Dubkova Consumer Price Indices Section, 11.12.2018.Print version
The latest data of the Central Statistical Bureau (CSB) show that in November 2018, compared to November 2017, the average level of consumer prices* rose by 3.0%. Prices of both goods and services grew by 3.0%


Compared to 2015, in November 2018 consumer prices were 6.8 % higher. Prices of goods increased by 5.9 % and prices of services by 9.1 %.



Compared to November 2017, in November 2018 the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to transport, goods and services related to housing, alcoholic beverages and tobacco products, restaurant and hotel services, recreation and culture group, as well as prices in miscellaneous goods and services group.



Over the year, prices within the group of food and non-alcoholic beverages increased by 0.4%. The strongest upward influence on the average price level within the group was exerted by prices of bread (rise of 5.8%), fruit and vegetable juices (13.9%), fresh vegetables (3.0%), meat preparations (6.1%), eggs (6.7%), pork (3.3%), bakery products (2.6%), dried fruit and nuts (9.1%), flours and other cereals (3.6%). Decline, in turn, was registered in prices of fresh fruit (of 8.1%), sugar (24.1%), dried, salted or smoked meat (3.0%), coffee (1.8%), butter (4.3%), sour cream (3.4%).


The average level of prices of alcoholic beverages and tobacco products went up by 5.8%. Prices of alcoholic beverages grew by 5.5%, which was mainly due to the rise in prices of spirits, wine and beer. Prices of tobacco products rose on average by 6.3%.


Prices of goods and services related to housing increased by 5.0%. An upturn was registered in prices of solid fuels, water supply, natural gas, heat energy, in maintenance charges in multi-occupied buildings and rentals for housing, as well as in prices of refuse collection, services for the maintenance and repair of the dwelling, and sewage collection. In its turn, the average level of electricity prices fell.


Within the group of goods and services related to transport, the main upward pressure was applied by prices of fuel (increase of +15.7%). Prices of diesel grew by 19.1%, of petrol by 11.5%, and of auto gas by 12.8%. Increase was also recorded in prices of maintenance and repair of personal transport equipment, while prices of passenger transport by air and second-hand motor cars fell.


Within the recreation and culture group, the average level of prices during the year went up by 2.1%, which was due to the increase in prices of television subscription fee, as well as to the rise in prices of goods for pets, flowers, recreation and sports services.


Within the group of restaurant and hotel services, the average level of prices rose by 3.8%, which was mainly due to the increase in prices of catering services.


Within the group of miscellaneous goods and services, the average level of prices grew by 3.0%, which was mostly due to the rise in prices of services in hairdressing saloons and personal grooming establishments, of motor vehicle insurance and financial services.

Among other commodity groups, the most significant growth was recorded in prices of dental services, garments, prices of telecommunication services, household cleaning and maintenance products.


Price changes by commodity group 
(as %)


Commodity group

Price changes in November 2018, compared to

November 2017

December 2017

October 2018

Total

3.0

2.9

-0.1

food

0.4

0.0

0.0

alcohol, tobacco

5.8

6.4

-0.1

clothing, footwear

0.5

3.7

-1.0

housing

5.0

4.9

-0.2

furnishings

1.4

3.2

0.7

health

2.4

2.5

-0.3

transport

5.7

4.1

-0.3

communication

1.4

1.3

-0.2

recreation, culture

2.1

1.3

-1.1

education

1.5

1.6

0.0

restaurants, hotels

3.8

3.6

0.3

miscellaneous

3.0

4.5

1.6

 


During the month, the average level of consumer prices fell by 0.1%

Compared to October, in November 2018 the average level of consumer prices decreased by 0.1 %. Prices of goods did not change, while prices of services fell by 0.3 %. The greatest pressure on the consumer price changes was put by the drop in prices of recreation and culture group, clothing and footwear, goods and services related to transport, goods and services related to housing, as well as increase in prices in miscellaneous goods and services group.






Over the month, average level of prices of food and non-alcoholic beverages did not change. Reduction was observed in prices of poultry (of 2.8%), dried, salted or smoked meat (1.6%), sour cream (3.9 %), fresh fruit (1.5%), fresh or chilled fish (5.7%), butter (2.9%). An increase, in turn, was registered in prices of coffee (of 5.0%), bread (2.7 %), fresh vegetables (1.5%), eggs (3.3%), flours and other cereals (4.5%), bakery products (1.2%), milk (1.8%).

Due to the influence exerted by discounts, prices of footwear fell by 3.4%, but of garments – by 0.2%.


Prices of goods and services related to housing decreased by 0.2%. Decline was recorded in rentals for housing.


Prices of goods and services related to transport reduced by 0.3%, which was mainly affected by the decline in prices of petrol by 2.4%. The average level of prices of passenger transport by air dropped, but prices of diesel increased by 0.8%, of auto gas – by 3.7%.


Within the recreation and culture group, the average level of prices fell by 1.1%, which was mainly affected by drop in prices of package holidays. Prices of pet food reduced as well.

Within the miscellaneous goods and services group, the average level of prices rose by 1.6%, which was due to the rise in prices of articles for personal hygiene and beauty products.


Among other consumption groups, the most significant drop was recorded in prices of spirits and pharmaceutical products. Increase, in its turn, was registered in prices of household cleaning and maintenance products, catering services.







← Back↑ Up

Русский
Search site