Analytics, Inflation, Latvia, Statistics
International Internet Magazine. Baltic States news & analytics
Thursday, 18.04.2024, 23:30
Latvia: During the year the average level of consumer prices increased by 2.2%
Compared to 2015, in January 2020 consumer prices were
9.2% higher. Prices of goods increased by 7.7%, and prices of services – by
13.1%.
Compared to January 2019, in January 2020 the
average level of consumer prices was mainly influenced by the rise in prices of
food and non-alcoholic beverages, goods and services related to transport,
alcoholic beverages and tobacco products, goods and services related to
recreation and culture, health care as well as restaurant and hotel services.
Over the
year, prices within the group of food and non-alcoholic beverages increased by
3.4%. Prices of pork (upturn of 16.5%), dried, salted or smoked meat (7.6%),
poultry (6.3%) and meat preparations (10.2%) had the strongest upward influence
on the average price level within the group. Rise was also registered in prices
of fresh fruit (of 14.1%), bakery products (4.4%), sugar (7.3%), flours and
other cereals (4.3%), ice cream (4.5%), fruit and vegetable juices (3.8%),
yoghurt (2.7%), rice (10.1%). Reduction was recorded in prices of cheese and
curd (of 4.2%), coffee (1.9%), butter (4.1%) and sour cream (2.4%).
The average
level of alcoholic beverages and tobacco prices increased by 2.5%. Prices of
alcoholic beverages rose by 2.4%, which was affected by growth of beer and spirits
prices. Prices of tobacco products rose on average by 2.7%.
Within the
health care group, the average level of prices rose by 3.0%, which was mainly
due to the increase in prices of general practitioner services and prices in
medical specialist practice. Upturn was also registered in prices of dental
services and pharmaceutical products.
Prices of
goods and services related to transport increased by 4.6%, which was influenced
by the rise in prices of fuels for transport (of 8.8%): prices of petrol
increased by 12.6%, of diesel by 7.2%, but average level of auto gas prices
decreased by 0.2%. Upturn was also recorded in prices of maintenance and repair
of personal transport equipment, as well as passenger transport including
passenger transport by road, air and rail.
Prices of
goods and services related to recreation and culture increased by 2.3%. Over
the year, average level of television subscription fee, newspapers and
magazines prices, prices of recreational and sporting services, toys went up.
Average
level of prices of restaurant and hotel services increased by 2.8%. The price
rise was mainly affected by catering services, as the average level of
restaurant and café service prices grew by 3.1% and that of canteen services by
4.2%, while prices of hotel services dropped by 2.8%.
The most
significant upturns among other commodity groups were recorded in prices of
heat energy, telecommunication services, refuse collection, materials for the
maintenance and repair of the dwelling, hairdressing salons and personal
grooming establishment services, while downturns were registered in prices of
natural gas, electricity and motor vehicle insurance.
Price
changes by commodity group
(as %)
Commodity
group |
2020
weights %** |
Price
changes in January 2020, compared to |
|
January 2019 |
December 2019 |
||
Total |
100.0 |
2.2 |
0.4 |
food |
21.8 |
3.4 |
1.6 |
alcohol, tobacco |
8.1 |
2.5 |
1.2 |
clothing, footwear |
5.6 |
-0.3 |
-8.9 |
housing |
16.5 |
-0.3 |
-0.2 |
furnishings |
4.1 |
1.3 |
0.9 |
health |
5.8 |
3.0 |
1.4 |
transport |
13.9 |
4.6 |
1.6 |
communication |
3.7 |
2.3 |
1.1 |
recreation, culture |
8.5 |
2.3 |
-0.4 |
education |
1.3 |
-0.5 |
0.1 |
restaurants, hotels |
5.4 |
2.8 |
0.2 |
miscellaneous |
5.3 |
0.0 |
1.8 |
During the month, the average level of consumer prices increased by 0.4%
Compared to
December 2019, in January 2020 the average level of consumer prices
increased by 0.4%. Prices of both goods and services grew by 0.4%. Rise in
prices of food and non-alcoholic beverages, goods and services related to
transport, alcoholic beverages and tobacco products, miscellaneous goods and
services, health care, as well as drop in prices of clothing and footwear had
the most significant effect on the price changes.
Over the
month prices of food and non-alcoholic beverages grew by 1.6%. Prices of fresh
vegetable (rise of 5.7%) and fresh fruit (5.1%) had the strongest upward
influence on the average price level within the group. Rise was registered in
prices of poultry (of 4.6%), pork (2.5%), as well as dried, salted or smoked
meat (0.6%). Upturn was also recorded in prices of chocolate (of 6.8%), coffee
(3.7%), fresh or chilled fish (7.8%), pasta products (5.1%), butter (3.0%) and
sugar (3.5%). Reduction was registered in prices of curd (of 3.7%) and olive
oil (6.5%).
The average
price level of alcoholic beverages rose by 0.7%, which was mainly affected by
growth in prices of spirits and wine. The average price level of tobacco
products increased by 2.0 %.
Affected by
discounts and sales, prices of clothing dropped by 9.4%, but prices of footwear
– by 8.6%.
Prices
within the health care group rose by 1.4%. Prices of general practitioner
services increased, that was affected by the rise of patient co-payment for a
family doctor services as of 1 January 2020. Upturn was registered in
prices in medical specialist practice and pharmaceutical products, while drop
was recorded in prices of hospital services.
Prices of goods
and services related to transport increased by 1.6%. The average level of
prices of fuels for transport went up by 5.6%, also due to the excise duty on
fuel rise as of 1 January 2020. Prices of diesel increased by 5.9%,
of petrol – by 5.1% and of auto gas – by 5.4%. As fares of regional and
interurban bus tickets as well as train tickets went up, passenger
transport by road and by rail became more expensive, while prices of passenger
transport by air reduced over a month.
Within the
miscellaneous goods and services group, the average level of prices rose by 1.8%,
which was due to the end of discounts on articles for personal hygiene and
beauty products.
The most
significant upturns among other commodity groups were recorded in prices of
maintenance charges in multi-occupied buildings, rentals for housing, catering
services. As natural resource tax rate increased, prices of refuse collection
went up, while prices of electricity and natural gas in January decreased.
During the month prices of package holidays went down as well.
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