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Thursday, 25.04.2024, 12:57
Price level in Lithuania is 40% lower than in EU; in Latvia and Estonia 30% lower
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Swedbank’s senior economist Lija Strasuna told reporters today that prices of clothing and footwear are higher because the Baltic States' markets are relatively small and their sales volumes are insufficient to reduce the prices.
Swedbank’s chief economist Martins Kazaks points out that, according to the latest observations, several businessmen also tend to increase the prices in their stores, which cannot be justified by increased costs, writes LETA.
The bank believes that it is necessary to facilitate competition to prevent exorbitant prices.
Kazaks believes that residents should assess whether the price level matches the particular item and if it does not, look for a cheaper solution in another store.
As reported, compared to May 2010, the average consumer price level in May of this year increased by 5%, the Central Statistical Bureau (CSB) informed the business information portal ''Nozare.lv''.
The average price level for goods increased by 6.7%, but for services – by 0.4%.
The annual average rate of change in May 2011 was 2.1%.
On the other hand, compared to April 2011, the average consumer price level in May 2011 increased by 0.4%. Prices of goods rose by 0.5% and of services – by 0.1%.
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