Analytics, Inflation, Latvia, Markets and Companies
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Friday, 17.05.2024, 11:15
Annual inflation in Latvia comprised 2.8% in April
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The greatest upward pressures on the price changes in April were put by fuel, food products, clothing and footwear as well as the price decrease for alcoholic beverages.
In food product group the most significant growth was recorded for eggs (+26.1%), meat (+1.4%), milk and dairy products (+0.5%), sausages and smoked products (+0.6%) and sweets (+1.2%). In its turn, the most significant decrease was registered in the prices of vegetables (-8.7%), tea and coffee (-2.8%), bread (-1.3%) and sugar (-0.8%).
Price rise in clothing and footwear group was due to the end of seasonal discounts and as goods of new season entered the market. Prices of clothing increased by 5.8% and for footwear – by 10.6%.
Within the transport group the prices of fuel grew on average by 3.0%, of which prices of petrol – by 5.1%, while prices for diesel decreased by 0.4%. Transport services increased on average by 2.7%, which was mainly determined by price growth in the prices of tickets in intercity buses of 9.1% and in passenger rail transport – by 5.7%.
The price decrease for alcoholics beverages was mostly affected by the decline of 3.6% in prices of beer and of 0.7% in prices for strong alcoholic beverages.
Due to the beginning of the tourist season, prices for hotel services grew by 4.5%.
Compared to April of previous year, consumer prices have increased by 2.8%. The average price level for goods increased by 3.1%, but for services – by 1.8%. The annual average rate of change in April 2012 was 4.1%.
Consumer price change by commodity groups, %:
|
Commodity group |
April 2011 – |
December 2011 – |
March 2012 – |
|
Total |
2.8 |
2.2 |
0.6 |
|
Food |
2.1 |
2.8 |
0.3 |
|
Alcoholic beverages and tobacco |
5.2 |
-0.4 |
-0.9 |
|
Clothing and footwear |
-0.7 |
1.4 |
7.1 |
|
Housing, water, electricity, gas and fuels |
7.4 |
3.8 |
0.1 |
|
Furnishing, household equipment and operation |
-0.9 |
0.9 |
-0.2 |
|
Health care |
-0.3 |
0.0 |
-0.1 |
|
Transport |
4.7 |
4.5 |
1.7 |
|
Communication |
-0.9 |
-0.4 |
-0.1 |
|
Recreation and culture |
-0.2 |
0.3 |
-0.3 |
|
Education |
-2.0 |
0.4 |
0.0 |
|
Hotels and public catering |
2.1 |
0.5 |
0.5 |
|
Miscellaneous goods and services |
1.5 |
2.0 |
0.3 |
Sub-indices with most important impacts:
|
March 2012 – April 2012 |
Impact (percentage points) |
|
Fuels |
+0.19 |
|
Milk, cheese and eggs |
+0.19 |
|
Clothing |
+0.18 |
|
Footwear |
+0.17 |
|
Meat and meat products |
+0.05 |
|
Transport |
+0.04 |
|
Alcoholic beverages |
-0.06 |
|
Vegetables |
-0.14 |
|
April 2011 – April 2012 |
Impact (percentage points) |
|
Heat energy |
+0.73 |
|
Fuels |
+0.64 |
|
Tobacco products |
+0.29 |
|
Gas |
+0.29 |
|
Milk, cheese and eggs |
+0.28 |
|
Meat and meat products |
+0.26 |
|
Vehicles |
-0.14 |
|
Vegetables |
-0.37 |
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