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Annual inflation in Latvia decreased to 2.2% in May

Oskars Alksnis, Statistics Latvia, 08.06.2012.Print version
Compared to April 2012, the average consumer price level in Latvia in May 2012 decreased by 0.2%. Prices of goods fell by 0.3%, but prices of services – rose by 0.1%. In comparison with May of the previous year, consumer prices increased by 2.2%, informs Central Statistical Bureau.

The greatest downward pressures on the price changes in May were put by transport and household goods, while the strongest upward pressures - by food products.


The overall level of consumer prices within the food commodity group was influenced by the end of special offers on bread (+1.1%), sausages and smoked meat (+0.5%), other meat products (+4.3%), tea and coffee (+4.2%), moreover, seasonal growth was recorded in the vegetable prices (+4.7%). Whereas prices of milk and dairy products diminished (-1.6%), as well as prices of butter (-1.9%), eggs (-5.3%) and fresh meat (-1.0%).


Affected by cease of discounts the prices of alcoholic beverages increased on average by 1.3%. Main price rise was recorded for spirits (+0.2%) and beer (+3.0%).


Reduction of the furnishing prices was caused by the promotions of non-durable household goods (-1.9%), tools and equipment (-0.7%), household textiles (-0.4%), as well as small electric appliances (-0.3%).


Within the transport group the prices of fuel dropped on average by 3.4%, of which prices of petrol reduced by 4.2% and prices of diesel - by 2.5%. Prices of maintenance and repair of transport vehicles decreased by 1.1%, whereas prices of airline tickets diminished by 1.5%.


Seasonal growth was recorded also in hotel service prices (+9.7%).


In comparison with May of the previous year, consumer prices increased by 2.2%. The average level of prices for goods increased by 2.4%, but for services – by 1.8%.


The annual average rate of change in May 2012 comprised 3.8%.


Consumer price changes by commodity group, %:

Commodity group

May 2011 - May 2012

December 2011 - May 2012

April 2012 -
May 2012

Total

2.2

2.0

-0.2

Food

1.1

2.9

0.1

Alcoholic beverages and tobacco

6.0

0.4

0.8

Clothing and footwear

-1.8

1.7

0.3

Housing, water, electricity, gas and fuels

6.6

3.9

0.1

Furnishing, household equipment and operation

-1.3

0.4

-0.5

Health care

0.8

0.1

0.1

Transport

3.1

2.8

-1.7

Communication

-0.9

-0.4

0.0

Recreation and culture

0.3

0.2

-0.1

Education

-1.8

0.5

0.1

Hotels and public catering

2.4

0.9

0.5

Miscellaneous goods and services

1.7

1.7

-0.3

 

Sub-indices having greatest impacts:

April 2012 - May 2012

Impact (percentage points)

Vegetables

+0.07

Alcoholic beverages

+0.05

Tea, coffee

+0.05

Bread

+0.02

Non-durable household goods

-0.02

Meat

-0.03

Milk, cheese and eggs

-0.09

Fuels

-0.22

May 2011 - May 2012

Impact (percentage points)

Heat energy

+0.62

Fuels

+0.45

Gas

+0.29

Tobacco

+0.24

Milk, cheese and eggs

+0.19

Meat and meat products

+0.18

Motor cars

-0.15

Vegetables

-0.27

 

 

 

 






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