Analytics, Inflation, Latvia, Markets and Companies

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, %:

Sub-indices having greatest impacts: