Analytics, Inflation, Latvia, Retail, Statistics

Over the year, prices within the group of food and non-alcoholic beverages increased by 2.5%. Prices of dried, salted or smoked meat (up by 6.9%), pork (10.7%), poultry (3.9%), and meat products (4.0%) had the most significant upward influence on the average price level within the group. Upturn was also registered in prices of bread (of 4.9%), fresh fruit (6.1%), bakery products (3.6%), chocolate (5.2%), yoghurt (5.1%), sugar (5.7%), and potatoes (6.3 %). Reduction, in turn, was recorded in prices of coffee (of 6.5 %), milk (5.8%), eggs (3.5%), fresh vegetables (1.0%), as well as cheese and curd (1.1%).

The average level of alcoholic beverage and tobacco product prices went up by 4.5%. Prices of alcoholic beverages increased by 4.6%, which was mainly influenced by the change in beer prices. Tobacco product prices grew on average by 4.5%.

Over the year, prices of goods and services related to housing rose by 3.6%. Increase was registered in prices of electricity, heat energy, refuse collection, materials for the maintenance and repair of the dwelling, rentals for housing, services for the maintenance and repair of the dwelling, as well as maintenance charges in multi-occupied buildings. Reduction, in turn, was observed in natural gas and solid fuel prices.

Within the health care group, the average level of prices rose by 2.7%, which was mainly influenced by the prices increase in medical specialist practice and rise in prices of dental services and pharmaceutical products.

Within the group of goods and services related to transport, the strongest downward influence was exerted by prices of fuel (of 5.2%), of which prices of diesel fell by 6.6%, of petrol by 2.9%, and of auto gas by 7.4%. Reduction was also observed in prices of second-hand motor cars. Rise, in turn, was registered in the average level of prices of maintenance and repair of personal transport equipment as well as passenger transport by air.

Prices of goods and services related to recreation and culture grew by 3.5%. Increase was recorded in prices of package holidays and television subscription fee.

Prices of restaurant and hotel services grew on average by 3.1%, which was mainly influenced by the rise in restaurant and café service prices (of 3.5%). Prices of canteen services went up by 3.9%.

Upturn in prices of telecommunication services, garments, hairdressing salons and personal grooming establishment services, household furniture, and footwear had significant influence on the price rise over the year as well. The average level of motor vehicle insurance prices, in turn, reduced.