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Inflation level in Latvia reaches 3.2%

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Compared to September 2017, the average level of consumer prices rose by 3.2 % in September 2018. Prices of goods grew by 3.3 % and prices of services by 2.9 %. Compared to 2015, consumer prices were by 6.2 % higher in September 2018.


Prices of goods increased by 4.8 % and prices of services by 9.8 %.
 

Compared to September 2017, the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to transport, goods and services related to housing, alcoholic beverages and tobacco products, food and non-alcoholic beverages, as well as prices in miscellaneous goods and services group in September 2018, according to data from the Central Statistical Bureau of Latvia.
 

Within the group of food and non-alcoholic beverages, the greatest upward pressure on the price changes during the year was exerted by prices of fresh vegetables (up by 16.3 %). Increase was registered in prices of bread (of 6.0 %), eggs (9.1 %), fruit and vegetable juices (8.1 %), fresh and chilled fish (12.0 %), bakery products (2.3 %), dried, salted or smoked meat (0.9 %), and milk products (1.3 %). Reduction, in turn, was observed in prices of sugar (of 22.0 %), coffee (4.4 %), vegetable oil (8.8 %), and poultry (1.7 %).
 

The average level of prices of alcoholic beverages and tobacco products went up by 5.7 %. Prices of alcoholic beverages grew by 5.3 %, which was mainly due to the rise in prices of spirits, wine and beer. Prices of tobacco products rose on average by 6.3 %.
 

Prices of goods and services related to housing increased by 5.0 %. An upturn was registered in prices of solid fuels, heat energy, water supply, and natural gas, in maintenance charges in multi-occupied buildings and rentals for housing, as well as in prices of refuse collection, sewage collection. In its turn, the average level of electricity prices fell.
 

Within the group of goods and services related to transport, the main upward pressure was applied by prices of fuel (increase of 17.2 %). Prices of diesel grew by 20.6 %, of petrol by 14.6 %, and of auto gas by 4.8 %. Prices of maintenance and repair of personal transport equipment increased, whereas prices of passenger transport by air fell.
 

Within the group of miscellaneous goods and services, the average level of prices grew by 4.5 %, which was mostly influenced by the rise in prices of motor vehicle insurance. Increase was also recorded in prices of articles for personal hygiene and beauty products, prices in hairdressing salons and personal grooming establishment services, as well as prices of financial services.
 

Among other commodity groups, the most significant growth was recorded in prices of catering services, footwear, dental services, television subscription fee, prices of telecommunication services, as well as household cleaning and maintenance products. Prices of package holidays, in turn, dropped.
 

Compared to August, the average level of consumer prices increased by 0.6 % in September 2018. Prices of goods grew by 1.0 %, while prices of services fell by 0.3 %. The greatest pressure on the consumer price changes was put by the rise in prices of clothing and footwear, food and non-alcoholic beverages, prices in miscellaneous goods and services group, prices of education, restaurant and hotel services, as well as decline in prices of goods and services related to transport.
 

Over the month, prices of food and non-alcoholic beverages grew by 0.8 %. Prices of fresh vegetables (rise of 25.0 %) had the strongest upward influence on the average price level within the group. Increase was recorded in prices of fresh or chilled fish (of 11.3 %), dried, salted or smoked meat (1.0 %), bakery products (1.7 %), flours and other cereals (4.8 %), meat products (3.2 %), and bread (1.2 %). Reduction, in its turn, was registered in prices of fresh fruit (of 6.1 %), coffee (3.7 %), potatoes (11.5 %), and fruit and vegetable juices (4.7 %).
 

As goods of the new season entered the market, footwear prices went up by 16.3 %. The average level of garment prices increased by 3.1 %.
 

Prices of goods and services related to transport reduced by 0.1 %, which was mainly influenced by the decline in prices of passenger transport by air and passenger transport by sea. The average level of prices of fuels for transport grew by 1.6 %, of which prices of diesel went up by 1.8 % and of petrol by 1.5 %.
 

Along with the beginning of the new school year, prices of education services grew by 2.7 %. The rise in the average level of the education prices mainly was affected by the upturn in prices of higher education.
 

Within the group of restaurant and hotel services, prices grew by 0.5 %, which was mainly influenced by the increase in prices of catering services.
 

Within the miscellaneous goods and services group, the average level of prices went up by 1.8 %, which was because of the rise in prices of articles for personal hygiene and beauty products.
 

Among other commodity groups, the most notable increase was registered in prices of flowers, tobacco products, spirits, as well as household cleaning and maintenance products. Decline, in its turn, was observed in prices of package holidays, beer, rentals for housing, and pet food.

BNN

09-10-2018
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