On consumer price changes in August 2012

10.09.2012

Compared to July 2012 the average consumer price level in August 2012 decrease by 0.3%. The average prices of goods decrease by 0.4%, but of services rose by 0.1%.

The greatest downward pressures on the prices in August were put by the price drop for food, clothing and footwear, alcoholic beverages and tobacco, while price growth for transport, health care goods and services as well as housing maintenance expenditure had the most important increasing influence.

As new harvest entered the market, most notable reduction among the food prices witnessed potatoes and vegetables (-16.7%). Drop was recorded also in prices of fruit (-3.9%), juices and refreshing beverages (-0.9%), bread (-0.1%), whereas prices of fish and fish products grew (+1.1%), as well as prices of meat and meat products (+0.6%), other food products (+0.5%), tea and coffee (+0.1%), sugar and sweets (+0.1%).

Most significant price reduction within the clothing and footwear group, due to the seasonal sales, was observed in clothing prices (of 0.8%) and prices of footwear (of 7.3%).

Housing maintenance expenditure in August grew by 0.2%, of which rent rose by 1.0% and prices of solid fuel – by 1.1%.

Due to the discounts, prices of alcoholic beverages diminished by 2.1%. Beer prices dropped by 3.8%, vine prices - by 1.1%, and prices of spirits – by 0.8%.

Average fuel price level increased by 5.0%, of which prices of  petrol rose by 4.7%, and diesel price - by 6.3%. While sales organised because of the ending active recreation season caused a reduction in the bicycle prices (-3.4%). Prices of passenger air transport services diminished by 1.2%.

Average price level of health care goods and services increased by 0.9%, thus prices of pharmaceutical products and dietary supplements rose by 1.7%, while prices of sanatorium services dropped by 2.2%.

Compared to Augustof previous year, consumer prices have increased by 1.7%. The average price level for goods increased by 1.7%, but for services - by 1.8%.

The annual average rate of change in August 2012 was 3.1%.

Consumer price change by commodity groups, %:

Commodity group

August 2011 - August 2012

December 2011 - August 2012

July 2012 - August 2012

 

 

 

Total

1.7

1.2

-0.3

Food

2.1

0.7

-1.5

Alcoholic beverages and tobacco

1.0

-1.8

-1.2

Clothing and footwear

-4.1

-7.4

-2.8

Housing, water, electricity, gas and fuels

5.3

5.8

0.2

Furnishing, household equipment and operation

-1.7

-1.1

-0.9

Health care

0.5

1.1

0.9

Transport

3.1

2.8

2.0

Communication

-2.1

-1.9

0.0

Recreation and culture

0.7

1.1

-0.1

Education

-1.8

0.4

-0.1

Hotels and public catering

2.3

1.4

-0.1

Miscellaneous goods and services

1.1

2.0

0.3

Sub-indices with most important impacts:

July 2012 -
August 2012

Impact (percentage points)

Fuels

+0.30

Pharmaceuticals

+0.06

Meat and meat products

+0.04

Non-durable household goods

-0.03

Fruit

-0.06

Alcoholic beverages

-0.08

Footwear

-0.12

Vegetables

-0.36

 

August 2011 -
August 2012

Impact (percentage points)

Heat energy

+0.64

Fuels

+0.43

Vegetables

+0.17

Tobacco products

+0.17

Gas

+0.17

Fruit

+0.15

Clothing

-0.13

Motor cars

-0.14

 

For further information:

Consumer Price Indices Section
Central Statistical Bureau of Latvia

Oskars Alksnis 371-67366865