On consumer price changes in February 2013

08.03.2013

Compared to February of previous year, consumer prices have increased by 0.3%. The average price level for goods increased by 0.4%, but for services – by 0.2%. The annual average rate of change in February 2013 was 1.8%.

The greatest upward pressures on the consumer prices in February 2013, as compared to February 2012, were put by the rise in prices of food as well as goods and services related to housing, whereas drop in the communication prices had the most significant downward impact.

The most notable growth in food products was recorded in the prices of vegetables (+5.2%), eggs (+26.3%), bread and cereals (+2.1%), fresh meat (+2.5%), fruit (+3.8%), whereas the largest reduction was observed in the prices of cheese (-2.8%), sugar (-3.7%), tea and coffee (‑1.1%).

In the housing group prices increased due to the rise in rent (of 8.0%), prices of other services, related to housing (of 3.7%) and heat energy (of 0.5%).

Prices of telecommunication devices diminished by 11.3% and prices of telecommunication services dropped by 6.6%.

In February compared to January, the average consumer price level decreased by 0.1%. During the month the average price level of goods decreased by 0.2%, while the average prices of services increased by 0.1%.

The greatest downward pressures on the price changes in February were put by goods and services related to housing, food, while the strongest upward pressures – by transport.

The prices within the housing group diminished due to the reduction in prices of heat energy (of 3.1%), materials for housing maintenance and repair (of 0.7%) and increase of the rent (of 0.8%).

In the food commodity group reduction was recorded in the prices of fresh meat (‑2.4%), especially of poultry, eggs (-2.5%), tea and coffee (-1.2%), milk and dairy products (‑0.4%). Whereas rise was observed in the prices of vegetables (+1.3%), bread (+1.1%), meat preparations (+0.5%).

Within the transport group the prices of fuel increased on average by 1.6%, of which prices of petrol – by 2.2%, prices of diesel – by 1.0%, while prices of liquid petroleum gas diminished by 2.0%.

The most notable drops among other consumer price groups were observed in the prices of goods for personal care (-2.6%), footwear (-2.0%), and non-durable households goods (‑2.4%). Prices of pharmaceutical products increased by 1.2% and prices of tobacco products grew by 0.8%.

Consumer price change by commodity groups, %:

Commodity group

February 2012 - February 2013

December 2012 - February 2013

January 2013 - February 2013

Total

0.3

-0.3

-0.1

Food and non-alcoholic beverages

1.8

0.6

-0.3

Alcoholic beverages and tobacco

0.7

0.7

0.5

Clothing and footwear

-1.0

-7.8

-0.6

Housing, water, electricity, gas and fuels

0.9

-1.0

-0.8

Furnishing, household equipment and operation

-2.2

0.2

-0.6

Health care

2.1

1.0

0.6

Transport

-0.8

0.5

0.5

Communication

-6.7

-0.2

0.0

Recreation and culture

0.1

0.3

0.7

Education

-1.1

-0.1

-0.2

Hotels, cafés and restaurants

0.6

-0.8

0.0

Miscellaneous goods and services

1.5

0.1

-1.0

Sub-indices with most important impacts:

January 2013 - February 2013

Impact (percentage points)

Fuels for transport

+0.10

Pharmaceutical products

+0.04

Package holidays

+0.04

Vegetables

+0.03

Footwear

-0.03

Goods for personal care

-0.05

Meat and meat products

-0.06

Heat energy

-0.14

February 2012 - February 2013

Impact (percentage points)

Milk, cheese, eggs

+0.12

Pharmaceutical products

+0.11

Vegetables

+0.11

Bread and cereals

+0.09

Rents

+0.08

Beer

-0.08

Motor cars

-0.13

Telecommunication services

-0.25

More detailed information is available in the CSB data base.

Press release on consumer price changes in March 2013 will be published on 9 April 2013.

 

Prepared by:
Consumer Price Indices Section
Oskars Alksnis 371-67366865