On consumer price changes in March 2012

11.04.2012

Compared to February 2012 the average consumer price level in March 2012 rose by 0.6%. The average prices of goods rose by 0.7%, but of services – by 0.2%.

The greatest upward pressures on the price changes in March were put by clothing and footwear, food, alcoholic beverages and tobacco products, as well as goods and services related to transport and health.

The seasonal increase of vegetable prices by 9.7% had the greatest upward impact within the food group. Rise was observed in egg prices (+8.9%), as well as prices of milk and dairy products (+1.6%). Whereas due to sales campaigns reduction was recorded in prices of meat (-1.1%), cereal products (-0.7%), cookies and confectionery (-0.8%), as well as tea and coffee (-0.6%).

As a result of the end of the spirit promotions (+3.3%), prices of alcoholic beverages grew on average by 1.2%.

Price rise in clothing and footwear group was due to the end of seasonal discounts and as goods of new season entered the market. Prices of clothing increased by 3.7%, whereas footwear prices rose by 4.6%.

Within the transport group the prices of fuel grew on average by 1.9%, of which prices of petrol – by 2.1%, and prices of diesel – by 1.7%.

Rise was recorded also in medical good prices – of 0.8%, prices of individual care goods – of 2.3%, and insurance of motor vehicles – of 1.4%.

Price drop in housing equipment group was mainly influenced by the sales of household appliances (-0.3%) and non-durable household goods (-0.1%).

Compared to March of previous year, consumer prices have increased by 3.3%. The average price level for goods increased by 4.0%, but for services - by 1.5%.

The annual average rate of change in March 2012 was 4.2%.

Within 3 months of 2012 the consumer prices grew by 1.6% (March of this year in comparison with December 2011).
 

Consumer price change by commodity groups, %:

Commodity group

March 2011 -
March 2012

December 2011 -
March 2012

February 2012 -
March 2012

Total

3.3

1.6

0.6

Food

2.9

2.5

0.7

Alcoholic beverages and tobacco

6.7

0.5

0.7

Clothing and footwear

-1.4

-5.3

3.8

Housing, water, electricity, gas and fuels

10.2

3.7

0.1

Furnishing, household equipment and operation

0.1

1.1

-0.2

Health care

-0.2

0.1

0.5

Transport

4.1

2.8

0.5

Communication

-1.2

-0.3

0.1

Recreation and culture

-0.7

0.7

0.2

Education

-2.0

0.4

0.0

Hotels and public catering

2.0

0.0

-0.1

Miscellaneous goods and services

0.4

1.7

1.1

 

Sub-indices with most important impacts:

February 2012 - March 2012

Impact (percentage points)

Vegetables

+0.15

Fuels

+0.12

Clothing

+0.11

Milk, cheese and eggs

+0.08

Footwear

+0.07

Personal care products

+0.05

Meat and meat products

-0.04

Transport

-0.05

March 2011 - March 2012

Impact (percentage points)

Heat energy

+0.72

Fuels

+0.58

Electricity

+0.46

Tobacco products

+0.31

Gas

+0.29

Meat and meat products

+0.28

Non-alcoholic beverages

+0.16

Vegetables

-0.16

 

 

 

For further information:
Consumer Price Indices Section
Central Statistical Bureau of Latvia
Oskars Alksnis 371-67366865