On consumer price changes in October 2011

08.11.2011

Compared to September 2011, the average consumer price level in October 2011 increased by 0.2%. Prices of goods grew by 0.3%, but the average price level for services didn’t change.

The greatest upward pressures on the price changes in October were put by food, transport, clothing and footwear, but downward – by goods and services related to housing.

The growth of food prices was mainly influenced by the seasonal increase in vegetable prices (of 14.2%). Due to the end of special offers, the prices of bread increased by 1.6%, as well as prices of fresh meat (by 1.1%), prices of fats and oils (by 2.0%), and prices of tea and coffee (by 2.3%). In its turn, reduction was recorded in prices of potatoes (-14.8%), sausages, smoked and dried meat (-1.2%), cereal products (-1.2%), juices and bottled water (-1.4%), fresh fish (-1.2%).

The rise in fuel prices on average by 1.4% had the most significant influence on transport group, the highest growth was observed in prices of diesel (of 4.1%) and automotive gas (of 3.7%). Prices of spare parts and accessories for personal transport equipment as well as prices of maintenance and repair of transport vehicles increased.

Growth in prices of clothing and footwear was stimulated by both trade in goods of new season and end of sales, and, as a result of that, the prices of footwear rose by 2.2%, but prices of clothing - by 1.8%.

The strongest downward pressure on the average price level in housing group was applied by heat energy, prices of which dropped by 1.3%. In its turn, rent rose by 1.4%.

Under the influence of sales, the prices of alcoholic beverages, household appliances, tableware, TV, visual and audio equipment, pet food, educational textbooks, sports and recreational equipment diminished. Prices of airline tickets, package holidays, recreational and sports services reduced.

Compared to October of the previous year, consumer prices increased by 4.4%. The average price level for goods increased by 5.7%, but for services – by 1.1%.

The annual average rate of change in October 2011 was 4.1%.

 

Consumer price change by commodity groups, %

Commodity group

October 2010 -

October 2011

December 2010 - October 2011

September 2011 - October 2011

Total

4.4

4.1

0.2

Food and non-alcoholic beverages

6.8

4.2

0.5

Alcoholic beverages and tobacco

5.0

5.0

-0.7

Clothing and footwear

1.3

4.5

1.6

Housing, water, electricity, gas and other fuels

8.0

8.0

-0.3

Household goods and services

-0.7

0.3

0.2

Health care

-3.0

0.2

0.0

Transport

9.0

6.5

0.7

Communications

-1.6

-1.6

-0.1

Recreation and culture

-0.9

0.6

-0.2

Education

-2.0

-2.0

0.0

Hotels, cafes and restaurants

2.3

2.5

0.1

Miscellaneous goods and services

2.4

3.4

0.5

 

Sub-indices with most important impacts

September 2011 - October 2011

Impact (percentage points)

Vegetables

+0.10

Fuels

+0.09

Clothing

+0.06

Footwear

+0.04

Bread and cereals

+0.03

Alcoholic beverages

-0.05

Potatoes

-0.06

Heat energy

-0.06

 

October 2010 - October 2011

Impact (percentage points)

Fuels

+1.10

Electricity

+0.80

Milk, cheese and eggs

+0.51

Meat and meat products

+0.39

Non-alcoholic beverages

+0.32

Tobacco products

+0.26

Sugar, sweets

+0.21

Oils and fats

+0.19

 

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