On consumer price changes in October 2012

08.11.2012

Compared to September 2012 the average consumer price level in October 2012 didn’t change. The average prices of goods rose by 0.2%, but of services decreased by 0.6%.

The greatest upward pressures on the price changes in October were put by food and non-alcoholic beverages, clothing and footwear, while reduction in prices of transport, communications and alcoholic beverages had the most significant diminishing impact.

The growth of food prices was mainly influenced by the seasonal increase in vegetable prices of 26.7%. Prices of meat and meat products rose by 0.7%, prices of milk and dairy products –by 0.5%, prices of tea and coffee –by 2.1%, while prices of juices and soft drinks –by 4.2%. Whereas potato prices dropped by 9.4%, prices of bread and cereal products –by 0.7%, and prices of eggs –by 2.2%.

Due to special offers, prices of alcoholic beverages diminished by 1.4%, of which prices of sprits reduced by 1.4%, prices of vine – by 1.8%, and prices of beer – by 1.2%.

Growth in prices of clothing and footwear was stimulated by trade in goods of new season, and as a result prices of footwear rose by 3.8% and prices of clothing – by 1.5%.

Prices of fuel reduced on average by 2.3%, of which prices of petrol decreased by 3.1% and prices of diesel – by 1.1%.

The average price level of telecommunication services diminished by 3.8%, which was affected by drop in prices of mobile telecommunication services and internet access provision services.

Reduction was recorded also in prices of motor cars, package holidays, ferry tickets, audio-visual, photographic and information processing equipment, as well as individual care goods.

Compared to October of previous year, consumer prices have increased by 1.6%. The average price level for goods increased by 1.8%, but for services – by 1.0%.

The annual average rate of change in October 2012 was 2.7%.

Consumer price change by commodity groups, %:

Commodity group

October 2011 - October 2012

December 2011 - October 2012

September 2012 - October 2012

Total

1.6

1.6

0.0

Food

2.3

1.8

1.2

Alcoholic beverages and tobacco

0.6

-1.3

-0.6

Clothing and footwear

-3.2

-0.4

2.4

Housing, water, electricity, gas and fuels

5.7

5.9

0.0

Furnishing, household equipment and operation

-2.0

-1.1

0.1

Health care

0.8

0.5

-0.1

Transport

2.2

2.5

-1.4

Communication

-5.6

-5.5

-3.7

Recreation and culture

0.6

0.4

-0.6

Education

-0.9

-0.6

0.1

Hotels and public catering

2.2

1.3

0.0

Miscellaneous goods and services

1.0

2.7

0.0

Sub-indices with most important impacts:

September 2012 - October 2012

Impact (percentage points)

Vegetables

+0.23

Footwear

+0.06

Non-alcoholic beverages

+0.05

Clothing

+0.05

Motor cars

-0.05

Alcoholic beverages

-0.05

Telecommunication services

-0.15

Fuels

-0.15

 

October 2011 - October 2012

Impact (percentage points)

Heat energy  

+0.69

Fuels

+0.41

Vegetables

+0.20

Fruit

+0.18

Gas

+0.17

Clothing

-0.11

Motor cars

-0.17

Telecommunication services

-0.21

 

 

For further information:

Consumer Price Indices Section
Central Statistical Bureau of Latvia
Oskars Alksnis
371-67366865