Consumer price level in February 2012

08.03.2012

Compared to January 2012 the average consumer price level in February 2012 rose by 0.1%. The average prices of goods rose by 0.2%, but of services – by 0.1%.

The greatest upward pressures on the price changes in February were put by food, alcoholic beverage and tobacco product groups as well as goods and services related to transport, but downward – by clothing and footwear.

The seasonal increase of vegetable and fruit prices (by 9.7% and 5.9%, respectively) had the greatest upward impact within the food group. Prices of fresh meat grew by 0.5%, while, due to the end of special offers, a rise was recorded in the prices of confectionery (+1.2%), tea and coffee (+0.6%). Whereas, influenced by the sales campaigns, the prices of bread and cereal products decreased by 1.0%, and prices of milk and dairy products - by 1.5%.

Due to the end of beer promotion campaigns and rise in the beer prices of 8.0%, the prices of alcoholic beverages increased on average by 2.2%, while prices of spirits and vine reduced by 2.6% and 0.5%, respectively. Prices of tobacco products rose on average by 0.3%.

Within the transport group the prices of fuel increased on average by 1.7%, of which prices of petrol – by 2.4%, and prices of diesel – by 0.9%. In its turn, purchase of vehicles became cheaper by 0.4%, while prices of driver’s courses fell by 0.7% and prices of parking services - by 0.5%.

Influenced by seasonal discounts and sales, prices by 3.7% dropped for footwear, by 2.3% - for clothing and by 0.6% - for clothing accessories.

Due to special offers, prices of non-durable household goods, individual care goods and pharmaceutical products decreased. Decrease was observed also in flower, data processing equipment and stationery prices, whereas prices of hotel services, insurance and rents increased.

Compared to February of previous year, consumer prices have increased by 3.4%. The average price level for goods increased by 4.2%, but for services - by 1.4%.

The annual average rate of change in February 2012 was 4.3%.


Consumer price change by commodity groups, %:

Commodity group

February 2011 -
February 2012

December 2011 -
February 2012

January 2012 -
February 2012

Total

3.4

1.0

0.1

Food

2.6

1.9

0.8

Alcoholic beverages and tobacco

5.5

-0.1

1.4

Clothing and footwear

0.7

-8.8

-2.6

Housing, water, electricity, gas and fuels

9.8

3.6

0.1

Furnishing, household equipment and operation

0.4

1.2

-0.5

Health care

-0.9

-0.5

-0.5

Transport

6.0

2.3

0.7

Communication

-1.9

-0.4

-0.1

Recreation and culture

-0.6

0.4

-0.4

Education

-2.0

0.4

0.0

Hotels and public catering

2.8

0.2

0.1

Miscellaneous goods and services

0.9

0.5

-1.0

 

Sub-indices with most important impacts:

January 2012 - February 2012

Impact (percentage points)

Vegetables

+0.19

Fuels

+0.11

Fruit

+0.09

Alcoholic beverages

+0.09

Milk, cheese and eggs

-0.05

Personal care products

-0.05

Footwear

-0.06

Clothing

-0.07

 

February 2011 - February 2012

Impact (percentage points)

Fuels

+0.74

Heat energy

+0.67

Electricity

+0.46

Meat and meat products

+0.31

Tobacco products

+0.31

Gas

+0.30

Non-alcoholic beverages

+0.19

Vegetables

-0.26

 

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