Consumer price level in January 2008

08.02.2008

Compared to December 2007, the average consumer price level in January 2008 rose by 2.8%. Prices of goods increased by 2.7%, but prices of services – by 3.4%.

In January the price growth of cigarettes, transport, food products, as well as the price decrease of clothing and footwear had the greatest impact on the consumer price changes.

Due to excise tax change, the prices of tobacco products grew by 38.1%.

The prices of dairy products on average increased by 6.1%, cheese – by 4.1%, oils and fats - by 9.0% and cereal products – by 5.6%. The price of automotive fuel increased by 5.0%. In January increased the prices of land transport services (7.5%), out-patient services (11.3%) as well.

With the seasonal sales, the prices of wearing apparel decreased on average by 7.1%, but prices of footwear – by 6.4%.

Compared to the January of previous year, the consumer prices have increased by 15.8%, of which prices for goods increased by 15.1%, but for services – by 17.5%.

Average price changes in the last 12 months compared to the previous 12 months increased by 10.8%.

In 2008 the Consumer Price Index (CPI) basket is revised and updated. The weights used in the calculations of the index reflect household expenditure pattern from 4th quarter 2006. until 3rd quarter of 2007 (including).

In 2008 for the calculation of CPI each month in 2.3 thsd outlets all around the country approximately 19000 prices of 458 goods and services are collected.

Consumer price change by commodity groups, %:

Commodity group

Weight, %

January 2007 -
January 2008

December 2007 -January 2008

Total

100.0

15.8

2.8

Food

24.0

20.6

2.9

Alcoholic beverages and tobacco

7.1

39.1

16.5

Clothing and footwear

7.4

-0.5

-6.5

Housing, water, electricity, gas and fuels

12.2

19.7

1.1

Furnishing, household equipment and operation

5.5

4.9

1.3

Health care

4.4

12.3

4.5

Transport

13.9

15.5

3.2

Communication

4.6

-3.0

3.9

Recreation and culture

9.0

8.0

2.1

Education

1.3

19.9

1.3

Hotels and public catering

5.5

21.2

2.7

Miscellaneous goods and services

5.0

12.9

1.8

For further information:

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