Consumer price level in November 2008

08.12.2008

Compared to October 2008, the average consumer price level in November 2008 decreased by 0.4%. The average prices of goods decreased by 0.6%, but prices of services rose by 0.2%.

Price decrease of fuel, vegetables and footwear, as well as price increase of heat energy had the greatest impact on consumer price changes in November.

Prices of fuel during November on average decreased by 12.8%, yielding 0.6 percentage points downward impact on total price change. Part of food, particularly vegetables (-4.5%), fruit (-1.1%), cheese (-3.3%), non-alcoholic beverages (-1.3%) as well as tobacco products (-0.5%) became cheaper. Seasonal sales influenced the price decrease of footwear (-2.5%) and wearing apparel (-0.5%).

Major upward impact came from heat energy, which prices on average grew by 6.0%. Slight price increase was recorded for passenger transport by road, recreational, sports, catering, out-patient and social protection services, package holidays, non-durable household goods, equipment for sport and recreation, furniture and floor coverings, glassware, pharmaceutical and medical goods as well as of individual care goods.

Prices slightly went down for non-social rents, maintenance and repair of the dwelling, insurance and hotel services as well as purchase of motor cars and airline tickets. Due to discounts prices of major household appliances, household textiles, toys, bicycles, spare parts for cars, mobile phones, TV, audio, video and photo equipment and other personal effects decreased.

Compared to November of previous year, consumer prices have increased by 11.8%, of which prices for goods increased by 11.0%, but for services – by 14.0%.

The annual average rate of change in November 2008 was 15.7%.

Commondity group

November 2007 – November 2008

December 2007 –November 2008

October 2008 – November 2008

Total

11.8

11.1

-0.4

Food

11.6

9.7

0.2

Alcoholic beverages and tobacco

28.8

27.9

-0.2

Clothing and footwear

-2.1

1.3

-1.0

Housing, water, electricity, gas and fuels

32.4

31.1

1.6

Furnishing, household equipment and operation

4.2

4.2

0.4

Health care

12.5

12.0

0.5

Transport

2.0

1.4

-4.7

Communication

-5.3

-3.9

0.0

Recreation and culture

7.6

5.9

0.2

Education

22.6

22.6

0.1

Hotels and public catering

16.3

15.2

0.0

Miscellaneous goods and services

9.6

9.0

0.6


For further information:

Consumer Price Indices Section
Central Statistical Bureau of Latvia

Oskars Alksnis +371 67366865