During the year the average level of consumer prices decreased by 0.2%

09.11.2015

According to the latest data of the Central Statistical Bureau (CSB), compared to October 2014, the average consumer price level in October 2015declined by 0.2%. Prices of goods decreased by 1.1%, while prices of services grew by 2.3%. Compared to the previous 12 months, the average consumer price level over the last 12 months2, grew by 0.2%.

Changes of consumer prices in 2014 and 2015

(% over the corresponding month of the previous year)

Commodity group impact on Consumer Price Index during the last 12 months

(percentage points)

Data source: Central Statistical Bureau of Latvia

 

Compared to October 2014, the greatest pressure on the price changes in October 2015 was put by drop in prices of transport goods and services, food and non-alcoholic beverages, as well as by rise in prices of goods and services related to housing, alcoholic beverages and tobacco, restaurant and hotel services, goods and services related to health.

The average food price level in October 2015 as compared to the corresponding month of the previous year decreased by 0.3%. Milk and dairy products, fresh meat, cheese, sausages and smoked meat had the most significant lowering impact on the price level. In turn, growth was observed in prices of fruit, sugar, confectionery and honey, eggs.

The average price level of alcoholic beverages increased by 1.4%. Prices of tobacco rose by 1.3%.

During the year prices of goods and services related to housing increased by 1.3%. Growth was recorded in prices of electricity, maintenance charges in multi-occupied buildings; in turn, drop was observed in prices of heat energy and natural gas.

Prices of goods and services related to health increased on average by 1.5%. Outpatient services and pharmaceutical products became more expensive; in turn, hospital services became cheaper.

In transport group the average price level declined by 6.1%, which was significantly affected by drop of 18.4% in prices of fuels for transport. Decrease was recorded in prices of passenger transport by air, spare parts and accessories for personal transport equipment; in turn, increase was observed in services of passenger transport by railway and road, maintenance and repair services of personal transport equipment.

Compared to October of the previous year prices of catering services witnessed growth. Prices in cafés and restaurants increased by 3.0%, and in canteens - by 2.4%.

Among other commodity groups, the most significant decrease was recorded in prices of package holidays; in turn, growth was observed in prices of telecommunication services.

Compared to the previous month, consumer prices in October 2015 grew by 0.3%. Prices of goods increased by 0.6%, while prices of services declined by 0.4%.

The greatest pressure on the consumer price changes in October was put by growth in prices of food and non-alcoholic beverages, clothing and footwear, furnishings, as well as by drop in prices of transport goods and services, individual care goods and services.

Over the month prices of food grew by 0.9%. Growth of 12.7% in prices of vegetables had the most significant impact on the price level changes within the food group. Eggs, bread and cereals became more expensive. In turn, drop was observed in prices of sausages and smoked meat, fruit, cheese, milk and dairy products.

Growth in prices of clothing and footwear was affected by goods of the winter season entering the market. Prices of clothing increased by 6.8%, in turn prices of footwear decreased by 3.4%.

In October as compared to the previous month prices of non-durable household goods increased by 4.0%.

In transport group the average price level declined by 0.6%, which was mainly affected by drop of 1.8% in prices of fuels for transport. Services of passenger transport by air became cheaper; in turn, growth was recorded in prices of spare parts and accessories for personal transport equipment.

In October prices of individual care goods and services decreased by 0.9%.

Among other consumption groups, the most significant growth was recorded in prices of beer, solid fuel and tobacco. Package holidays, wine and spirits, hotel services became cheaper.

Consumer price changes by commodity group, %

Sub-indices having the greatest impact, percentage points

Commodity group

Price changes in October 2015, compared to

October

2014

December 2014

September

2015

Total

-0.2

0.7

0.3

Food

-0.3

-0.7

0.9

Alcohol, tobacco

1.4

3.1

-0.2

Clothing, footwear

-0.2

3.8

3.2

Housing

1.3

1.8

0.0

Furnishings

1.1

1.3

1.3

Health

1.5

0.7

-0.1

Transport

-6.1

-1.9

-0.6

Communication

1.3

1.6

0.0

Recreation, culture

0.2

0.4

0.0

Education

1.5

1.6

0.0

Hotels, restaurants

2.6

2.6

-0.4

Miscellaneous

1.0

0.4

-0.9

 

During the month

Clothing

+0.25

Vegetables

+0.22

Non-durable household goods

+0.05

Eggs

+0.05

Individual care goods

-0.04

Package holidays

-0.06

Footwear

-0.06

Fuels for transport

-0.10

 

During 12 months

Electricity

+0.88

Services of passenger transport by road

+0.21

Beer

+0.15

Fruit

+0.11

Milk and dairy products

-0.12

Gas

-0.12

Heat energy

-0.58

Fuels for transport

-1.14

 
Information on Consumer Price Index in November 2015 will be published on December 8.

More detailed information on consumer price changes is available in the CSB database section Consumer Prices.

 

1 The annual measure of inflation. The annual measure of inflation that is used to compare the average monthly price level with the average price level in the corresponding month of the previous year.
2 The average annual measure of inflation. The average annual measure of inflation that is used to compare the average price level of the last 12 months with the average price level in 12 months of the previous year.

 

 

More information:
Consumer Price Indices Section
Nataļja Dubkova
Tel. +371 67366644