During the year the average level of consumer prices decreased by 0.5%

08.10.2015

According to the latest data of the Central Statistical Bureau (CSB), compared to September 2014, the average consumer price level in September 2015declined by 0.5%. Prices of goods decreased by 1.7%, while prices of services grew by 2.5%. Compared to the previous 12 months, the average consumer price level over the last 12 months2, grew by 0.3%.

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

 

The greatest pressure on the average level of consumer prices in September 2015, as compared to September 2014, was put by increase in prices of goods and services related to housing, alcoholic beverages and tobacco, individual care goods and services, restaurant and hotel services, as well as by drop in prices of transport goods and services, food and non-alcoholic beverages, clothing and footwear.

The average food price level in September 2015 as compared to the corresponding month of the previous year decreased by 1.5%. Milk, cheese and eggs, vegetables, bread and cereals, meat and meat products had the most significant lowering impact on the price level. In turn, growth was observed in prices of fruit, confectionery and honey.

The average price level of alcoholic beverages grew by 2.0%, which was significantly affected by increase in prices of beer and spirits. Prices of tobacco rose by 0.6%.

Prices of clothing during the year decreased by 3.9%, and prices of footwear - by 0.8%.

During the year prices of goods and services related to housing increased by 1.6%. Growth was recorded in prices of electricity, maintenance charges in multi-occupied buildings; in turn, drop was observed in prices of heat energy, natural gas and solid fuel.

In transport group the average price level declined by 5.8%, which was significantly affected by drop of 18.0% 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, parking services.

Compared to September of the previous year prices of restaurant and hotel services witnessed growth. Prices in cafés and restaurants increased by 2.9%, and in canteens - by 2.4%.

Prices of individual care goods and services increased by 2.5% during the year. Growth was recorded in prices of hairdressing salons and personal grooming establishments, financial services.

Among other consumption groups, the most significant growth was recorded in prices of telecommunication services, pharmaceutical products; in turn, decrease was observed in prices of hospital services and package holidays.

Compared to the previous month, consumer prices in September 2015 decreased by 0.1%. Prices of goods decreased by 0.2%, while prices of services grew by 0.1%.

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

Prices of food decreased on average by 0.6%. Affected by seasonal factors prices of fruit decreased by 3.6%, with the most significant drop recorded in prices of apples, pears, grapes. Prices of potatoes decreased by 14.7%. Fresh meat, milk and dairy products, bread and cereals, eggs became cheaper. In turn, growth was recorded in prices of vegetables, sausages and smoked meat, sugar, cheese, juices and soft drinks.

With the goods of the new season entering the market, prices of clothing grew by 3.3% and prices of footwear - by 9.2%.

In September prices of heat energy decreased on average by 1.2%. Decline was observed in prices of actual rentals for housing, solid fuel.

In transport group the average price level declined by 2.0%, which was mainly affected by drop of 4.8% in prices of fuels for transport. Prices of services of passenger transport by air and sea became cheaper.

In September prices of individual care goods and services increased by 1.9%.

Among other consumption groups, the most significant drop was recorded in prices of non-durable household goods, food for pets, package holidays. In turn, growth was observed in prices of internet services; with the beginning of a new academic year, increase was also recorded in prices of educational services.

Consumer price changes by commodity group, %

Sub-indices having the greatest impact, percentage points

Commodity group

Price changes in September 2015, compared to:

September

2014

December 2014

August

2015

Total

-0.5

0.4

-0.1

Food

-1.5

-1.6

-0.6

Alcohol, tobacco

2.0

3.3

0.0

Clothing, footwear

-2.4

0.6

4.8

Housing

1.6

1.8

-0.4

Furnishings

0.0

-0.1

-0.8

Health

1.3

0.8

-0.1

Transport

-5.8

-1.4

-2.0

Communication

1.5

1.6

0.8

Recreation, culture

-0.3

0.4

-0.3

Education

1.5

1.6

1.6

Hotels, restaurants

2.6

3.0

-0.2

Miscellaneous

2.5

1.4

1.9

 

During the month

Footwear

+0.15

Clothing

+0.12

Individual care goods

+0.08

Fresh meat

-0.04

Potatoes

-0.04

Heat energy

-0.05

Fruit

-0.06

Fuels for transport

-0.27

 

 

During 12 months

Electricity

+0.87

Services of passenger transport by road

+0.19

Beer

+0.13

Vegetables

-0.14

Clothing

-0.15

Milk, cheese, eggs

-0.25

Heat energy

-0.53

Fuels for transport

-1.12

 
Information on Consumer Price Index in October 2015 will be published on November 9.

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