During the year, average level of consumer prices has not changed

08.11.2013

Compared to October 20121, average level of consumer prices in October 2013 has not changed; prices of goods have reduced by 0.4%, while prices of services have risen by 1.0%. In comparison with the previous 12 months2, average level of consumer prices during the last 12 months has increased by 0.3%.

Changes in consumer prices in 2012 and 2013

(% over corresponding month of the previous year)

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

(percentage points)

Data source: Central Statistical Bureau of Latvia

Data source: Central Statistical Bureau of Latvia

As compared to the October 2012, the greatest upward pressures on the price changes in October 2013 were put by the rise in prices of food, alcoholic beverages and tobacco, whereas drop in the prices of transport goods and services as well as goods and services related to house maintenance had the most significant downward impact.

During the 12 months, prices of food rose by 0.6%. The highest rise was recorded in the prices of milk and dairy products (+5.1%), fresh meat (+2.0%), bread and cereal products (+1.2%), and cheese (+4.9%), while the most notable reduction was observed in the prices of fruit (-6.3%), tea and coffee (-8.5%), eggs (-9.6%), as well as sugar (-3.9%).

Prices of alcoholic beverages went up by 2.6%, whereas tobacco prices – by 3.1%.

Main falls in the transport group were recorded in the prices of fuels for transport (-7.1%) and in the prices of motor cars (-1.8%).

Because of the decline in the prices of heat energy (of 7.4%) and gas (of 5.1%) and due to the rise in the prices of housing maintenance services (of 7.6%) and solid fuels (of 6.6%), price reduction within the housing group comprised on average 0.8%.

The most notable increases among other consumption groups were observed in the prices of services in cafés and restaurants as well as in the prices of individual care goods. Whereas prices of telecommunication services as well as audio, video, photo, and data processing equipment reduced.

In comparison with the previous month, consumer prices in October have grown by 0.3%; average price level of goods has risen by 0.4%, while of services – by 0.2%.

The greatest upward pressure on the price changes in October was put by the growth of clothing and footwear as well as food prices, while the strongest downward pressure was applied by the prices of transport goods and services.

Growth in the prices of food was stimulated by the seasonal increase in vegetable prices of 21.9%. Prices of milk and dairy products went up by 1.3%, of bread – by 1.3%, and of meat and meat products – by 0.3%. While prices of fruit dropped by 4.7%, of potatoes – by 12.7%, of tea and coffee – by 2.6%, and of oils and fats – by 1.3%.

Increase in the prices of clothing and footwear was caused by the trade in goods of new season, and as a result prices of footwear rose by 6.2%, while prices of clothing – by 2.2%.

Rise was recorded also in the prices of recreational and sports services (+1.7%), catering services (+1.3%), rent (+1.2%), and insurance (+0.3%); moreover, 0.4% growth was observed in the prices of services for the maintenance and repair of the dwelling, outpatient services, and maintenance and repair of personal transport equipment.

Prices of fuel fell down on average by 2.9%, of which prices of petrol reduced by 3.3% and prices of diesel – by 2.8%.

The most notable rise among other consumption groups was recorded in the prices of solid fuels and books; whereas decrease was observed in the prices of beer, package holidays, accommodation services and ferry tickets.

Consumer price changes by commodity group, %

 

Sub-indices having the greatest impacts, percentage points

Commodity group

Price changes in October 2013, compared to

October
2012

December
2012

September
2013

Total

0.0

0.0

0.3

Food

0.6

-0.6

0.8

Alcohol, tobacco

2.6

1.5

-0.6

Clothing, footwear

1.3

2.9

3.4

Housing

-0.8

-0.6

0.4

Furnishings

1.2

1.3

0.3

Health

1.6

1.4

0.2

Transport

-3.6

-2.2

-0.9

Communication

-3.5

-2.2

-0.4

Recreation, culture

-0.4

-0.2

-0.2

Education

0.1

0.1

0.0

Hotels, restaurants

1.6

1.4

1.0

Miscellaneous

2.7

3.3

0.4

 

 

During a month

Vegetables

+0.21

Footwear

+0.11

Clothing

+0.08

Solid fuels

+0.06

Milk and dairy products

+0.04

Beer

-0.03

Fruit

-0.07

Fuels for transport

-0.17

 

During 12 months

Milk and dairy products

+0.15

Maintenance charges in multi-occupied buildings

+0.13

Cafes and restaurants

+0.09

Tobacco

+0.09

Fruit

-0.10

Telecommunication services

-0.13

Heat energy

-0.34

Fuels for transport

-0.45

Information on Consumer Price Index in November 2013 will be published on December 9.

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

 

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



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