During the year the average level of consumer prices increased by 0.9%

08.12.2014

According to the latest data of the Central Statistical Bureau (CSB), compared to November 20131, the average consumer price level in November 2014, rose by 0.9%. Prices of goods did not change, while prices of services grew by 3.1%. Compared to the previous 12 months, the average consumer price level over the last 12 months2, increased by 0.6%.

Changes in consumer prices in 2013 and 2014

(% over the 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

 

Compared to November 2013, the greatest pressure on the price changes in November 2014 was put by the rise in prices of alcoholic beverages and tobacco, hotel and restaurant services, services and goods related to housing, as well as by drop in the prices of transport goods and services.

The average food price level in November 2014 as compared to the corresponding month of the previous year increased by 0.1%. Growth was observed in the prices of tea and coffee, vegetables, bread and cereals, confectionery and honey, as well as fruit. Lower prices than in the previous year were recorded for milk and dairy products, meat and meat products, sugar, oils and fats, potatoes.

Prices of tobacco rose by 9.3%. Average price level of alcoholic beverages increased by 1.8% which was affected by price rise on beer and spirits. On the contrary wine became cheaper.

During the year prices of goods and services related to housing increased by 1.1%. It was due to the price growth for maintenance charges in multi-occupied buildings, water supply, sewage collection, maintenance and repair of the dwelling, actual rentals for housing, solid fuel.

In transport group prices declined by 2.2%, which was significantly affected by price drop of fuels for transport of 5.2%. A decrease was also recorded in the prices of spare parts and accessories for transport vehicles. Growth was observed in the prices of maintenance and repair of personal transport equipment and of passenger transport by sea.

Compared to November 2013, prices of hotel and restaurant services increased by 4.5%. Prices in cafés and restaurants increased by 4.8%, in canteens – by 4.4%, and for accommodation services ­– by 2.8%.

Among other commodity groups most significant growth was recorded in prices of cultural services, clothing, individual care goods and dental services.

Compared to the previous month, consumer prices in November 2014 decreased by 0.3%. Prices for goods have decreased by 0.3%, while prices for services – by 0.1%.

The greatest pressure on the consumer prices during the month was put by drop in the prices of transport goods and services, alcoholic beverages and tobacco, goods and services related to housing, clothing and footwear, as well as by growth in the prices of food and individual care goods and services.

Prices of food increased by 0.5%, which was significantly affected by the end of discounts for milk and dairy products (+2.2%). Due to seasonal factors, vegetables (+4.1%) and fruit (+2.9%) became more expensive. Prices of sugar, confectionery and honey, oils and fats, eggs, bread and cereals, as well as of fish and fish products increased. Prices decreased for meat and meat products, cheese.

Compared to October, prices of alcoholic beverages decreased by 1.4%, which was affected by discounts for wine and spirits. Prices of beer rose by 0.7%, of tobacco –by 0.3%.

The prices for footwear dropped by 1.8% and for clothing – by 0.2%.

Prices of heat energy, as compared to October, reduced by 0.4%. Refuse collection, actual rentals for housing became cheaper, but prices of maintenance and repair of the dwelling increased.

In transport group prices declined by 1.9%, which was affected by price drop of 3.8% for fuels for transport. Passenger transport by sea became cheaper.

Influenced by the end of the sales campaigns, individual care goods became more expensive.

Among other commodity groups drop was recorded in prices of package holidays and household textiles. But prices went up for cultural services.

Consumer price changes by commodity group, %

 

Sub-indices having the greatest impact, percentage points

Commodity group

Price changes in November 2014, compared to

November

2013

December 2013

October 2014

Total

0.9

0.8

-0.3

Food

0.1

-0.7

0.5

Alcohol, tobacco

4.3

4.1

-0.8

Clothing, footwear

1.0

3.3

-0.7

Housing

1.1

1.6

-0.3

Furnishings

0.9

2.5

-0.2

Health

1.6

1.5

0.5

Transport

-2.2

-2.9

-1.9

Communication

-0.7

-0.7

-0.1

Recreation, culture

1.8

1.4

-0.4

Education

1.5

1.5

0.0

Hotels, restaurants

4.5

4.6

0.2

Miscellaneous

2.3

2.4

0.9

 

 

During the month

Milk and dairy products

+0.06

Vegetables

+0.05

Cultural services

+0.05

Fruit

+0.04

Wine

-0.05

Package holidays

-0.08

Meat and meat products

-0.08

Fuels for transport

-0.22

 

During 12 months

Tobacco

+0.26

Cultural services

+0.13

Cafés and restaurants

+0.11

Beer

+0.11

Maintenance charges in multi-occupied buildings

+0.10

Meat and meat products

-0.11

Milk and dairy products

-0.14

Fuels for transport

-0.32

 
Information on Consumer Price Index in December 2014 will be published on 13 January 2015.

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

 

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