During the year, consumer prices have dropped by 0.4%

09.12.2013

Compared to November 20121, average level of consumer prices in November 2013 reduced by 0.4%; prices of goods decreased by 1.0%, while prices of services rose by 1.0%. In comparison with the previous 12 months2, average level of consumer prices during the last 12 months increased by 0.1%.

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 November 2012, the greatest pressure on the price changes in November 2013 was put by the reduction in prices of fuel and food, as well as slight rise in the prices of services.

Mainly because of discounts, prices of food during the year diminished by 0.9%. Small reduction was recorded in the prices of tea and coffee (-10.4%), bread and cereal products (-2.7%), fruit (-6.5%), meat and meat products (-1.3%), while increase was observed in the prices of vegetables (+5.4%) as well as milk, cheese and eggs (+1.5%).

Fuel prices went down by 4.2%.

Within the housing group, price level was affected by lower heat (-6.5%) and gas (-5.1%) tariffs. Increase was recorded also in the prices of house maintenance services (of 7.6%) and solid fuels (of 7.1%).

During the year, due to the reduction in mobile telecommunication and Internet service prices, the prices of communication services diminished by 2.2%.

Prices of hairdresser as well as other individual care services grew by 5.0%. Price rise witnessed also catering services (+1.5%) and hotel services (+4.2%).

In comparison with the previous month, consumer prices in November reduced by 0.5%; average price level of goods declined by 0.5%, whereas of services – by 0.3%.

The greatest downward pressure on the price changes was put by the reduction in food, alcoholic beverage and tobacco prices, prices of transport goods and services as well as prices of clothing and footwear.

Under the influence of sales campaigns, average level of food prices went down by 0.8%. Prices of bread dropped by 2.9%, of tea and coffee – of 3.6%, of meat and meat products – by 0.6% and of eggs – by 5.4%.  Increase was observed in prices of oils and fats (of 0.6%), whereas, due to seasonal factors, vegetable prices grew by 2.1% and prices of potatoes went up by 5.0%. Drop in the beer prices (of 4.3%) was caused by the start of sales campaigns.

Prices of fuel for transport on average reduced by 0.7%. Prices of petrol and diesel fell by 0.9%, while prices of liquid petroleum gas rose by 3.9%.

Because of autumn–winter season sales, prices of footwear declined by 2.2%.

Within other consumption groups, increase were recorded in prices of non-durable household goods (+2.6%), solid fuels (+0.8%), maintenance and repair of the dwelling (+1.9%), hairdresser (+0.3%), and hotel (+1.4%) services. Whereas reduction was observed in prices of package holidays (-6.7%).

Consumer price changes by commodity group, %

 

Sub-indices having the greatest impacts, percentage points

Commodity group

Price changes in November 2013, compared to

November 2012

December2012

October 2013

Total

-0.4

-0.5

-0.5

Food

-0.9

-1.4

-0.8

Alcohol, tobacco

0.0

0.2

-1.3

Clothing, footwear

0.4

1.9

-0.9

Housing

-0.5

-0.5

0.1

Furnishings

1.3

1.8

0.5

Health

1.0

1.0

-0.4

Transport

-2.3

-2.7

-0.5

Communication

-2.2

-2.2

0.0

Recreation, culture

-0.5

-0.6

-0.4

Education

0.2

0.2

0.1

Hotels, restaurants

1.6

1.5

0.1

Miscellaneous

2.3

2.7

-0.6

 

During a month

Vegetables

+0.04

Non-durable household goods

+0.03

Services for the maintenance and repair of the dwelling

+0.01

Footwear

-0.04

Milk, cheese and eggs

-0.05

Package holidays

-0.05

Bread and cereal products

-0.07

Beer

-0.08

During 12 months

Maintenance charges in multi-occupied buildings

+0.13

Vegetables

+0.10

Cafes and restaurants

+0.09

Solid fuels

+0.08

Tea, coffee

-0.12

Beer

-0.15

Fuels for transport

-0.26

Heat energy

-0.29

Information on Consumer Price Index in December 2013 will be published on 13 January 2014.

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

 

More information:
Consumer Price Indices Section
Dāvis Liberts
Tel. +371 67366867

 


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.