During the year, consumer prices have increased by 0.3%

08.08.2013

Compared to July 20121), the average level of consumer prices in July 2013 has increased by 0.3%; the prices of goods have risen by 0.4%, while the prices of services have grown by 0.1%. In comparison with the previous 12 months2), the average level of consumer prices during the last 12 months has gone up by 0.8%.

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

Within the food commodity group, increase was recorded in the prices of vegetables (+19.1%), fresh meat (+4.8%), fish and fish products (+4.1%), while the largest decrease was observed in the prices of eggs (-16.4%), tea and coffee (-7.1%).

Prices of alcoholic beverages have gone up by 3.1%, whereas tobacco prices – by 3.5%.

During the year, mainly due to the reduction in mobile telecommunication and Internet connection prices, the prices of communication services have dropped by 5.7%.

Largely because of the lower heat (decrease of 7.1%) and natural gas (of 6.5%) tariffs, also the prices of house maintenance services during the year have slightly reduced.

Notable growths among other consumption groups were recorded in the prices of pharmaceutical products, fuel for transport and individual care goods. Reduction was observed in the prices of footwear, motor cars, as well as spare parts and accessories for personal transport.

In comparison with the previous month, consumer prices in July have reduced by 0.3%; the prices of goods have decreased by 0.7%, while the prices of services have risen by 0.6%.

The greatest downward pressures on the consumer prices during the month were put by the drop in the prices of clothing and footwear, as well as food, while upward – by the rise in the prices of motor cars, services related to transport, as well as alcoholic beverages and tobacco.

Along with the continuance of the summer season sales, the prices of clothing have decreased by 6.4% and the prices of footwear have dropped by 8.5%.

Influenced by the seasonal factors, the prices of vegetables have diminished on average by 14.3%. Prices of bread and cereal products have reduced by 1.2%, and prices of tea and coffee have gone down by 2.9%. In comparison with June, rise was recorded in the prices of potatoes (+18.9%), milk and dairy products (+1.2%), and fresh meat (+0.6%).

Increase was observed also in the prices of fuel for transport (+1.4%), passenger sea transport services (+14.9%), and passenger air transport services (+2.5%).

Along with the end of sales campaigns, July came with higher prices of beer (rise of 5.7%) and spirits (of 1.1%).

Due to the changes in natural gas tariffs (revised twice a year - on January 1 and July 1), the prices of heat energy and natural gas have diminished. Whereas prices of sanatorium, package holiday and hotel services have gone up.

Consumer price changes by commodity group, %

 

Sub-indices having the greatest impacts, percentage points

Commodity group

Price changes in July 2013,

compared to

July 2012

December 2012

June 2013

Total

0.3

0.2

-0.3

Food

2.5

1.7

-1.0

Alcohol, tobacco

3.2

2.7

1.4

Clothing, footwear

-2.1

-4.8

-6.7

Housing

-1.2

-1.3

-0.4

Furnishing

0.3

1.3

0.8

Health

1.4

0.9

0.3

Transport

-1.2

-1.4

1.1

Communication

-5.7

-0.6

0.4

Recreation, culture

-0.6

0.3

0.0

Education

-1.1

-0.1

0.1

Hotels, restaurants

1.2

1.2

0.9

Miscellaneous

2.6

2.3

0.9

 

 

During a month

Beer

+0.11

Fuels for transport

+0.08

Non-durable household goods

+0.03

Bread and cereal products

-0.05

Heat energy

-0.07

Footwear

-0.15

Clothing

-0.23

Vegetables

-0.28

During 12 months

Vegetables

+0.42

Meat and meat products

+0.16

House maintenance services

+0.12

Tobacco

+0.10

Motor cars

-0.12

Footwear

-0.13

Telecommunication services

-0.22

Heat energy

-0.33

Information on Consumer Price Index in August 2013 will be published on September 9.

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

 

More information:
Consumer Price Indices Section
Nataļja Dubkova
Tel. 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; employed in Maastricht inflation criteria estimates.