During the year, consumer prices have reduced by 0.4%

08.10.2013

Compared to September 20121), the average level of consumer price in September 2013 has dropped by 0.4%; prices of goods have reduced by 0.6%, while prices of services have risen by 0.2%. In comparison with the previous 12 months2), the average level of consumer prices during the last 12 months has increased by 0.4%.

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

In comparison with September 2012, reduction in the prices of energy resources (incl. fuels for transport, heat energy and natural gas) as well as telecommunication services, which all have notable share in the household consumption expenditure, had the most notable downward impact on the average level of consumer prices in September 2013.

Transport group indicates a drop in the prices of fuels for transport (-6.6%) and motor cars (-3.6%).

Due to the reduction in mobile telecommunication and Internet service prices, the prices of communication services diminished by 6.7%.

During the year, increase was recorded in the prices of food products, goods and services related to health, furnishings, as well as catering and accommodation services.

Prices of food products during the 12 months rose by 1.1%. The most notable growth was recorded in the prices of potatoes (+10.8%), vegetables (+6.0%), milk and dairy products (+4.3%), cheese (+4.2%), and meat (+2.3%).

Prices of alcoholic beverages went up by 1.9%, whereas tobacco prices increased by 3.8%.

The most notable increases among other consumption groups were observed in the prices of individual care goods and pharmaceutical products. Also prices of newspapers and books went up.

In comparison with the previous month, consumer prices in September have grown by 0.3%; average price level of goods has risen by 0.5%, whereas prices of services have diminished by 0.2%.

The greatest upward pressures on the price changes in September were put by the rise in prices of clothing and footwear, while the strongest downward pressures were applied by the drop in prices of food products.

Prices of vegetables diminished on average by 5.5% and prices of fruit – by 6.0%. As compared to August, rise was observed in the prices of fresh meat (+2.4%), milk and dairy products (+0.8%), cheese (+2.4%), fish (+3.3%), and eggs (+2.6%).

Due to the end of sales and as goods of the new season entered the market, prices of clothing grew by 2.4% and prices of footwear rose by 13.0%.

Reduction was observed in the prices of passenger air transport (-5.9%) and fuels for transport (-0.1%), while increase was recorded in the prices of motor cars (+0.3%).

Along with the beginning of the new school year, prices of education services increased on average by 0.1%.

Rises among other consumption groups were recorded in the prices of individual care goods and services (+1.4%) and services in cafés and restaurants (+1.0%). Prices of package holidays reduced (-6.2%), as well as prices of accommodation services (-7.3%), and sanatorium services (-14.6%).

Consumer price changes by commodity group, %

 

Sub-indices having the greatest impacts, percentage points

Commodity group

Price changes in September 2013, compared to

September  2012

December 2012

August 2013

Total

-0.4

-0.4

0.3

Food

1.1

-1.4

-0.3

Alcohol, tobacco

2.6

2.1

0.1

Clothing, footwear

0.3

-0.5

5.6

Housing

-1.2

-1.0

0.2

Furnishings

1.0

1.0

0.0

Health

1.4

1.3

0.0

Transport

-4.1

-1.3

-0.2

Communication

-6.7

-1.8

-0.1

Recreation, culture

-0.8

-0.1

-0.3

Education

0.2

0.1

0.1

Hotels, restaurants

0.6

0.4

-0.3

Miscellaneous

2.3

2.9

1.4

 

During a month

Footwear

+0.21

Clothing

+0.08

Milk, cheese and eggs

+0.06

Spirits

+0.04

Meat and meat products

+0.04

Beer

-0.04

Package holidays

-0.05

Fruit

-0.10

Vegetables

-0.10

 

During 12 months

House maintenance services

+0.12

Tobacco

+0.11

Milk, cheese and eggs

+0.09

Meat and meat products

+0.08

Motor cars

-0.08

Telecommunication services

-0.26

Heat energy

-0.34

Fuels for transport

-0.43

Information on Consumer Price Index in October 2013 will be published on November 8.

More detailed information 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.