During the year consumer prices rose by 0.6%

09.06.2014

Compared to May 2013, the average consumer price level in May 20141 rose by 0.6%. Prices of goods decreased by 0.1%, while prices of services grew by 2.6%. Compared to the previous 12 months, the average consumer price level over the last 12 months2 increased by 0.1%.

Changes in consumer prices in 2013 and 2014

(% over corresponding month of the previous year)

Commodity group impact on Consumer Price Index

 over the last 12 months

(percentage points)

The greatest pressure on the average level of consumer prices in May 2014, as compared to May 2013, was put by the increase in prices of hotel and restaurant services, individual care goods and services, clothing and footwear, recreational and cultural goods and activities, as well as by the price drop for food and communication services.

The average price level of food in May 2014 as compared to the corresponding month of the previous year decreased by 0.5%. The greatest pressure on the price drop was put by prices of vegetables which in May 2013 witnessed a significant price growth. A drop was also recorded in prices of tea and coffee, fruit, sugar and eggs. In turn, the most significant price growth was recorded for milk and dairy products, bread and cereals and cheese.

Prices of clothing dropped by 1.1%, while prices of footwear grew by 8.3%.

During the year prices of communication services decreased by 2.6% due to drop in the prices of wireless telephone services and internet access provision services.

Compared to May 2013, prices of hotel and restaurant services rose by 4.3%, as prices in cafés and restaurants grew by 5.1%, in canteens – by 2.8%, and prices of accommodation services – by 6.9%.

Prices of hairdresser services grew on average by 6.2%, and prices of individual care goods –by 1.0%.

Among other consumption groups the largest price increase was recorded for maintenance charges in multi-occupied buildings, while prices of heat energy decreased.

As compared to the previous month, consumer prices in May 2014 dropped by 0.1%. The average price level of goods declined by 0.2%, whereas the average price level of services rose by 0.2%.

The greatest pressures on the consumer prices during the month were put by drop in prices of food, recreational and cultural goods and activities, and by growth in prices of clothing and footwear, as well as of hotel and restaurant services.

The price drop of food by 0.7% can be explained with seasonal factors regarding, mainly vegetables and fruit, as well as with the influence of sales campaigns on the average price level of other food and non-alcoholic beverages.

The greatest pressure on the price drop in this group was put by milk, cheese and eggs (-1.1%), meat and meat products (-0.8%), fruit (-1.8%), juices and soft drinks (-2.8%), sugar (-8.2%).

With new season collections entering the market, similarly to the last year when prices of clothing and footwear increased by 0.6%, in May 2014 this product group also witnessed a growth (+2.5%). Prices of both – clothing and footwear increased by 2.9%.

Prices of recreational and cultural goods and activities decreased on average by 0.4%. Price drop was recorded for prices of products for pets, garden products and flowers, while price growth – for package holidays.

Increase was registered in the prices of accommodation services, as well as of catering services: in cafés and restaurants – of 0.4% and in canteens – of 0.3%.

Among other consumption groups, drop was recorded in prices of beer, non-durable household goods, motor spare parts and accessories for personal transport equipment, solid fuel and individual care goods. In its turn, price rise was recorded for tobacco.

Consumer price changes by commodity group, %

 

Sub-indices having the greatest impacts, percentage points

Commodity group

Price changes in May 2014, compared to:

May

2013

December 2013

April 2014

Total

0.6

1.3

-0.1

Food

-0.5

1.5

-0.7

Alcohol, tobacco

1.2

3.1

0.3

Clothing, footwear

2.1

6.7

2.5

Housing

0.5

0.5

0.0

Furnishings

0.1

0.8

-0.7

Health

0.6

0.1

0.1

Transport

0.4

-0.1

-0.1

Communication

-2.6

-0.7

0.0

Recreation, culture

1.5

1.2

-0.4

Education

0.1

-0.1

0.0

Hotels, restaurants

4.3

3.0

0.9

Miscellaneous

2.7

0.6

-0.5

 

 

During a month

Clothing

+0.10

Tobacco

+0.06

Footwear

+0.06

Accommodation services

+0.02

Fruit

-0.03

Beer

-0.03

Meat and meat products

-0.05

Milk, cheese, eggs

-0.05

 

During 12 months

Milk and dairy products

+0.26

Footwear

+0.14

Tobacco

+0.14

Cafés and restaurants

+0.11

Maintenance charges in multi-occupied buildings

+0.11

Tea, coffee

-0.11

Vegetables

-0.21

Heat energy

-0.21

 
Information on Consumer Price Index in June 2014 will be published on July 8.

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

 

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.