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Consumer prices in Latvia up 0.7% m-o-m in October
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    Consumer prices in Latvia up 0.7% m-o-m in October

    RIGA, Nov 8 (LETA) - The average level of consumer prices in Latvia in October this year increased 0.7 percent compared to September and also grew 2.8 percent compared to October 2016, the Central Statistical Bureau said.

    The average 12-month inflation compared to the previous 12-month period was 2.8 percent in October 2017.

    Compared to September 2017, in October 2017 the average level of consumer prices went up by 0.7 percent. Prices of goods grew by 1.1 percent, while prices of services fell by 0.4 percent.

    In October, the greatest pressure on the consumer price changes was put by the growth in prices of clothing and footwear, prices of food and non-alcoholic beverages, and prices of goods and services related to transport.

    Month-on-month, prices of food and non-alcoholic beverages rose by 1 percent. Increase was observed in prices of fresh vegetables, bread, butter, milk, poultry, and dried, salted or smoked meat. Decline, in tis turn, was recorded in prices of cheese and curd, bakery products, as well as meat products.

    As the goods of the winter season kept entering the market, prices of garments grew by 4.4 percent and prices of footwear by 4.9 percent.

    Prices of goods and services related to transport increased by 0.9 percent, which was mainly influenced by the rise in prices of fuels for transport (by 2.2 percent) as well as spare parts and accessories for personal transport equipment. Prices of passenger transport by air, in its turn, went down.

    Among other commodity groups, the most notable growth was recorded in prices of articles for personal hygiene and beauty products, motor vehicle insurance, household cleaning and maintenance products, tobacco products, and pet food. Drop, in turn, was observed in prices of package holidays as well as hotel services.

    Compared to October 2016, in October 2017 the greatest pressure on the price changes was put by the rise in prices of food and non-alcoholic beverages, prices in miscellaneous goods and services group, prices of goods and services related to transport, goods and services related to housing, health care, and prices in recreation and culture group.

    The average level of food and non-alcoholic beverage prices increased by 5.3 percent. Rise was recorded in prices of milk, milk products, butter, cheese and curd, yoghurt, meat and meat products, fresh fruit, fresh vegetables, eggs, olive oil, potatoes, chocolate, coffee and bakery products. Reduction, in turn, was observed in prices of sugar and pasta products.

    Prices of goods and services related to housing grew by 1.9 percent. Increase was observed in prices of heat energy, natural gas, solid fuels, refuse collection, as well as services for the maintenance and repair of the dwelling, whereas decline was recorded in prices of materials for the maintenance and repair of the dwelling.

    Within the health care group, the average level of prices went up by 3.3 percent, which was mainly influenced by the rise in prices of pharmaceutical products, dental services, and prices in medical specialist practice.

    Prices of goods and services related to transport increased by 2.2 percent, which was affected by the rise in prices of fuels for transport (by 5.6 percent). Growth was recorded also in prices of maintenance and repair of personal transport equipment. Prices of passenger transport by air, in its turn, went down.

    Within the recreation and culture group, the average level of prices grew by 2.2 percent, which was because of the influence exerted by the rise in prices of package holidays, fiction books, newspapers and magazines.

    Within the miscellaneous goods and services group, the average level of prices grew by 7.6 percent, which was mostly due to the rise in prices of motor vehicle insurance. Increase was registered also in prices of articles for personal hygiene and beauty products.

    Among other commodity groups, the most significant growth was recorded in prices of tobacco products, telecommunication services, and catering services. Decline, in turn, was observed in prices of garments, household cleaning and maintenance products, and spirits.

    As reported, the average level of consumer prices in September this year grew 0.3 percent compared to August and increased 2.9 percent compared to September 2016. The average 12-month inflation compared to the previous 12-month period was 2.7 percent in September 2017.

    • Published: 08.11.2017 13:43
    • LETA
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