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Latvia records 2.2% inflation in January
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    News

    Latvia records 2.2% inflation in January

    RIGA, Feb 11 (LETA) - In January 2020, Latvian consumer prices rose 0.4 percent against December 2019, while annual inflation (January 2020 against January 2019) was 2.2 percent, according to the data released today by the Central Statistical Bureau (CSB).

    During the last 12 months, consumer prices rose 2.7 percent against the previous 12-month period.

    In January 2020, prices on goods and services went up 0.4 percent against December 2019. Compared to January 2019, prices climbed percent on goods and increased 2.7 percent on services.

    Rising prices of food and non-alcoholic beverages, goods and services related to transport, alcoholic beverages and tobacco products, miscellaneous goods and services, health care, as well as drop in prices of clothing and footwear had the most significant effect on monthly price changes in January.

    Over the month prices of food and non-alcoholic beverages grew by 1.6 percent. Prices of fresh vegetable (rise of 5.7 percent) and fresh fruit (5.1 percent) had the strongest upward influence on the average price level within the group. Rise was registered in prices of poultry (of 4.6 percent), pork (2.5 percent), as well as dried, salted or smoked meat (0.6 percent). Upturn was also recorded in prices of chocolate (of 6.8 percent), coffee (3.7 percent), fresh or chilled fish (7.8 percent), pasta products (5.1 percent), butter (3 percent) and sugar (3.5 percent). Reduction was registered in prices of curd (of 3.7 percent) and olive oil (6.5 percent).

    The average price level of alcoholic beverages rose by 0.7 percent, which was mainly affected by growth in prices of spirits and wine. The average price level of tobacco products increased by 2 percent.

    Affected by discounts and sales, prices of clothing dropped by 9.4 percent, but prices of footwear – by 8.6 percent.

    Prices within the health care group rose by 1.4 percent. Prices of general practitioner services increased, that was affected by the rise of patient co-payment for a family doctor services as of January 1, 2020. Upturn was registered in prices in medical specialist practice and pharmaceutical products, while drop was recorded in prices of hospital services.

    Prices of goods and services related to transport increased on by 1.6 percent. The average level of prices of fuels for transport went up by 5.6 percent, also due to the excise duty on fuel rise as of January 1, 2020. Prices of diesel increased by 5.9 percent, of petrol – by 5.1 percent and of auto gas – by 5.4 percent. As fares of regional and interurban bus tickets as well as train tickets went up, passenger transport by road and by rail became more expensive, while prices of passenger transport by air reduced over a month.

    Within the miscellaneous goods and services group, the average level of prices rose by 1.8 percent, which was due to the end of discounts on articles for personal hygiene and beauty products.

    The most significant upturns among other commodity groups were recorded in prices of maintenance charges in multi-occupied buildings, rentals for housing, catering services. As natural resource tax rate increased, prices of refuse collection went up, while prices of electricity and natural gas in January decreased. During the month prices of package holidays went down as well.

    Compared to January 2019, in January 2020 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages, goods and services related to transport, alcoholic beverages and tobacco products, goods and services related to recreation and culture, health care as well as restaurant and hotel services.

    Over the year, prices within the group of food and non-alcoholic beverages increased by 3.4 percent. Prices of pork (upturn of 16.5 percent), dried, salted or smoked meat (7.6 percent), poultry (6.3 percent) and meat preparations (10.2 percent) had the strongest upward influence on the average price level within the group. Rise was also registered in prices of fresh fruit (of 14.1 percent), bakery products (4.4 percent), sugar (7.3 percent), flours and other cereals (4.3 percent), ice cream (4.5 percent), fruit and vegetable juices (3.8 percent), yoghurt (2.7 percent), rice (10.1 percent). Reduction was recorded in prices of cheese and curd (of 4.2 percent), coffee (1.9 percent), butter (4.1 percent) and sour cream (2.4 percent).

    The average level of alcoholic beverages and tobacco prices increased by 2.5 percent. Prices of alcoholic beverages rose by 2.4 percent, which was affected by growth of beer and spirits prices. Prices of tobacco products rose on average by 2.7 percent.

    Within the health care group, the average level of prices rose by 3.0 percent, which was mainly due to the increase in prices of general practitioner services and prices in medical specialist practice. Upturn was also registered in prices of dental services and pharmaceutical products.

    Prices of goods and services related to transport increased by 4.6 percent, which was influenced by the rise in prices of fuels for transport (of 8.8 percent): prices of petrol increased by 12.6 percent, of diesel by 7.2 percent, but average level of auto gas prices decreased by 0.2 percent. Upturn was also recorded in prices of maintenance and repair of personal transport equipment, as well as passenger transport including passenger transport by road, air and rail.

    Prices of goods and services related to recreation and culture increased by 2.3 percent. Over the year, average level of television subscription fee, newspapers and magazines prices, prices of recreational and sporting services, toys went up.

    Average level of prices of restaurant and hotel services increased by 2.8 percent. The price rise was mainly affected by catering services, as the average level of restaurant and café service prices grew by 3.1 percent and that of canteen services by 4.2 percent, while prices of hotel services dropped by 2.8 percent.

    The most significant upturns among other commodity groups were recorded in prices of heat energy, telecommunication services, refuse collection, materials for the maintenance and repair of the dwelling, hairdressing salons and personal grooming establishment services, while downturns were registered in prices of natural gas, electricity and motor vehicle insurance.

    • Published: 11.02.2020 13:27
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