Considerable inflation observed in Latvia in October, but coffee and chocolate remained cheap – Baltic News Network


Compared to October 2020, the average level of consumer prices increased by 6.0 %. The greatest pressure on the average price level changes in October 2021 compared to October 2020 was put by the rise in prices of goods and services related to transport, goods and services related to housing, prices of food and non-alcoholic beverages, health care, alcoholic beverages and tobacco products as well as furnishings.

Over the year, prices within the group of food and non-alcoholic beverages increased by 4.5 %. Price rise of fresh vegetables (14.8 %) and potatoes (37.1 %) had the strongest upward influence on the average price level within the group. Prices rose for poultry (10.6 %), meat preparations (4.5 %), dried, salted or smoked meat (0.8 %). More expensive was cheese and curd (7.5 %), milk products (10.1 %), milk (9.2 %), yoghurt (12.6 %), ice-cream (6.5 %) and eggs (5.0 %). Prices also increased for vegetable oil (26.8 %), bread (3.1 %). flours and other cereals (8.9 %), rice (10.2 %), pasta products (6.2 %), olive oil (10.2 %), margarine (11.1 %) as well as sugar (4.4 %).

In turn, prices decreased for pork (5.4 %), fresh fruit (2.5 %), coffee (1.4 %), fresh or chilled fish (7.0 %) and chocolate (2.4 %), according to the latest data of the Central Statistical Bureau show that in October 2021.

The average price level of alcoholic beverages and tobacco products increased by 2.3 %. Over the year, prices for tobacco products rose by 3.7 % on average. Prices of alcoholic beverages increased by 1.5 %, mainly due to higher prices of spirits and beer.

The average price level of goods and services related to housing went up by 11.8 %. The most significant price rise was for heat energy, electricity and natural gas. More expensive were services for the maintenance and repair of dwelling, solid fuels, rentals for housing, materials for the maintenance and repair of the dwelling, refuse collection, as well as maintenance charges in multi-occupied buildings.

In the furnishings group, the prices went up by 4.2 % on average, which was mainly influenced by the increase in the prices of household furniture as well as household cleaning and maintenance products.

In the health care group, prices increased by 3.5 %. Over the year, the average price level rose for dental and medical specialist practice services. Pharmaceutical products also were more expensive.

Over the year, prices of goods and services related to transport rose by 15.6 %, which was affected by increase in prices of fuels for transport by 33.4 %.

Diesel prices rose by 35.8 %, petrol by 29.3 % and auto gas by 38.9 %.

Over the year, an increase in the average price level was also observed for second-hand motor cars, maintenance and repair of personal transport equipment as well as passenger transport by road. In turn, the average price level decreased for passenger transport by air.

Among other commodity groups, the most notable rise was registered in prices of restaurant and café services, telecommunication services, flowers, hairdressing salons and personal grooming establishment services, articles for personal hygiene and beauty products. In turn, prices of footwear dropped.

Compared to September 2021, in October 2021 the average level of consumer prices increased by 1.1 %. The greatest pressure on the price changes was due to the increase in prices of goods and services related to transport, goods and services related to housing, food and non-alcoholic beverages, furnishings, goods and services related to recreation and culture, as well as the drop in prices of clothing and footwear.

During the month, prices for food and non-alcoholic beverages increased by 0.6 %. The most significant influence on the increase of the average price level in the group was put by fresh vegetables (4.3 %). Due to the end of promotions, upturn was recorded in prices of bread (2.8 %), milk products (4.6 %), eggs (8.3 %), milk (4.6 %), ice-cream (6.4 %) and butter (4.7 %). Prices increased for cheese and curd (2.2 %), vegetable oil (3.9 %), pasta products (3.9 %). During the month, price levels fell for fresh fruit (5.8 %), pork (7.3 %) and potatoes (8.8 %).

Due to promotions, decline was in prices of chilled fish (7.1 %) and chocolate (2.3 %).

In the group of clothing and footwear, prices decreased by 1.3 %. The average price level for footwear decreased by 9.0 %, whereas for garments – increased by 1.6 %.

The average price level of goods and services related to housing increased by 1.3 %. Prices of electricity, maintenance and repair of the dwelling, as well as materials for the maintenance and repair of the dwelling rose.

In the group of furnishings, prices increased on average by 1.6 %. Due to the end of promotions, upturn was recorded in prices of household cleaning and maintenance products. Prices for household furniture and dishes increased.

The average level of prices of goods and services related to transport increased by 4.5 %, which was mainly affected by the rise in prices of fuels for transport by 8.9 %. Diesel prices went up by 9.2 %, petrol by 8.5 % and car gas by 8.7 %. Prices rose for spare parts and accessories for personal transport equipment as well as second-hand motor cars.

The prices of cultural and recreational goods and services increased by 0.8 %.

During the month, the average price level rose for fiction books, flowers, personal computers and magazines. In turn, the prices dropped for pet food.

Among other commodity groups, the most notable rise was observed in prices of spirits, dental services, pharmaceutical products, catering services. In turn, prices for hotel services dropped.

Compared to 2015, consumer prices in October 2021 were 15.2 % higher. Prices of goods rose by 13.8 %, while prices of services – by 17.9 %.



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