Enormous fuel price increase, but cheaper meat. A look at consumer prices in Latvia – Baltic News Network


Compared to May 2020, the average level of consumer prices increased by 2.6 % in May 2021.

Compared to May 2020, the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to transport, food and non-alcoholic beverages, goods and services related to recreation and culture, health care, alcoholic beverages and tobacco products, clothing and footwear in May 2021, according to data from the Central Statistical Bureau of Latvia.

Over the year, prices within the group of food and non-alcoholic beverages increased by 0.9 %. Price rise of fresh vegetables (of 17.9 %) had the strongest upward influence on the average price level within the group. Prices increased also for vegetable oil (22.0 %), yoghurt (9.5 %), flours and other cereals (8.0 %), ground coffee (5.8 %) and olive oil (22.9 %).

Prices rose for milk products (of 2.7 %), cheese and curd (1.9 %), as well as eggs (3.8 %).

In turn, prices decreased for fruit (8.6 %), as well as for meat and meat products (2.0 %), including for poultry (3.7 %), dried, salted or smoked meat (2.0 %) and pork (1.5 %). Prices fell for instant coffee (8.0 %), butter (9.0 %), fruit and vegetable juices (6.9 %), ice cream (5.0 %), chocolate (2.9 %), as well as potatoes (5.3 %).

The average level of alcoholic beverage and tobacco product prices rose by 2.0 %. Prices of beer, spirits and wine increased. Tobacco product prices rose on average by 1.2 %.

The average level of clothing and footwear prices went up by 2.6 %. Over the year, the average level of footwear prices increased by 8.4 %, but of garments – by 0.7 %.

Within the healthcare group prices rose by 3.0 %. Growth was registered in prices of dental services, prices in medical specialist practice, as well as for glasses and contact lenses. Prices of pharmaceutical products, mainly reimbursable medical products decreased.

Over the year, prices of goods and services related to transport increased by 11.4 %, which was determined by the rise in prices of fuels for transport by 29.5 %.

Prices of diesel rose by 28.7 %, of petrol – by 30.1 %, but of auto gas – by 32.3 %.

Prices increased for second-hand motor cars and passenger transport by road. In turn prices dropped for passenger transport by air, which continued to be affected by the Covid-19 restrictions, as well as for maintenance and repair of personal transport equipment.

Average price level of prices of goods and services related to recreation and culture rose by 3.0 %. Prices of flowers, books, television subscription fee, newspapers and magazines went up. Prices of personal computers fell.

Among other commodity groups, the most notable increase was registered in prices of rentals for housing, catering services, telecommunication services, services for the maintenance and repair of the dwelling. In turn, fall in prices was for heat energy, motor vehicle insurance, hotel services, articles for personal hygiene and beauty products.

During the month, the average level of consumer prices rose by 0.5 %

Compared to April 2021, the average level of consumer prices increased by 0.5 % in May 2021. The greatest pressure on the price changes was put by the rise in prices of food and non-alcoholic beverages, goods and services related to transport, alcoholic beverages and tobacco products, restaurant and hotel services, furnishings, as well as by the fall in prices of goods and services related to recreation and culture.

Over the month, average price level of food and non-alcoholic beverages grew by 1.3 %. The most significant rise in the prices was for fresh fruit (5.9 %). Due to the end of promotions, upturn was recorded in prices of poultry (4.9 %), milk products (3.5 %), milk (3.8 %), flours and other cereals (4.6 %), cheese and curd (1.7 %), yoghurt (4.0 %), vegetable oil (6.9 %), bakery products (1.3 %), pork (1.8 %) and olive oil (6.1 %). In turn, decline was registered in prices of fresh vegetables (of 1.2 %). Sales campaigns led to the drop in prices of ice cream (of 3.8 %), chocolate (2.8 %) and butter (3.8 %).

The average level of alcoholic beverage and tobacco product prices went up by 0.6 %, which was mainly influenced by the increase in prices of tobacco products on average by 1.0 %.

Due to the end of sales, increase was recorded in prices of beer and spirits.

Within the furnishings group prices rose on average by 0.6 %. Due to the end of sales, increase was recorded in prices of household cleaning and maintenance products, non-electric kitchen utensils and articles.

The average level of prices of goods and services related to transport rose by 0.5 % during the month. Prices of fuels for transport went up by 1.1 %, of which prices of diesel by 1.2 %, of petrol by – 1.0 %, but of auto gas – by 0.2 %. Prices of second-hand motor cars increased, while the prices for passenger transport by air went down.

Goods and services related to recreation and culture became cheaper by 0.6 %. Over the month, average price level of personal computers and fiction books went down, but in turn prices of flowers – increased.

The average level of restaurant and hotel service prices went up by 1.1 %. Prices of hotel services grew by 9.9 %. Increase was also registered in prices of catering services, as the average level of prices of restaurant and café services increased by 0.5 %.

Among other commodity groups, the most notable rise was registered in prices of electricity, articles for personal hygiene and beauty products.

Compared to 2015, consumer prices were 11.5 % higher in May 2021. Prices of goods increased by 9.8 % and prices of services by 15.6 %.



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