Compared to November 2015, the average level of consumer prices increased by 1.3% in November 2016. Prices of goods grew by 0.6% and prices of services by 2.9%.
In November 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, health care, recreation and culture, alcoholic beverages and tobacco products, as well as by the drop in prices of goods and services related to housing, according to data from the Central Statistical Bureau of Latvia.
The average level of food and non-alcoholic beverage prices grew by 2.6% YoY. Increase was recorded in prices of milk, cheese and eggs, meat and meat products, sugar, bread and cereals, butter, sweets, fresh or chilled fish, salt and spices, jams and honey, soft drinks. Reduction was observed in prices of coffee, vegetable oil, fresh vegetables, potatoes, and fresh fruit.
Prices of tobacco products rose by 5.2% YoY. The average level of alcoholic beverage prices has declined by 0.2%.
Prices of goods and services related to housing fell by 1.5%. Decline was observed also in prices of heat energy, natural gas, solid fuels, rentals for housing, prices of materials for the maintenance and repair of the dwelling, whereas increase was recorded in maintenance charges in multi-storied buildings, prices of garbage collection, services for the maintenance and repair of the dwelling, sewage collection, and water supply.
The average level of health care prices grew by 2.8%, which was mainly due to the rise in prices of pharmaceutical products, dental services, and prices in medical specialist practices.
Prices of goods and services related to transport went up by 1.3%, which was mainly affected by a 3.1% increase in prices of fuels for transport. Increase was registered also in prices of maintenance and repair of personal transport equipment, while decline was observed in prices of spare parts and accessories for personal transport equipment, passenger transport by air, and passenger transport by road.
Prices of package holidays grew by 7.7%. Rise was recorded also in prices of cultural services, newspapers and magazines, flowers, and recreational and sporting services. Decline was observed in prices of audio-visual equipment.
Among other commodity groups, the most significant growth was recorded in prices of catering services, telecommunication services, and articles for personal hygiene and beauty products.
Compared to October the average level of consumer prices rose by 0.2% in November. Prices of goods went up by 0.4%, while prices of services went down by 0.2%.
In November the greatest pressure on the consumer price changes was put by the growth in prices of food and non-alcoholic beverages, goods and services related to transport, as well as by the decline in prices of clothing and footwear, goods and services related to housing, alcoholic beverages and tobacco products.
During the month, prices of food and non-alcoholic beverages went up by 1.2%. Milk, cheese and eggs had the most significant increasing impact on the price level. Rise was recorded in prices of fresh vegetables, fresh fruit, butter, dried, salted or smoked meat, sweets, meat preparations, olive oil, and coffee. Decline was observed in prices of poultry, fresh or chilled fish, vegetable oil, and potatoes.
The average level of alcoholic beverage prices fell by 0.6%, which was affected by wine and spirits sales. Prices of tobacco products rose by 0.1%.
Prices of garments dropped by 1.2% and prices of footwear dropped by 1.7%.
Prices of goods and services related to housing went down by 0.2%. Drop was recorded in prices of materials for the maintenance and repair of the dwelling and rentals for housing.
Within the transport group, the average level of prices rose by 0.6%, which was mainly affected by a 1.8% growth in prices of fuels for transport. Increase was observed in prices of spare parts and accessories for personal transport equipment as well as driving lessons.
Within the other commodity groups, the most notable increase was recorded in prices of flowers, newspapers and magazines, books, articles for personal hygiene and beauty products. Reduction was registered in prices of package holidays and pharmaceutical products. (BNN/Business World Magazine)
