Compared to April 2020, the average level of consumer prices increased by 1.7% in April 2021.
Compared to April 2020, the average level of consumer prices was mainly influenced by the increase in prices of goods and services related to transport, prices of recreational and cultural goods and services, prices of food and non-alcoholic beverages, health care, as well as decrease of prices in the group of miscellaneous goods and services as well as goods and services related to housing.
Over the year, prices within the group of food and non-alcoholic beverages increased by 0.5%. Over the year, the most significant increase of the price level was for fresh vegetables (9.1%). The average price level increased also for eggs (9.2%), vegetable oil (12.4%), flours and other cereals (5.9%), chocolate (3.4%), breakfast cereals (6%), olive oil (8.7%) and bread (0.5%). In turn, prices decreased for meat and meat products (1.8%), including price decrease for poultry (5.3%), pork (3.1%) and meat products (1.4%). The fall was registered in prices of fresh fruit (6.3%), mainly of lemons and pears. Prices also fell for fruit and vegetable juices (4%), sugar (5.4%), potatoes (5.7%), milk (2.4%) and butter (3.3%), according to data from the Central Statistical Bureau of Latvia.
Prices of goods and services related to housing dropped by 0.8%, mainly due to a 5.4% decrease in heat energy prices. Decline was registered also in prices of natural gas and electricity. In turn, increase was recorded in prices of rentals for housing, services for the maintenance and repair of the dwelling, as well as materials for the maintenance and repair of the dwelling.
In the health care group, the prices increased by 2.6%. Over the year, the average price level rose for dental services and medical specialist practice. Glasses and contact lenses were also more expensive. In turn, the fall was registered in prices of pharmaceutical products, mainly reimbursable medical products.
Prices of goods and services related to transport increased by 9.7%, which was mainly affected by the increase in prices of fuels for transport by 24.8%.
Diesel prices rose by an average of 25.1%, petrol by 24.4% and car gas by 23.7%. Prices increased for second-hand motor cars and passenger transport by road. Prices dropped for passenger transport by air, which continued to be affected by the Covid-19 restrictions. Decline was registered in prices of maintenance and repair of personal transport equipment.
The average level of prices of recreational and cultural goods and services has increased by 2.7% over the year. The most significant increase was in prices of flowers, books, television subscription fee, information processing equipment as well as newspapers and magazines.
In the group of miscellaneous goods and services, prices decreased on average by 3.3%, which was mainly due to the fall in prices for articles for personal hygiene and beauty products. The average price level decreased for motor vehicle insurance, while prices increased for hairdressing salons and personal grooming establishment services.
Among other commodity groups, the most notable increase in prices was for footwear, catering services, telecommunication services as well as household furniture. In turn, decline in prices was for garments.
Compared to March, the average level of consumer prices has increased by 0.9% in April. The greatest pressure on the price changes was put by the increase in prices of clothing and footwear, food and non-alcoholic beverages, goods and services related to housing, goods and services related to transport, as well as the drop in prices in the group of miscellaneous goods and services.
During the month, the average level of prices for food and non-alcoholic beverages increased by 1.2%. The most significant price increase was recorded for fresh vegetables (16.6%). Due to the end of sales, prices increased for dried, salted or smoked meat (1.4%), poultry (1.1%) and meat products (1.8%). Prices increased for bread (1.4%), eggs (3.8%), vegetable oil (4.3%), yoghurt (2.2%) and chocolate (1.5%). In turn, due to the sales, prices decreased for milk (3.1%), bakery products (1.3%) and milk products (1.5%). Prices fell for fresh fruit (1.4%), mainly grapes and bananas.
For clothing and footwear, prices increased on average by 8.5%. While the goods of the new summer season were still entering the market, the prices of footwear increased by 26.1% and the prices of garments rose by 3.7%.
Prices of goods and services related to housing increased by 0.5%, which was mainly affected by the increase in the average price level for rentals for housing, materials for the maintenance and repair of the dwelling and solid fuels.
The average price level for water supply has increased by 1.6%, while the prices for sewage collection rose by 0.7%.
The average level of prices of goods and services related to transport increased by 0.5% during the month. Fuels for transport became 0.9% more expensive, including the rise for the prices of diesel – by 0.6%, petrol – by 0.6% and auto gas – by 5.2%. Prices for passenger transport by air increased, while the prices for maintenance and repair of personal transport equipment dropped.
In the group of miscellaneous goods and services, prices decreased by 2%. Prices for articles for personal hygiene and beauty products have decreased by 4.4%, mainly due to the sales.
Among other commodity groups, the most notable increase in prices was for wireless telephone services, wine, pet food and books. In turn, decline in prices was for vodka, beer, flowers and personal computers.
Compared to 2015, consumer prices in April were 11% higher.
Prices of goods rose by 9.1%, while prices of services – by 15.4%. (BNN/Business World Magazine)