Shoes became expensive in Latvia in a year-on-year inflation comparison in August, which showed the general inflation at 3.7%.
According to a press release of the Latvian Central Statistical Bureau, the greatest pressure on the average price level changes in August 2021 compared to August 2020 was put by the rise in prices of goods and services related to housing, goods and services related to transport, prices of food and non-alcoholic beverages, clothing and footwear, alcoholic beverages and tobacco products, as well as healthcare.
Over the year, prices within the group of food and non-alcoholic beverages increased by 2.2%. Price rise of poultry (+15.7%), fresh vegetables (+11.7%) and potatoes (+26.9%) had the strongest upward influence on the average price level within the group. Prices increased for vegetable oil (+18.9%), flours and other cereals (+3.7%), pork (+2.1%), olive oil (+10.5%) and rice (+10%). More expensive was yoghurt (+9.2%), cheese and curd (+3.1%), milk products (+3.9%), milk (+4.2%) as well as eggs (+3.5%). In turn, prices decreased for fresh fruit (-8.7%), coffee (-3.3%), bread (-1.4%), chocolate (-2.6%), dried, salted or smoked meat (-0.7%), as well as butter (-3.5%).
The average price level of alcoholic beverages and tobacco products increased by 2%. Over the year, prices for tobacco products rose by 3.5%. Prices of alcoholic beverages increased by 1.1%, mainly due to higher prices of spirits and beer.
The average price level of clothing and footwear went up by 4.7%. Over the year, prices of footwear increased by 11.2%, whereas of garments – by 2.7%.
The average price level of goods and services related to housing increased by 6.8%, which was mainly influenced by the growth in the natural gas tariffs by 51.3%. Prices went up for electricity, heat energy, services for the maintenance and repair of the dwelling, rentals for housing, solid fuels, refuse collection, as well as materials for the maintenance and repair of the dwelling.
In the healthcare group, prices increased by 2.5%. Growth was registered in prices of dental services and in medical specialist practice. In turn, prices of pharmaceutical products, mainly reimbursable medical products decreased.
Over the year, prices of goods and services related to transport rose by 8.8%, which was affected by increase in prices of fuel by 19.1%. Diesel prices rose by 19.1%, petrol by 18.2% and auto gas by 24.1%. An increase in the average level of prices was also observed for second-hand motor cars and tyres. In turn, prices dropped for passenger transport by air.
Among other commodity groups, the most notable rise was registered in prices of catering services, household furniture, telecommunication services. In turn, prices for motor vehicle insurance dropped.
Compared to July, in August the average level of consumer prices increased by 0.4%. The greatest pressure on the price changes was due to the increase in prices of goods and services related to housing, goods and services related to recreation and culture, goods and services related to transport, prices of clothing and footwear, as well as due to the fall in prices of food and non-alcoholic beverages, furnishings, the Latvian Central Statistical Bureau reported. (BNN/Business World Magazine)
