Compared to November 2020, the average level of consumer prices increased by 7.5% in November 2021.
The greatest pressure on the average price level changes in November 2021 compared to November 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, goods and services related to recreation and culture, alcoholic beverages and tobacco products, furnishings as well as healthcare, according to the latest data from the Central Statistical Bureau of Latvia.
Over the year, prices within the group of food and non-alcoholic beverages increased by 5.6%.
Price rise of fresh vegetables (+11.1%) and potatoes (+50.2%) had the strongest upward influence on the average price level within the group.
More expensive was cheese and curd (+8.2%), milk products (+10.9%), yoghurt (+22.1%) and milk (+12.4%). Prices also increased for flours and other cereals (+18.8%), bread (+2.9%), bakery products (+2.2%), rice (+20.3%) and pasta products (+8.7%).
More expensive was also vegetable oil (+33.3%), butter (+6.9%), olive oil (+9.4%) and margarine (+13.9%). Prices rose for ice cream (+10.1%), fresh fruit (+3.2%), poultry (+3.5%), eggs (+6.9%) and meat preparations (+3%). In turn, prices decreased for pork (+5.7%), fruit and vegetable juices (+5.3%) and breakfast cereals (+4.8%).
The average price level of alcoholic beverages and tobacco products increased by 2.5%. Over the year, prices for tobacco products rose by 3.9% on average. Prices of alcoholic beverages increased by 1.6%, mainly due to higher prices of beer, spirits and wine.
The average price level of goods and services related to housing went up by 15%. The most significant price rise was for heat energy, electricity and natural gas. More expensive were services for the maintenance and repair of dwelling, rentals for housing, solid fuels, 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 4.3% 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%. Growth was registered in prices of dental and medical specialist practice services.
Over the year, prices of goods and services related to transport rose by 18.7%, which was affected by increase in prices of fuels for transport by 39.1%. Diesel prices rose by 41.2%, petrol by 35.5% and auto gas by 44.6%. An increase of prices was also observed for passenger transport by air, second-hand motorcars, maintenance and repair of personal transport equipment.
The prices of cultural and recreational goods and services increased by 2.9%. Over the year, the average price level of flowers, recreational and sporting services, television subscription fee and magazines went up. In turn, prices dropped for personal computers.
Among other commodity groups, the most notable rise was registered in prices of catering services, telecommunication services, hairdressing salons and personal grooming establishment services, garments, articles for personal hygiene and beauty products.
The average level of consumer prices increased by 1.1% during the month
Compared to October, in November 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 housing, food and non-alcoholic beverages, goods and services related to transport, in the group of miscellaneous goods and services, as well as the drop in prices of clothing and footwear.
During the month, prices for food and non-alcoholic beverages increased by 1.5%.
The most significant influence on the increase of the average price level in the group was put by fresh vegetables (+4.6%). Prices increased for flours and other cereals (+8.1%), potatoes (+6.3%) and fresh fruit (+2%).
Due to the end of promotions, an upturn was recorded in prices of bakery products (+2.8%), fresh or chilled fish (+15.7%), coffee (+2.3%), bread (+1%) and chocolate (+3.1%). More expensive was yoghurt (+6.7%), butter (+6.8%), vegetable oil (+7.6%), milk (+2.8%), curd (+3.5%), pasta products (+4.7%), olive oil (+4.3%) and eggs (+1.5%).
Due to promotions, a decline was in the average price level of poultry (-5%), fruit and vegetable juices (-5.9%), sour cream (-3.8%), breakfast cereal (-7.9%), pork (-1.2%) and dried, salted or smoked meat (-0.6%).
In the group of clothing and footwear, prices decreased by 1.8%. Mainly due to the sales, the average price level of footwear dropped by 4.6% and of garments – by 0.9%.
The average price level of goods and services related to housing increased by 2.9%, which was mainly influenced by increase in the heat energy tariffs in Riga, as of November 1.
Electricity and solid fuels were more expensive.
The average price level of goods and services related to transport increased by 1.9%, which was mainly affected by the rise in prices of fuels for transport by 3.3%. Petrol prices went up by 4.1%, diesel by 2.5% and auto gas by 5.4%. The price level of maintenance and repair of personal transport equipment and motorcars went up. In turn, the prices of tires dropped.
In the group of miscellaneous goods and services, prices rose on average by 0.9%, which was mainly due to the end of promotions for articles for personal hygiene and beauty products. The average price level of motor vehicle insurance increased.
Among other commodity groups, the most notable rise was observed in prices of pet food, wine, dental services, catering services, non-electric kitchen utensils and articles. In turn, prices of spirits and household cleaning and maintenance products dropped.
Compared to 2015, consumer prices were 16.4% higher in November 2021. Prices of goods rose by 15.4%, while prices of services – by 18.2%. (BNN/Business World Magazine)
