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Yearly inflation at 3.4% in April

The average level of consumer prices in Latvia grew 3.4% in April compared to 2016 levels. Prices of goods grew by 3.2% and prices of services by 4.0%, according to the latest data by Latvia's statistics office. 

Compared to April 2016, in April 2017 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, goods and services related to housing, as well as prices in miscellaneous goods and services group and communication group.

The average level of food and non-alcoholic beverage prices increased by 5.3%. A rise was recorded in prices of milk products, fresh vegetables, cheese and curd, milk, sugar, butter, bakery products, dried, salted or smoked meat, chocolate and bread.

Prices of goods and services related to housing grew by 2.4%. Increase was recorded in maintenance charges in multi-occupied buildings, prices of heat energy and refuse collection, whereas drop was observed in prices of natural gas.

Prices of goods and services related to transport went up by 4.7%, which was mainly because of the rise in prices of fuels for transport (of +11.5%) and maintenance and repair of personal transport equipment. Prices of passenger transport by road, in its turn, fell.

The average level of prices in communication group rose by 7.4%, which was mostly affected by the growth in prices of wired and wireless telephone services.

Within other commodity groups, the most significant growth was recorded in prices of tobacco products, articles for personal hygiene and beauty products, package holidays, motor vehicle insurance, as well as restaurant and café services.

During the month, the average level of consumer prices increased by 0.4%

Compared to March 2017, in April 2017 the average level of consumer prices grew by 0.4%. Prices of both goods and services went up by 0.4%.

In April, the greatest pressure on the consumer price changes was put by the growth in prices of clothing and footwear, prices in miscellaneous goods and services group, prices of food and non-alcoholic beverages, as well as by the decline in prices of goods and services related to transport.

Over the month, prices of food and non-alcoholic beverages rose by 0.5%. Prices of fresh vegetables, dried, salted or smoked meat, pork, and bread had the most significant increasing impact on the price level within the food group. The most notable decline, in its turn, was observed in prices of coffee, which fell under the influence of sales campaigns.

Since goods of the summer season kept entering the market, prices of footwear rose by 12.8% and prices of garments by 2.8%.

In transportation, the average level of prices declined by 1.0%, which was mainly affected by the 2.6% drop in prices of fuel. Prices of passenger transport by air, in its turn, went up.

Within other commodity groups, the most notable increase was recorded in prices of articles for personal hygiene and beauty products, package holidays and motor vehicle insurance. Prices of heat energy reduced.

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