Inflation in Latvia reaches 19.3% – bnn-news.com

0 Comments

Compared to June 2021, the average level of consumer prices increased by 19.3 % in June 2022.

Compared to June 2021, the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to housing, food and non-alcoholic beverages, goods and services related to transport, restaurant and hotel services, within the miscellaneous goods and services group, goods and services related to recreation and culture, alcoholic beverages and tobacco products, health care in June 2022, according to the latest data of the Central Statistical Bureau of Latvia.

Over the year, prices within the group of food and non-alcoholic beverages increased by 22.1%. Price rise for cheese and curd (30.2%), milk products (33.7%), milk (39.2%) and yoghurt (25.8%) had the strongest upward influence on the average price level within the group. Prices of bread grew by 21.0%, of flours and other cereals – by 58.0%, of bakery products – by 19.1%, of pasta products – by 28.5%, of rice – by 28.8%.

Over the year upturn was registered in prices of coffee (28.5%), vegetable oil (47.0%), ice cream (27.7%), butter (33.0%).

Increase was observed in prices of poultry (28.6%), dried, salted or smoked meat (15.0%), meat preparations (18.5%), pork (7.4%) and beef (21.2%). Upturn was registered in prices of fresh vegetables (12.4%), fresh fruit (12.8%), potatoes (32.7%), as well as dried, other preserved or processed vegetables (14.0%). Prices rose for eggs (19.4%), fresh or chilled fish (38.9%), chocolate (16.4%), sugar (31.6%), jams and honey (23.4%), preserved or processed fish and seafood-based preparations (15.5%), sauces and condiments (26.2%), sweets (18.9%), salt and spices (27.0%), fruit and vegetable juices (8.4%), ready-made meals (24.5%), frozen fish (20.2%). Prices of soft drinks (10.9%), margarine (25.7%) and olive oil (14.8%) also went up.

The average level of alcoholic beverage and tobacco product prices rose by 5.8%. As prices of spirits, beer and wine went up alcoholic beverages became more expensive (5.4%). Over the year increase of 6.6% was observed in prices of tobacco products.

Average level of prices of goods and services related to housing rose by 39.9%. Over the year, the most significant rise in the prices was for electricity, heat energy, natural gas and solid fuels. Increase was registered in prices of refuse collection, rentals for housing, water supply, materials for the maintenance and repair of the dwelling, sewage collection, as well as services for the maintenance and repair of the dwelling.

The average level of health care prices grew by 7.3%.

Over the year, prices of dental services, pharmaceutical products and prices in medical specialist practice went up.

Prices of goods and services related to transport increased by 32.2%, which was determined by the rise in prices of fuels for transport by 60.3%. Prices of diesel rose by 64.9%, of petrol – by 57.5%, but of auto gas – by 30.4%. Upturn was recorded in prices of maintenance and repair of personal transport equipment, spare parts and accessories for personal transport equipment, second-hand motor cars, new motor cars and passenger transport by road.

Prices of goods and services related to recreation and culture rose on average by 6.7%, which was mainly influenced by the increase in prices of pet food, recreation and sports services, package holidays, flowers, cultural services, as well as stationery and drawing materials.

The average level of restaurant and hotel service prices went up by 14.1%. Increase over the year was observed in prices of catering services, of which prices of restaurant and café services rose by 12.7%, of canteen services – by 12.7% and of fast food services – by 14.5%. Prices of hotel services also went up.

In the group of miscellaneous goods and services, prices increased by 9.6%, which was mainly due to the rise in prices for motor vehicle insurance.

Articles for personal hygiene and beauty products, as well as hairdressing and personal grooming establishment services were more expensive.

Among other commodity groups, the most notable rise was registered in prices of garments, household furniture, household cleaning and maintenance products, footwear, non-electric kitchen utensils and articles, major household appliances, as well as domestic and household services.

Compared to May 2022, the average level of consumer prices increased by 2.4% in June 2022. 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 housing, goods and services related to transport, restaurant and hotel services, goods and services related to recreation and culture, health care, as well as by the drop in prices of clothing and footwear.

Over the month, prices of food and non-alcoholic beverages grew by 3.0%. Price rise of coffee (of 8.3%), mainly due to the end of special offers, had the strongest upward influence on the average price level within the group. As the promotions ended, dried, salted or smoked meat (4.2%), bread (2.2%), ice-cream (5.7%), poultry (2.1%), yoghurt (5.1%) became more expensive. Prices went up for bakery products (5.0%), chocolate (5.7%), flours and other cereals (4.2%), as well as sweets (10.1%).

Upturn was registered in prices of potatoes (13.3%), which was affected by the new potato crop entering the market. Increase was observed in prices of milk (4.9%), butter (10.6%), cheese and curd (2.3%), as well as sour cream (4.9%). Prices of vegetable oil (5.1%), sugar (5.8%), fruit and vegetable juices (3.5%) went up. Decline, in turn, was registered in prices of fresh vegetables (of 5.6%).

Prices within clothing and footwear group fell by 1.6%. Affected by discounts and sales, the average level of footwear prices dropped by 3.4%, but prices of garments – by 1.0%.

Average level of prices of goods and services related to housing rose by 4.3%. The average level of electricity prices grew by 11.4%. Prices went up for solid fuels, heat energy, water supply, sewage collection, as well as rentals for housing.

The average level of health care prices grew by 0.9%. Growth was registered in prices of pharmaceutical products and dental services.

Goods and services related to transport became more expensive by 4.6%. Prices of fuels went up by 7.2%, as prices of petrol rose by 9.9%, of diesel by – 5.9% and of auto gas – by 0.5%. Increase was observed in prices of maintenance and repair of personal transport equipment, spare parts and accessories for personal transport equipment, as well as passenger transport by road.

Prices of goods and services related to recreation and culture rose by 1.7%.

Increase was observed in average price level of package holidays, fiction books, stationery and drawing materials. Due to the end of sales, growth was recorded in prices of pet food. In turn, prices of flowers reduced.

The average level of restaurant and hotel service prices went up by 3.1%. Prices of restaurant and café services on average rose by 2.7%, of canteen services – by 3.1% and of fast food services – by 4.8%, but of hotel services – by 3.5%.

Among other commodity groups, the most notable rise was registered in prices of hairdressing and personal grooming establishment services, non-electric kitchen utensils and articles, motor vehicle insurance. In turn, prices of articles for personal hygiene and beauty products went down.

Compared to 2015, consumer prices were 33.5% higher. Prices of goods increased by 35.7% and prices of services by 25.6% in June 2022.

Leave a Reply

Your email address will not be published.