Inflation in Latvia reaches 21. 5% in August – bnn-news. com

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Compared to August 2021, the average level of consumer prices increased by 21. 5% in August 2022.

Compared to August 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, within the miscellaneous goods and services group, restaurant and hotel services, alcoholic beverages plus tobacco products, goods and services related to recreation and culture, health care in August 2022, according to data from the Central Statistical Bureau of Latvia.

Over the year, prices within the group of food and non-alcoholic beverages increased by 25. 7%.

Price rise for bread (30. 4%), bakery products (26. 0%), flours and other cereals (70. 6%), pasta products (39. 5%) and rice (41. 4%) had the strongest upward influence on the average price level within the group. Prices of cheese and curd (37. 1%), milk products (39. 2%), milk (40. 1%) and yoghurt (27. 4%) went up. Increase was observed in prices of dried, salted or smoked meat (17. 8%), poultry (25. 8%), meat preparations (20. 4%), pork (6. 0%) and beef (28. 5%).

Over the 12 months upturn was registered in prices of coffee (34. 0%), fresh vegetables (17. 2%), ice cream (32. 6%), butter (40. 7%), sugar (58. 3%), fresh fruit (10. 6%), vegetable oil (47. 3%). Prices of chocolate (18. 8%), eggs (16. 8%), preserved or processed fish and seafood-based preparations (19. 8%), fresh or chilled fish (28. 6%), jams and honey (20. 8%), sauces and condiments (30. 5%), sweets (26. 4%), potatoes (11. 3%), fruit and vegetable juices (10. 0%), salt and spices (30. 1%), crisps (42. 1%), soft drinks (14. 6%), ready-made meals (24. 3%), margarine (33. 6%), frozen fish (23. 9%), dried out, other preserved or processed vegetables (14. 8%), olive oil (17. 0%), dried, smoked or salted fish (20. 3%) went up.

The average level of alcoholic beverage and tobacco product prices rose by 6. 6%.

As prices of spirits, beer and wine went up alcoholic beverages became more expensive (7. 7%). Over the yr average increase of 4. 8% was observed in costs of tobacco products.

Average degree of prices of goods and services related to housing rose simply by 52. 4%.

Over the year, the most significant rise in the prices was with regard to electricity, heat energy, solid fuels and natural gas. Upturn was recorded in prices of refuse collection, liquefied gas in cylinders, materials for the maintenance and repair of the dwelling, water supply, sewage collection, services for the maintenance and repair of the dwelling, maintenance charges in multi-occupied buildings, as well as in rentals for housing.

The average level of healthcare prices grew by 7. 7%.

Over the year, prices associated with dental services, pharmaceutical products, prices in medical specialist practice, as well as services of medical analysis laboratories and x-ray centres went up.

Prices of goods and services related to transport increased by 23. 4%, which was determined by the rise in costs of fuels for transport by 40. 4%.

Prices of diesel rose by 44. 5%, of petrol – by 36. 5%, but of auto gas – by 25. 9%.

An upturn was recorded in prices associated with maintenance and repair of personal transport equipment, second-hand motor cars, spare parts and accessories for personal transport equipment, passenger transport by road plus passenger transport by air.

Prices of products and services related to recreation and culture rose on average by 7. 3%, that was mainly influenced by the increase in prices of pet food, package holidays, recreation and sports services, flowers, cultural services, as well as stationery plus drawing materials.

The average level of restaurant and hotel service prices went up by 15. 6%.

Increase over the year has been observed in prices of catering services, of which prices of restaurant and café solutions rose by 14. 9%, of canteen services – by 14. 1% and of fast food services – by 16. 5%. Prices associated with hotel services also proceeded to go up.

Within the miscellaneous goods and services group, costs increased by 12. 8%, which was affected by the rise in prices of articles for personal hygiene and beauty products. Motor vehicle insurance, hairdressing and personal grooming establishment services and financial services were more expensive as well.

Among other commodity groups, the most notable rise had been registered in prices of household cleaning and servicing products, household furniture, garments and telecommunication services.

Compared to July 2022, the average level of customer prices increased by 0. 4% in August 2022.

The greatest pressure on the price changes was put by the within prices of goods and providers related to housing, food and non-alcoholic beverages, health care, goods and services associated with recreation and culture, alcoholic beverages and tobacco products, cafe and hotel services, as well as by the fall in prices of goods and services related to transportation.

Over the month, prices of food and non-alcoholic beverages grew by 0. 9%. The most significant rise in the prices was for cheese and curd (4. 2%), bakery products (3. 3%), and also fresh fruit (3. 9%). Costs rose for sugar (14. 8%), milk (3. 8%), flours and other cereals (4. 3%), ice cream (4. 6%). As the promotions ended, bread (0. 8%), crisps (11. 7), sweets (5. 8%), pasta products (3. 6%), jams and honey (3. 2%), as well as cereals (4. 9%) became more expensive. Economic recovery was also registered in prices of rice (3. 9%) and poultry (0. 6%). Under the influence of seasonal factors fresh vegetables (8. 2%) and potatoes (6. 8%) had the most important price drop within the group. Prices of dried, salted or smoked meat reduced by 0. 7%, which was mainly affected by the special offers.

The average amount of alcoholic beverage and tobacco item prices rose by 0. 7%. As prices associated with spirits and wine went up, prices of alcohol based drinks over the month went up by 1 . 1%. In turn, due to the discounts, prices of beer fell.

Average level of prices of products and services related to casing rose by 3. 0%.

During the month the most significant price rise in the group was registered regarding electricity.

Prices rose for heat energy, solid fuels, along with materials for the maintenance plus repair of the dwelling. As amendments to Law on measures to reduce the extraordinary rise in energy prices entered into force, during the month natural gas dropped on average by 19. 6%.

Inside the health care group prices rose by 0. 9%. Growth was registered in costs of pharmaceutical products and dental services.

Prices of goods and services related to transport decreased by 3. 8%, which was mainly affected by the fall in prices of fuels for transport by six. 8%. Prices of diesel dropped by 7. 8%, of petrol – simply by 6. 0%, but associated with auto gas – prices didn’t change. Prices of passenger transport by air flow went down. During the month, traveler transport by road became more expensive.

Prices of goods and services related to recreation and culture increased by 0. 8%. Costs of fiction books, entertainment and sports services, in addition to package holidays increased.

The average level of eating place and hotel service costs went up by 1 . 3%. Increase was observed in prices of catering services, of which prices of restaurant and café services went up by 2 . 0% along with canteen services – by 1 . 0%.

Among other commodity groups, the most notable rise was registered in prices of clothing, household furniture, but drop was observed in prices associated with footwear, household cleaning and maintenance products and non-electric kitchen utensils and articles.

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