September’s expected inflation in Latvia at 22. 2% – bnn-news. com

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In September 2022, compared to September 2021, the average level of consumer prices increased by 22. 2 %.

Compared to September 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, goods and services related to recreation and culture, health care, alcoholic beverages and tobacco products, furnishings in September 2022, according to the latest data from the Central Statistical Bureau of Latvia.

Over the year, costs within the group of food and non-alcoholic beverages increased by 27. 5 %.

Price rise for bread (37. 1 %), bakery products (25. 5 %), flours and other cereals (62. 2 %), pasta products (41. 1 %), rice (37. 8 %) and cereals (11. 8 %) had the strongest upward influence on the average price level within the group. Prices of cheese and curd (38. 7 %), milk products (41. 0 %), milk (43. 7 %), eggs (26. 9 %) and yoghurt (24. 6 %) went up. Increase over the year was observed in prices of poultry (35. 7 %), dried, salted or smoked meat (19. 9 %), pork (12. 4 %), meat preparations (20. 6 %) plus beef (31. 3 %). Rise in prices was registered for coffee (35. eight %), butter (51. five %), fresh fruit (14. 2 %), sugar (65. 3 %), vegetable oil (51. 8 %), ice cream (27. 9 %) and chocolate (21. 3 %). Increase was observed in prices of preserved or processed fish and seafood-based preparations (24. 3 %), fresh vegetables (5. 1 %), sauces and condiments (36. 2 %), jams and honey (19. 0 %), fruit plus vegetable juices (12. 5 %), sweets (25. a few %), frozen fish (34. 0 %), salt and spices (34. 4 %), fresh or chilled fish (23. 2 %), crisps (45. 0 %), soft drinks (15. 8 %), ready-made meals (26. 9 %), margarine (32. 6 %), dried, other preserved or processed vegetables (16. six %), dried fruit plus nuts (16. 2 %), mineral water (15. 1 %), olive oil (13. 9 %).

The average level of alcoholic beverage and cigarette product prices rose by 5. 9 %.

As prices of spirits, wine and beer went up, costs of alcoholic beverages increased simply by 6. 6 %. Over the year average increase associated with 4. 6 % was observed in prices of cigarettes products.

Average level of prices of goods plus services related to housing rose by 51. 6 percent. Over the year, the most significant rise in the prices was for electricity, heat energy, solid fuels and natural gas. Upturn was recorded in prices of refuse collection, materials for the maintenance and repair of the dwelling, water supply, sewage collection, services for the maintenance and repair of the dwelling, servicing charges in multi-occupied buildings, as well as in rentals with regard to housing.

Within the furnishings group prices rose on average by 11. 6 %, mainly due to the more expensive household cleaning and upkeep products, household furniture, major household appliances, non-electric kitchen utensils and articles as well as dishes.

The average level of health care prices grew by 7. 9 %.

Over the year, prices of dental services, pharmaceutical products, costs in medical specialist practice, services of medical analysis laboratories and x-ray centres as well as for glasses and contact lenses went up.

Prices of goods and services related to transport increased by 21. 9 %, which was determined by the rise in prices of fuels for transport by 37. 4 %.

Prices of diesel rose simply by 45. 3 %, associated with petrol – by 28. 7 %, but of auto gas – by 21. 4 %.

Upturn was written in prices of maintenance and repair of personal transportation equipment, spare parts and accessories for personal transport equipment, second-hand motor cars, passenger transport by road, passenger transportation by air as well as new motor cars.

Prices of goods and solutions related to recreation and tradition rose by 7. 7 %. During the year, prices improved for pet food, package holidays, recreational and sporting services, flowers, television subscription fee, stationery and drawing materials as well as newspapers plus magazines.

The typical level of restaurant and hotel service prices went up by 17. 5 percent. Increase was observed in costs of catering services, of which prices of restaurant and café services rose simply by 15. 5 %, associated with canteen services – by 15. 5 % and of fast food services – simply by 17. 8 %. Rise was also observed in prices of hotel services.

Within the miscellaneous goods and services team, prices increased by 15. 3 %, which was most significantly affected by the within prices of articles for personal hygiene and beauty products. Motor vehicle insurance, hairdressing and personal grooming establishment services, financial services were more expensive as well.

Among other commodity groups, the most notable rise was authorized in prices of garments, telecommunication services and pre-primary education.

Compared to August 2022, the typical level of consumer prices increased by 1 . 6 % in September 2022.

The greatest pressure on the price level changes was put by the rise in prices of goods and providers related to housing, food and non-alcoholic beverages, clothing and footwear, within the miscellaneous goods and services group, education, furnishings, goods and services associated with recreation and culture, and also drop in prices of goods and services related to transport.

Over the month, prices of food and non-alcoholic beverages grew by 2 . 0 %. The most significant price rise was registered regarding bread (5. 7 %), mainly for wheat bread. As the promotions ended, coffee (5. 3 %) as well as dried, salted or smoked meat (2. 9 %) became more expensive. Prices of cheese and curd (4. two %), pork (4. 7 %), milk (4. 1 %), poultry (2. 6 %), milk products (2. seven %), butter (6. 7 %) and preserved or even processed fish and seafood-based preparations (7. 0 %) went up. Prices also rose for sugar (6. 2 %), vegetable oil (4. 4 %), frozen fish (9. 1 %), fresh fruit (1. 1 %), sauces and condiments (4. 6 %). Due to the end of special offers, increase was recorded in prices of chocolates (2. 9 %) plus eggs (2. 1 %). Under the influence of seasonal factors fresh vegetables (5. 5 %) and potatoes (11. 8 %) had the most significant price drop within the group. Downturn was also registered in prices associated with fresh or chilled seafood (9. 4 %).

Prices within clothing and footwear team went up by 4. 8 %.

With the autumn season’s collections entering the market, prices of garments increased by 3. 6 %, of footwear – by nine. 0 %.

Average level of prices of products and services related to housing rose by 2 . seven %. During the month the most significant price rise in the group was registered for heat energy (9. 2 %) Despite the cancellation of mandatory procurement and capacity components (MPC), the average level of electricity costs in September grew simply by 1 . 8 %. Costs rose also for solid fuels, materials for the servicing and repair of the home, as well as services for the upkeep and repair of house.

In turn, rentals for housing grew to become cheaper.

Within the furnishings group prices rose on average by second . 3 %. Due to the finish of sales, increase was written in prices of household cleaning and maintenance products, non-electric kitchen utensils plus articles.

Prices of goods and services related to transport on average decreased by 1 . 4 %, that was mainly affected by the fall in prices of fuels intended for transport by 2 . one %. Prices of petrol dropped by 5. almost eight %, of auto gas – by 0. four %, but of diesel – increased by 0. 4 %. Prices associated with passenger transport by air went down. During the month upturn was recorded in prices of maintenance and repair of personal transport equipment.

The average price level of services and goods related to recreation and lifestyle rose by 1 . 2 %. Television subscription fee, recreational and sporting services, flowers, toys, as well as stationery and drawing materials had been more expensive. Prices of bundle holidays went down.

With the beginning of the brand new school year, average cost level of pre-primary education (27. 5 %) and higher education (4. 5 %) went up.

Within the miscellaneous goods and services group prices increased by three or more. 2 %. Affected by the end of sales campaigns, costs of articles for personal hygiene and beauty products went upward. Prices of child care solutions also increased.

Among other commodity organizations, the most notable rise was signed up in prices of catering services, telecommunication services and wine. But downturn was recorded in prices of beer, spirits and hotel providers.

Compared to 2015, in September 2022 consumer prices were 39. 1 % higher. Prices of goods increased by 42. one % and prices associated with services by 29. 1 %.

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