"Compared to November 2022, in November 2023 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages (1.0 percentage point), alcoholic beverages and tobacco products (0.5 percentage points), health care (0.5 percentage points), as well as drop in prices of goods and services related to housing (1.8 percentage points) and goods and services related to transport (0.7 percentage points)," said the CSB.
🎄Inflation Christmas tree in Latvia.
— Statistics Latvia (@CSB_Latvia) December 8, 2023
In November annual inflation 1.0 %; monthly 0 %.https://t.co/uHBypijB9g pic.twitter.com/Hn4TuMQEtj
Compared to October 2023, in November 2023 the average level of consumer prices remained unchanged.
Price changes by commodity group (%)
|
Groups |
Price changes in November 2023, compared to: |
||
|
November 2022 |
December |
October |
|
|
Total |
1.0 |
1.4 |
0.0 |
|
food |
3.7 |
2.7 |
1.0 |
|
alcohol, tobacco |
7.5 |
7.7 |
0.2 |
|
clothing, footwear |
3.4 |
5.7 |
-0.1 |
|
housing |
-9.1 |
-9.5 |
-1.6 |
|
furnishings |
5.5 |
6.2 |
1.4 |
|
health |
8.0 |
7.4 |
0.5 |
|
transport |
-5.1 |
0.7 |
-1.6 |
|
communication |
1.9 |
0.2 |
-0.2 |
|
recreation, culture |
4.8 |
3.9 |
-0.4 |
|
education |
7.9 |
7.9 |
0.5 |
|
restaurants, hotels |
7.0 |
6.6 |
-0.7 |
|
miscellaneous |
7.0 |
9.0 |
4.5 |
Responding to the figures, the Ministry of Finance pointed out that Latvia now has one of the lowest rates of inflation in the Eurozone.
"Inflation in Latvia was lower than the average in the Eurozone, placing Latvia in the group of countries with the lowest inflation. Inflation was even lower in November this year only in three eurozone countries - Belgium, Italy and Finland. It should be noted that such a rapid decrease in inflation is largely related to base effects, because at the end of last year the increase in consumer prices in Latvia was one of the highest in the eurozone," said the Ministry.
