Annual inflation in Latvia rises to 7.5% in November

Data published December 8 by the Central Statistical Bureau show that in November 2021, compared to November 2020, the average level of consumer prices increased by 7.5%.

The greatest pressure on the average price level changes in November 2021 compared to November 2020 was put by the rise in prices of goods and services related to housing, goods and services related to transport, prices of food and non-alcoholic beverages, goods and services related to recreation and culture, alcoholic beverages and tobacco products, furnishings as well as health care.

Over the year, prices within the group of food and non-alcoholic beverages increased by 5.6 %. Price rise of fresh vegetables (11.1 %) and potatoes (50.2 %) had the strongest upward influence on the average price level within the group.

The average price level of goods and services related to housing went up by 15.0 %. The most significant price rise was for heat energy, electricity and natural gas. 

Over the year, prices of goods and services related to transport rose by 18.7 %, which was affected by increase in prices of fuels for transport by 39.1 %. Diesel prices rose by 41.2 %, petrol by 35.5 % and auto gas by 44.6 %. An increase of prices was also observed for passenger transport by air, second-hand motor cars, maintenance and repair of personal transport equipment.

Compared to October 2021, in November 2021 the average level of consumer prices increased by 1.1 %. The greatest pressure on the price changes was due to the increase in prices of goods and services related to housing, food and non-alcoholic beverages, goods and services related to transport, in the group of miscellaneous goods and services, as well as the drop in prices of clothing and footwear.

The full report is available on the official statistics website.

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