Average inflation in 2016 was 0.1%

Compared to the average consumer price level of the 12 months of 2015, Latvia's average consumer price level of the 12 months of 2016 increased by just 0.1% according to figures released January 11.

The latest data of the Central Statistical Bureau (CSB) show that during the year in December 2016, compared to December 2015 the average level of consumer prices increased by 2.2%. Prices of goods grew by 1.7 % and prices of services by 3.4%.

Compared to November 2016, in December 2016 the average level of consumer prices rose by 0.6%. Prices of goods went up by 0.5%, and prices of services by 0.8%.

In December the greatest pressure on the consumer price changes was put by the growth in prices of food and non-alcoholic beverages, goods and services related to transport, goods and services related to housing.

An Economics Ministry commentary said globally low prices for fuel and foodstuffs were major factors.

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