Deflation returns in February

Deflation took a firm hold on Latviia in February according to latest data published by the Central Statistics Bureau (CSB) on Tuesday.

Compared to February 2015, in February 2016 the average level of consumer prices reduced by 0.5%.

Prices of goods decreased by 1.2%, while prices of services increased by 1.4%.

During the last 12 months the average level of consumer prices grew by 0.1 %.

"Compared to February 2015, in February 2016 the greatest pressure on the average level of consumer prices was put by the drop in prices of goods and services related to housing, goods and services related to transport as well as by the rise in prices of alcoholic beverages and tobacco products, health care, restaurant and hotel services, recreation and culture, food and non-alcoholic beverages," the CSB said in its data release.

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