Deflation strong in April

Latest data released by the Central Statistical Bureau (CSB) shows that in April 2016, compared to April 2015 the average level of consumer prices in Latvia reduced by 0.8%. 

Prices of goods decreased by 1.4%, while prices of services increased by 0.9 %.

"Compared to April 2015, the greatest pressure on the price changes in April 2016 was put by the drop in prices of goods and services related to transport, goods and services related to housing, as well as by the rise in prices of alcoholic beverages and tobacco products, health care, hotel and restaurant services, as well as clothing and footwear," said the CSB.

However, compared to March 2016, in April 2016 the average level of consumer prices rose by 0.4 %. Prices of goods increased by 0.7 %, while prices of services declined by 0.5 %.

The greatest pressure on the consumer prices in April was put by the growth in prices of clothing and footwear, food and non-alcoholic beverages, goods and services related to transport, as well as by the drop in prices in recreation and culture and prices of goods and services related to housing.

As goods of the summer season kept entering the market, prices of footwear rose by 17.1 % and prices of clothing – by 2.6 %.

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Economy
Economy