Latvian inflation rate rose sharply in February

The latest data published by the Central Statistical Bureau (CSB) on March 8 show that in February 2022, compared to February 2021, the average level of consumer prices increased by 8.7 %.

"The greatest pressure on the average price level change in February 2022 compared to February 2021 was put by the rise in prices of food and non-alcoholic beverages, goods and services related to housing, goods and services related to transport, alcoholic beverages and tobacco products, goods and services related to recreation and culture, clothing and footwear, health care as well as furnishings," said the CSB.

Over the year, prices of goods and services related to transport increased by 14.3 %, which was affected by the rise in prices of fuels for transport by 26.6 %. Diesel prices rose by 25.3 %, petrol by 26.0 % and auto gas by 39.2 %. Prices increased for motor cars, maintenance and repair of personal transport equipment as well as spare parts and accessories for personal transport equipment.

 

In February 2022, compared to January 2022, the average level of consumer prices accelerated sharply, with an increase of 1.6 %.

The greatest pressure on the average price level change was put by the rise in prices of food and non-alcoholic beverages, goods and services related to transport, goods and services related to housing, alcoholic beverages and tobacco products, goods and services related to recreation and culture, as well as the drop in prices of clothing and footwear.

During the month, prices for food and non-alcoholic beverages increased by 3.5 %. Price rise of fresh fruit (8.9 %) and fresh vegetables (7.0 %) had the strongest upward influence on the average price level within the group. Prices rose for cheese and curd (5.0 %), milk (7.7 %), milk products (4.8 %). More expensive were poultry (4.2 %), flour and other cereals (6.4 %), yoghurt (6.2 %), bread (1.5 %). Prices increased also for meat preparations (4.3 %), bakery products (1.7 %), fruit and vegetable juices (3.6 %), as well as pasta products (5.2 %). Prices went up for dried, salted or smoked meat (0.8 %), olive oil (7.2 %), fresh or chilled fish (4.9 %), ice cream (2.0 %) and sugar (3.8 %). Due to the end of promotions prices increased for coffee (4.6 %), vegetable oil (4.9 %) and rice (6.6 %).

Price changes by commodity group (as per cent)

Groups

Price changes in February 2022, compared to:

February 2021

December 2021

January 2022

Total

8.7

1.6

1.6

food

11.8

5.5

3.5

alcohol, tobacco

4.6

1.8

1.9

clothing, footwear

5.4

-4.9

-1.6

housing

11.2

-3.4

1.0

furnishings

6.2

2.9

0.1

health

4.2

2.2

0.9

transport

14.3

3.2

2.7

communication

1.4

0.4

-0.1

recreation, culture

4.0

0.8

1.0

education

-0.7

-4.3

0.0

restaurants, hotels

6.2

1.8

1.1

miscellaneous

4.3

2.4

-0.7

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Most important

Please be aware that the LSM portal uses cookies. By continuing to use this site, you agree that we may store and use cookies on your device. Find out more

Accept and continue