Topics Topics

Monthly deflation 0.7%, prices stable on year

Data released by Latvia's Central Statistical Bureau show that the the annual average level of consumer prices did not change in August.

Annual data

Prices of goods decreased by 1.2%, while prices of services grew by three percent during this time.

Compared to August 2015, in August 2016 the greatest pressure on the average level of consumer prices was applied by the increase in prices in recreation and culture, prices of alcoholic beverages and tobacco, health care, prices in communication group, and prices of food and non-alcoholic beverages, as well as by the drop in prices of goods and services related to transport, goods and services related to housing, and clothing and footwear.

Compared to the corresponding month of the previous year, in August 2016 the average level of food and non-alcoholic beverage prices increased by 0.5%. Increase was recorded in prices of sugar, fresh vegetables, pork, dried, salted or smoked meat, as well as fish. Whereas reduction was observed in prices of poultry, fresh fruit, milk, cheese and curd, eggs and butter.

Monthly data

Meanwhile, compared to July 2016, in August 2016 the average level of consumer prices reduced by 0.7%.

Prices of goods decreased by one percent, while prices of services rose by 0.2%.

In August, the greatest pressure on the price changes was put by the drop in prices of food and non-alcoholic beverages, goods and services related to transport, clothing and footwear, and prices in miscellaneous goods and services group, as well as by the increase in prices of recreation and culture.

During the month, prices of food and non-alcoholic beverages fell by 1.7%. Within the food group, the drop in prices of fresh vegetables, mainly sweet pepper, tomatoes, cabbages, cucumbers and carrots, had the most notable downward influence on the price changes. Reduction was recorded also in prices of potatoes, fresh fruit, and eggs. Increase, in turn, was observed in prices of poultry, fruit and vegetable juices, pork, fresh or chilled fish.

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

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