In Latvia, the average consumer price level in November this year, compared to November 2019, decreased by 0.7%, according to the latest data of the Central Statistical Bureau (CSB). Prices for goods decreased by 1.6%, but for services increased by 1.4%.
The main impact on the change in the average consumer price level in November 2020 compared to November 2019 was the fall in prices for housing-related goods and services, transport-related goods and services, clothing and footwear, and the rise in prices for food and non-alcoholic beverages, recreational and cultural goods and services, healthcare, alcoholic and tobacco products, restaurant and hotel services.
In the group of food and non-alcoholic beverages, prices increased by 1.6% during the year, which was most significantly affected by the increase in the average price level for dried, salted or smoked meat (+ 5%) and meat products (+ 7%). The price level also increased during the year for fresh vegetables (+ 3.3%), confectionery (+ 3.3%), bread (+ 2.3%), fresh fruit (+ 3.3%), buckwheat (+19, 9%), breakfast cereals (+ 11.2%) and chocolate (+ 4.2%). Poultry meat (-2.8%), potatoes (-10.3%) and yogurt (-4.7%) were cheaper.
The average price level of alcoholic beverages and tobacco products increased by 1.3% over the year. Tobacco products became more expensive by 2.9%. Prices of alcoholic beverages increased on average by 0.4%, mainly due to higher prices of spirits (+ 2.7%). Prices decreased for beer (-2.5%) and wine (-1.4%).
The average price level of clothing and footwear decreased by 3.1%. Clothing prices fell on average by 2.3%, but footwear prices – by 6.1%.
Prices for housing-related goods and services decreased by 4.6%. The decrease in prices was mainly due to cheaper heat energy, natural gas, electricity, housing rent and solid fuel. In turn, housing management services, as well as housing maintenance and repair services became more expensive.
In the health care group, the average price level increased by 3.2% during the year. The increase in the price level was influenced by the rise in prices for dental services, general medical practice services and medical specialist services. In turn, pharmaceutical products were cheaper.
Prices for transport-related goods and services decreased by 5.3%, which was influenced by a decrease in fuel prices by 13.9%.
Diesel prices fell by an average of 17.1%, petrol by 10.8% and car gas by 5.0%. Passenger air transport became cheaper. During the year, prices increased for road passenger transport, sea passenger transport, as well as maintenance and repair of personal transport equipment.
Goods and services related to recreation and culture became more expensive by 2.3%. During the year, the average price level increased for cultural services, personal computers and pet food. Complex leisure services were cheaper.
The average price level of restaurant and hotel services increased by 1.8%. The increase in prices was mainly determined by catering services, including the average price level during the year for canteen services – by 5.1%, but for restaurant and cafe services – by 2.1%. In turn, hotel services were cheaper (-10.6%).
In other consumer groups, the most significant decline in prices was for motor insurance, while prices for telecommunications services increased.
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