The average level of consumer prices increased by 1.1% during the year

The average level of consumer prices increased by 1.1% during the year
The average level of consumer prices increased by 1.1% during the year
--

The biggest impact on changes in the average consumer price level in April 2024 compared to April 2023 was for transport-related goods and services (+0.4 percentage points), alcoholic beverages and tobacco products (+0.4 percentage points), health care (+0.4 percentage points), as well as housing-related goods and services (-1.1 percentage points).

In the group of food and non-alcoholic beverages, prices increased by 0.6% during the year. Olive oil (+29.1%), confectionery (+4.5%), pork (+5.2%) had the most significant impact on the increase in the average price level in the group. Potatoes (+16.7%), fruit and vegetable juices (+12.4%), sweets (+18.5%) were more expensive. Prices increased for soft drinks (+10.6%), dried, salted or smoked meat (+1.3%), milk (+1.6%), breakfast cereals (+12.1%), chocolate (+3, 2%), dried, otherwise preserved or processed vegetables (+7.0%), fresh fruit (+0.8%).

On the other hand, fresh vegetables (-5.5%), flour and other cereals (-11.2%), dairy products (-3.8%), eggs (-6.0%), sugar (-11.1 %), pasta (-7.1%), vegetable oil (-8.0%), butter (-4.9%), cheese and cottage cheese (-1.0%).

The average price level of alcoholic beverages and tobacco products increased by 5.9%. The prices of alcoholic beverages rose by 4.8%, as the price of strong alcoholic beverages, beer and wine increased. Prices of tobacco products increased by an average of 7.9% during the year.

The average price level of housing-related goods and services decreased by 6.1%. During the year, the most significant price drop was for thermal energy (-17.7%). Prices decreased for natural gas (-19.2%), electricity (-4.0%), solid fuel (-12.1%), sewage services (-5.0%). On the other hand, housing management services (+7.5%), garbage collection (+16.2%), housing rent (+6.9%) became more expensive. Housing maintenance and repair services, water supply were also more expensive.

According to CSB data, the average price level in the health care group increased by 6.4%. During the year, pharmaceutical products, dental services, services of medical specialists and services of medical analysis laboratories and radiology centers became more expensive.

Prices for transport-related goods and services increased by 3.2%, driven by a 4.5% increase in fuel prices. Diesel fuel remained more expensive by 7.6%, gasoline by 2.6%, while auto gas remained cheaper by 8.3%. During the year, prices also increased for maintenance and repair of personal vehicles, passenger transportation by road, other services for personal vehicles, and passenger transportation by train. On the other hand, prices fell for passenger air transportation and used cars.

In the other consumption groups, the most significant price increase was for clothes, telecommunication services, restaurant and cafe services, home cleaning and care products, and television subscription fees. On the other hand, personal computers, shoes, personal hygiene products and beauty products were cheaper.

CSB data show that in April of this year, compared to March, the average level of consumer prices increased by 0.5%. Clothing and footwear (+0.4 percentage points), alcoholic beverages and tobacco products (+0.2 percentage points), as well as the group of various goods and services (-0.2 percentage points) had the most significant impact on price level changes.

During the month, the prices of food and non-alcoholic beverages increased by 0.3%. Poultry meat (+2.9%) had the most significant impact on the increase in the average price level. Mainly due to closing of promotions, prices increased for confectionery (+2.5%), bread (+1.1%), chocolate (+3.8%), dried, salted or smoked meat (+0.8%), potatoes ( +3.9%), for eggs (+1.8%).

Breakfast cereals (+8.7%), fresh or chilled fish (+5.3%), olive oil (+4.3%) and pork (+0.8%) were more expensive. On the other hand, cheese and cottage cheese (-2.7%), coffee (-2.1%) fell under the influence of stocks. Fresh vegetables (-1.2%), fresh fruit (-1.5%), sugar (-4.0%), flour and other cereals (-2.0%) were cheaper.

The average price level of alcoholic beverages and tobacco products increased by 2.1%. Tobacco products became more expensive on average by 7.5%. The prices of alcoholic beverages decreased by 0.5%, which was mainly influenced by promotions for strong alcoholic beverages.

Prices in the clothing and footwear group increased by 7.9%. As the arrival of spring-summer season goods continued, the prices of shoes increased by 19.3%, while clothes became more expensive by 5.3%.

The average price level of housing-related goods and services decreased by 0.4%. The most significant price drop in the group during the month was for electricity (-1.3%), solid fuel (-2.3%) and heat (-0.3%). On the other hand, prices increased for housing rent (+2.0%).

Transport-related goods and services became more expensive by 0.7%, which was mainly determined by the increase in prices for passenger transport by road. Fuel prices rose by 0.6%, including gasoline – by 2.0%, auto gas – by 0.4%, while diesel prices decreased by 0.5%. Passenger transport by train was also more expensive. On the other hand, the price reduction was for passenger air transportation.

The prices of goods and services related to leisure and culture decreased by 1.1%. Flowers and complex leisure services were cheaper.

In the group of various goods and services, prices decreased by 3.4%. Personal hygiene products and beauty care products, non-electric devices for personal care were mainly cheaper due to the promotions.

In the other consumption groups, the most significant price increase was for dental services, hotel services, preschool education, pharmaceutical products and home furniture. On the other hand, the prices of home cleaning and care products decreased.

CSB data show that, compared to 2015, consumer prices in April 2024 were 45.9% higher. Prices for goods increased by 46.0%, and for services – by 43.6%.


The article is in Latvian

Tags: average level consumer prices increased year

-

PREV The average level of consumer prices increased by 1.1% during the year
NEXT SuperSport Schools Plus | Candies out to make early inroads vs Hilton, St Alban’s returns from Europe