Consumer prices up 2.7% in June 2021 y/y in Latvia

 Consumer prices up 2.7% in June 2021 y/y in Latvia
In June 2021, the average level of consumer prices in Latvia increased by 2.7% y/y
By bne IntelliNews July 8, 2021

In June 2021, the average level of consumer prices in Latvia increased by 2.7% y/y, the Central Statistical Bureau said on July 8.

Meanwhile m/m, consumer prices in June rose 0.3%.

The greatest pressure on the price changes was put by the rise of prices in the group of miscellaneous goods and services, goods and services related to transport, restaurant and hotel services, furnishings, as well as by the fall in prices of food and non-alcoholic beverages, clothing and footwear.

Over the month, the average price level of food and non-alcoholic beverages dropped by 0.3%. The most significant decrease in this group was for the prices of fresh vegetables (9.8%). Due to the seasonal factors prices fell for fresh fruit (4.1%) but rose for potatoes a staggering 36.9%.

In the group of clothing and footwear, prices decreased by 0.2%. Due to the sales, the prices of footwear dropped on average by 0.5% and for garments on average by 0.1%.

The average level of restaurant and hotel service prices increased by 1.2%. Restaurant and café service prices went up by 1.1% and hotel service prices by 6.7%.

Among other commodity groups, the most notable rise was registered in prices of electricity, personal computers, medical specialist practice; in turn, prices for flowers, heat energy, rentals for housing and pet food dropped.

Compared to June 2020, in June 2021 the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to transport, food and non-alcoholic beverages, clothing and footwear, alcoholic beverages and tobacco products, health care, goods and services related to recreation and culture.

In the health care group, the prices increased by 2.8%. Growth was registered in prices of dental services and in prices of medical specialist practice. In turn, prices of pharmaceutical products, mainly reimbursable medical products, decreased.

Over the year, prices of goods and services related to transport rose by 8.3%, which was affected by an increase in price of fuels for transport by 19.9%.

Among other commodity groups, the most notable increase was registered in prices of catering services, telecommunication services, services for the maintenance and repair of the dwelling, electricity, furnishings, household cleaning and maintenance products, hairdressing salons and personal grooming establishment services, rentals for housing. In turn, fall in prices was for heat energy, motor vehicle insurance.

 

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