Annual inflation in Latvia reaches 3.4%
Compared to April 2016, the average level of consumer prices increased by 3.4 % in April 2017. Prices of goods grew by 3.2 % and prices of services by 4.0 %.
Compared to April 2016, the greatest pressure on the price changes 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, as well as prices in miscellaneous goods and services group and communication group in April 2017, according to data from the Central Statistical Bureau of Latvia.
The average level of food and non-alcoholic beverage prices has increased by 5.3 %. Rise was recorded in prices of milk products, fresh vegetables, cheese and curd, milk, sugar, butter, bakery products, dried, salted or smoked meat, chocolate and bread.
Prices of goods and services related to housing grew by 2.4 %. Increase was recorded in maintenance charges in multioccupied buildings, prices of heat energy and refuse collection, whereas drop was observed in prices of natural gas. Prices of goods and services related to transport went up by 4.7 %, which was mainly because of the rise in prices of fuels for transport (of +11.5 %) and maintenance and repair of personal transport equipment. Prices of passenger transport by road, in its turn, fell.
The average level of prices in communication group rose by 7.4 %, which was mostly affected by the growth in prices of wired and wireless telephone services. Within other commodity groups, the most significant growth was recorded in prices of tobacco products, articles for personal hygiene and beauty products, package holidays, motor vehicle insurance, as well as restaurant and café services. Compared to March 2017, in April 2017 the average level of consumer prices grew by 0.4 %. Prices of both goods and services went up by 0.4 %.