Compared with March 2022, the average consumer price level in Latvia has increased by 17.3% in March 2023, according to data compiled by the Central Statistical Bureau of Latvia (CSP).
CSP reports that the biggest effect on the average price level this year came from housing-related goods and services (6.5 percentage points), food and non-alcoholic beverages (6.4 percentage points), leisure and culture-related goods and services (0.8 percentage points), various goods and service group (0.8 percentage points), alcoholic beverages and tobacco products (0.7 percentage points).
In the food and non-alcoholic beverage group prices have increased by 24.1% over the course of the year.
A major impact on the average price level was from bread – by 38.5%. The same can be said for confectioneries (22.7%), flour and other grains (24.9%), pasta products (21.8%), rice (20.7%) and breakfast cereals (15.8%).
In the meat products group the most expensive goods were dried, salted or smoked meats (26.8%), domestic fowl (23.9%), pork (21.8%), meat products (20.6%), and beef (20.8%).
CSP data indicates that over the course of the year prices have also increased for cheese and curd cheese (19.6%), various dairy products (17%), milk (12.1%) and yoghurt (11.5%).
Prices also increased for fresh vegetables (36.8%), coffee (24.7%), fresh fruits (16%), sugar (70.3%), ice cream (24.1%), chocolate (19.7%), canned or processed fish and marine products in general (27.9%).
CSP also mentions that prices are also up for fruit and vegetable juices (27.7%), sauces and spices (41%), vegetable oil (22.4%), and butter (14.9%). Prices are up for refreshments (21.6%), dried and otherwise preserved or processed vegetables (21.9%), frozen fish (31.2%).
The average price level for alcoholic beverages and tobacco products increased by 9%, according to data from CSP.
Prices of tobacco products increased by an average of 6.9%.
The average price of housing-related goods and services increased by 40.2%
The most significant price surge was observed for heating energy – by 62.3%, and electricity – 60.2%.
The price for solid fuels has increased by 58% and that of gas has increased by 79.5%. A significant price increase was also observed for water supply, sewer services, housing management and repair services.
In the healthcare sector the average price level increased by 9.9%.
Over the course of the year there was also an increase of prices for pharmaceutical products, dentistry, and specialised medical care.
The prices of various goods and services increased by 15.6%, which was influenced by price growth per personal hygiene goods and beauty products.
Fuel prices have gone down by 7.5%.
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