Traders association: food product prices in Latvia should go down in September

Food prices should go down in Latvia in September, as LETA was told by Latvian Traders Association (LTA), referencing the comparison of prices at various stores around Latvia.
According to the association’s available data, in the dairy products group the price drop ranges between 8% and 39% when compared to September of 2022. The price of milk went down by 39%, the price of kefir went down by 35%, and the price of Russian cheese went down by 23%.
At the same time, in the group of products of animal origin, the price drop was between 14% and 37% over the year.
In the category of bread and cereal products, on the other hand, the price of flour dropped by 15% in September, the price of oatmeal decreased by 74%, and that of rice by 23%. At the same time, the price of bread has increased by 55 to 58%.
The association also notes that the average price of bread was 1.31 EUR/kg in September 2022. The price has since reached EUR 3.1. The price of rye bread has increased 2.2 times – from EUR 1.12 in September 2022 to EUR 2.51 in September 2023.
In the fruits category there was price growth observed for lemons, with the price growing by 11%. At the same time, prices have increased for kiwifruit – by 36%. In the fruit category, prices have fallen and continue to fall only for bananas – currently they cost 1.31 EUR/kg, whereas a year ago the price of bananas was 1.64 EUR/kg and 1.59 EUR/kg this summer.
Information compiled by LTA also indicates that in the vegetables group the price growth ranges between 1% and 9%. Prices are up for long cucumbers (by 49.6%) and tomatoes (17%). At the same time, the price of tomato juice has gone up by 31%.
Prices of all types of oils went down by 18% in September.
In the beverages category prices for still water in September increased by 3%, and for carbonated water – by 8%. For other drinks, the price increase was also observed within the range of 8% to 16%, which is partly explained by the LTA with the introduction of the deposit fee.
The price of coffee went up by 15% in September. The price of tea went up between 13% and 49% depending on the product.
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