The latest data of the Central Statistical Bureau show that in March 2022, compared to March 2021, the average level of consumer prices increased by 11.5 %.
Compared to March 2021, the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages, goods and services related to transport, goods and services related to housing, within the miscellaneous goods and services group, health care, alcoholic beverages and tobacco products, goods and services related to recreation and culture, furnishings in March 2022, according to data compiled by the Central Statistical Bureau of Latvia.
Over the year, prices within the group of food and non-alcoholic beverages increased by 14.7 %.
Price rise of fresh vegetables (of 22.0 %) and potatoes (58.6 %) had the strongest upward influence on the average price level within the group. Increase was recorded in prices of cheese and curd (23.1 %), milk products (24.2 %), milk (23.3 %), yoghurt (24.9 %). Upturn was recorded in prices of bread (of 13.7 %), flours and other cereals (39.0 %), bakery products (7.8 %), pasta products (23.2 %) as well as rice (25.2 %). Prices rose for poultry (of 19.1 %), fresh fruit (14.8 %), coffee (14.8 %), vegetable oil (37.1 %), ice cream (20.1 %), dried, salted or smoked meat (3.8 %), meat preparations (11.2 %), butter (14.0 %), sugar (16.4 %), jams and honey (12.4 %), preserved or processed fish and seafood-based preparations (9.6 %), chocolate (6.2 %), fresh or chilled fish (11.7 %), fruit and vegetable juices (6.7 %), salt and spices (19.6 %) and olive oil (15.2 %). Decline, in turn, was registered in prices of pork (of 4.6 %).
The average level of alcoholic beverage and tobacco product prices rose by 4.0 %. Over the year, prices of tobacco products increased on average by 6.1 %. As prices of spirits, wine and beer went up, prices of alcoholic beverages increased by 2.8 %.
Average level of prices of goods and services related to housing rose by 14.5 %. Over the year, the most significant rise in the prices was for heat energy and natural gas. Increase was recorded in prices of solid fuels, refuse collection, materials for the maintenance and repair of the dwelling, services for the maintenance and repair of dwelling, rentals for housing, sewage collection, maintenance charges in multi-occupied buildings as well as water supply.
Within the furnishings group prices rose on average by 7.4 %, mainly due to the growth in prices of household furniture, household cleaning and maintenance products, household appliances, non-electric kitchen utensils and articles.
The average level of health care prices grew by 5.5 %.
Growth was registered in prices of dental services, prices in medical specialist practice and pharmaceutical products.
Prices of goods and services related to transport increased by 22.9 %, which was determined by the rise in prices of fuels for transport by 43.3 %. Prices of diesel rose by 45.7 %, of petrol – by 40.5 %, but of auto gas – by 35.8 %. There was an increase in the average level of prices for motor cars, maintenance and repair of personal transport equipment as well as spare parts and accessories for personal transport equipment.
Among other commodity groups, the most notable rise was registered in prices of catering services, garments, footwear and telecommunication services.
Compared to February 2022, in March 2022 the average level of consumer prices increased by 3.3 %. The greatest pressure on the average price level change was put by the rise in prices of goods and services related to transport, food and non-alcoholic beverages, goods and services related to housing, clothing and footwear, within the miscellaneous goods and services group, goods and services related to recreation and culture, alcoholic beverages and tobacco products.
Over the month, prices of food and non-alcoholic beverages grew by 2.6 %. Price rise of coffee (of 6.6 %), fresh vegetables (4.8 %), bread (2.5 %) and fresh fruit (2.5 %) had the strongest upward influence on the average price level within the group. More expensive were poultry (4.1 %), pork (3.4 %), beef (5.4 %) and meat preparations (1.6 %). Prices rose for cheese and curd (3.0 %), milk products (3.1 %) and milk (3.5 %). Due to the end of promotions, upturn was recorded in prices of ice cream (5.3 %), vegetable oil (8.0 %) and chocolate (3.4 %). Prices increased also for salt and spices (10.5 %), jams and honey (4.7 %), sugar (5.0 %), flours and other cereals (2.1 %), fresh or chilled fish (4.0 %) and pasta products (3.1 %).
The average level of alcoholic beverage and tobacco product prices went up by 0.9 %, which was mainly influenced by the increase in prices of tobacco products (of 1.3 %). As the sales campaigns ended and prices of wine (of 2.5 %) and beer (0.4 %) rose, prices of alcoholic beverages went up by 0.6 %.
The average level of clothing and footwear prices in March went up by 7.0 %, which was affected by the goods of the new spring season entering the market. Prices of garments increased by 6.7 %, but of footwear – by 8.2 %.
Average level of prices of goods and services related to housing rose by 2.8 %. Prices rose for electricity, solid fuels, heat energy, as well as materials for the maintenance and repair of the dwelling.
Prices of goods and services related to transport increased by 9.4 %, which was mainly affected by the rise in prices of fuels for transport by 17.1 %. Prices of diesel rose by 20.3 %, of petrol – by 15.0 %, but of auto gas – by 2.5 %. Prices of passenger transport by air, spare parts and accessories for personal transport equipment went up.
Among other commodity groups, the most notable rise was registered in prices of household cleaning and maintenance products, medical specialist practice, dental services, restaurant and café services and telecommunication services.
Compared to 2015, in March 2022 consumer prices were 22.7 % higher. Prices of goods increased by 22.7 % and prices of services by 21.4 %.
Everything is so expensive now. Inflation in Latvia – 11.5%
