When compared with June 2022, the average consumer price level increased by 7.9% in June 2023, according to the latest data published by the Central Statistical Bureau of Latvia.
However, when compared with May, the price level has dropped by 1.4%.
The biggest influence on average consumer price level changes in June 2023, when compared with June 2022, was on food and non-alcoholic beverages (+3.7 percentage points), housing-related goods and services (+2.4 percentage points), leisure and culture related goods and services (+0.6 percentage points), alcoholic beverages and tobacco products (+0.6 percentage points), healthcare (+0.6 percentage points), various goods and services group (+0.6 percentage points), as well as transport-related goods and services (-1.9 percentage points).
In the food and non-alcoholic beverages group prices have increased by 14.4% over the course of the year. The biggest influence on the growth of the average price level was for bread (+31.1%), confectioneries (+12.2%), pasta products (+17.6%). Dried, salted or smoked meat (+13.3%), pork (+14.5%) and other meat products (+11.6%) were more expensive. Prices also increased for cheese and cottage cheese (+12.9%), eggs (+15.4%) and milk (+5.0%).
Over the course of the year prices also increased for fresh vegetables (+24.6%), fresh fruits (+18.1%), coffee (+17.2%).
The price of sugar increased by 50.9% in 12 months.
Prices of ice cream also increased (+20.7%), fruit and vegetable juices (+19.4%), canned or processed fish and other seafood (+19.3%), sparkling beverages (+22.9%), sauces and seasoning (+25.8%).
The average level of prices of alcoholic beverages and tobacco products increased by 8.6%. The price of alcohol grew by 9.3%. Prices went up for strong alcoholic beverages, beer and wine. The average price of tobacco products went up by 7.2%.
The average level of prices of housing-related goods and services went up by 13.1%.
In the healthcare sector the average price level went up by 10.3%. Pharmaceutical products, medical services and dentistry services became more expensive over the course of the year.
Prices of transport-related goods and services went down by 12.4%, which was mainly dictated by the fuel price drop of 26.4%. Diesel fuel became 29.7% cheaper, petrol became 24.2% cheaper, autogas became 10.3% cheaper.
Prices in the goods and services went up by 12.5%, which was significantly influenced by the price rise for personal hygiene and beauty products. Barber shop and beauty salon services became more expensive as well. Prices went up for nursery homes and vehicle insurance services.
In other consumer groups the most notable price rise was observed for restaurant and cafe services, telecommunication services, house cleaning, clothes, catering services and pre-school education.
In June, when compared with May, the average consumer price level went down by 1.4%. The biggest effect on price level changes came from housing-related goods and services (-1.1 percentage points), clothes and footwear (-0.2 percentage points), transport-related goods and services (-0.1 percentage points), certain goods and services group (-0.1 percentage points), as well as healthcare (+0.1 percentage points).
When compared with 2015, consumer prices in June 2023 were 44.1% higher. Prices of goods increased by 45.5% and prices of services increased by 38.2%.
Also read: ZZS: food prices in Latvia keep growing dramatically and already exceed other EU countries’ levels