Over the year, the average level of consumer prices rose by 0.4 %

The latest data of the Central Statistical Bureau show that in February 2024, compared to February 2023, the average level of consumer prices* increased by 0.4 %.

Compared to February 2023, in February 2024 the average level of consumer prices was mainly influenced by the rise in prices of health care (0.4 percentage points), food and non-alcoholic beverages (0.4 percentage points), alcoholic beverages and tobacco products (0.4 percentage points), as well as drop in prices of goods and services related to housing (1.5 percentage points).

Over the year, prices within the group of food and non-alcoholic beverages increased by 1.5 %. Price rise for pork (8.8 %), dried, salted or smoked meat (4.6 %), meat preparations (3.5 %) had the strongest upward influence on the average price level within the group. Prices increased for fresh vegetables (5.3 %), olive oil (29.9 %), bakery products (4.4 %), fresh fruit (3.8 %), bread (2.2 %), sweets (21.1 %), fruit and vegetable juices (10.4 %), potatoes (11.5 %), coffee (2.4 %), ice cream (6.5 %), chocolate (4.0 %). In turn, fall was registered in prices of milk products (10.6 %), milk (9.1 %), cheese and curd (4.5 %), flours and other cereals (9.8 %), vegetable oil (15.6 %), eggs (5.7 %), yoghurt (4.5 %), as well as butter (6.3 %).

The average level of alcoholic beverage and tobacco product prices rose by 5.0 %. As prices of spirits, beer and wine went up, alcoholic beverages became more expensive (5.0 %). Over the year average increase of 5.0 % was observed in prices of tobacco products.

Average price level of goods and services related to housing fell by 8.1 %. Over the year, the most significant drop in the prices was for heat energy (19.4 %). Prices went down for electricity (7.3 %), solid fuels (17.3 %), natural gas (19.2 %), sewage collection (12.2 %) and water supply (3.1 %). In turn, maintenance charges in multi-occupied buildings (+7.5 %), rentals for housing (+9.8 %) and refuse collection (+16.2 %) became more expensive. Increase was recorded in services for the maintenance and repair of the dwelling.

The average level of health care prices grew by 6.7 %. Over the year, prices of pharmaceutical products, dental services, prices in medical specialist practice and services of medical analysis laboratories and x-ray centres went up.

The average level of restaurant and hotel service prices increased by 5.7 %. Upturn was observed in prices of catering services, of which prices of restaurant and café services rose by 6.3 %, of canteen services by 5.5 % and of fast food services by 4.8 %. Over the year, prices of hotel services also went up.

Within the miscellaneous goods and services group, prices increased by 4.6 %, which was mainly affected by the rise in prices of articles for personal hygiene and beauty products. Hairdressing salons and personal grooming establishment services and retirement home fee for elderly persons were more expensive as well.

Among other commodity groups, the most notable rise was registered in prices of household cleaning and maintenance products, television subscription fee, maintenance and repair of personal transport equipment, garments, pet food, bundled telecommunication services. In turn, fuels for transport (1.8 %) and personal computers were cheaper.

Over the month, the average level of consumer prices rose by 0.1 %.

Compared to January 2024, in February 2024 the average level of consumer prices increased by 0.1 %. Rise in prices of goods and services related to transport (0.3 percentage points), goods and services related to recreation and culture (0.1 percentage point), as well as drop in prices of goods and services related to housing (0.1 percentage point), miscellaneous goods and services group (0.1 percentage point), clothing and footwear (0.1 percentage point) contributed the most to the price level changes.

Over the month, prices of food and non-alcoholic beverages declined by 0.2 %. Due to the special offers the average price level of cheese and curd dropped by 3.6 %, of coffee by 3.8 %, of bread by 1.2 %, mainly of wheat bread, of milk products by 2.4 %, mainly of sour cream, of vegetable oil by 3.9 % and of yoghurt by 1.6 %. Prices of flours and other cereals went down (3.6 %). The average level of fresh fruit prices fell by 1.4 %. In turn, price rise was registered for fresh vegetables (2.6 %) and potatoes (7.9 %). Due to the end of special offers, increase was recorded in prices of eggs (5.8 %), poultry (2.1 %), chocolate (2.2 %), milk (1.2 %), sweets (3.5 %) and meat preparations (1.4 %). Over the month, upturn was also recorded in prices of fruit and vegetable juices (5.8 %) and soft drinks (3.5 %).

Prices within clothing and footwear group fell by 1.3 %. Affected by discounts and sales of winter goods, the average price level of footwear dropped by 4.3 % and of garments – by 0.3 %.

Average price level of goods and services related to housing fell by 0.8 %. During the month the most significant price drop within the group was registered for electricity (4.1 %) and heat energy (0.3 %). In turn prices of refuse collection on average increased by 2.7 %.

Within the health care group prices rose by 0.6 %. Prices of pharmaceutical products, dental services and prices in medical specialist practice went up.

Prices of goods and services related to transport increased by 2.6 %, which was mainly affected by the rise in prices of fuels for transport by 5.0 %. Prices of diesel increased by 5.5 %, of petrol by 4.9 %, but of auto gas by 1.0 %. Prices of passenger transport by air went up.

Prices of goods and services related to recreation and culture rose by 1.8 %, as prices of television subscription fee, flowers, package holidays and pet food increased. In turn, fall was registered in prices of personal computers.

Within the miscellaneous goods and services group prices decreased by 1.6 %. Prices of articles for personal hygiene and beauty products went down, which was mainly affected by the discounts. Prices of child care services also reduced. In turn, from 12 February personal identification document issuance fee increased.

Among other commodity groups, the most notable rise was registered in prices of bundled telecommunication services, in turn, fall was registered in prices of pre-primary education, household cleaning and maintenance products, spirits and household furniture.

Price changes by commodity group

(as per cent)

Compared to 2015, in February 2024 consumer prices were 43.4 % higher. Prices of goods increased by 43.7 % and prices of services by 40.5 %.

Information on consumer price changes in March 2024 will be published on 9 April.

*The annual inflation reflects consumer price changes, comparing the average price level in the comparison month with the average price level in the corresponding month of the previous year.

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Communication Section
E-mail: media@csp.gov.lv
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More information on data:
Nataļja Dubkova
Consumer Price Indices Section
E-mail: Natalja.Dubkova@csp.gov.lv
Phone: +371 67366644