Over the year, the average level of consumer prices rose by 1.4 %

The latest Central Statistical Bureau data show that in June 2024, compared to June 2023, the average level of consumer prices* increased by 1.4 %.

Compared to June 2023, in June 2024 the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to transport (0.7 percentage points), alcoholic beverages and tobacco products (0.5 percentage points), food and non-alcoholic beverages (0.4 percentage points), health care (0.3 percentage points), as well as drop in prices of goods and services related to housing (1.6 percentage points).

Over the year, prices within the group of food and non-alcoholic beverages increased by 1.5 %. Price rise for potatoes (29.0 %), bakery products (6.9 %), and olive oil (37.2 %) had the strongest upward influence on the average price level within the group. Growth was recorded in prices of chocolate (9.0 %), fruit and vegetable juices (12.3 %), sweets (17.1 %), and coffee (3.0 %). Prices also increased for dried, salted or smoked meat (1.7 %), butter (6.1 %), preserved or processed fish and seafood-based preparations (6.8 %), soft drinks (8.8 %), fresh and chilled fish (8.5 %), fresh fruit (+1.5 %), pork (1.6 %). Decline, however, was registered in prices of flours and other cereals (12.0 %), cheese and curd (3.3 %), bread (1.9 %), fresh vegetables (1.7 %), eggs (6.2 %), milk products (3.6 %), sugar (11.7 %), vegetable oil (5.9 %). 

The average level of alcoholic beverage and tobacco product prices rose by 6.8 % over the year. Prices of tobacco products went up by 11.7 % whereas prices of alcoholic beverages, as prices of spirits, beer and wine went up, grew by 4.2 %.

The average level of prices of goods and services related to housing reduced by 8.4 %. The most significant drop over the year was registered in prices of heat energy (16.8 %) and electricity (19.4 %). Decline was registered in prices of solid fuels (11.1 %) and natural gas (7.6 %) whereas maintenance charges in multi-occupied buildings went up (7.6 %), as did the prices of refuse collection (13.4 %), rentals for housing (5.8 %), water supply (6.3 %), services for the maintenance and repair of the dwelling (5.5 %), and sewage collection (4.2 %).

Within the health care group, the average level of prices grew by 5.3 % over the year. Rise was registered in prices of pharmaceutical products, dental services, in medical specialist practice, and of services of medical analysis laboratories and x-ray centres.

Driven by a 6.8 % rise in prices of fuels for transport, prices of goods and services related to transport grew by 5.1 %. Prices of diesel went up by 10.5 % and of petrol by 4.3 % while prices of auto gas down by 3.4 %. Maintenance and repair of personal transport equipment, passenger transport by road, and passenger transport by train became more expensive during the year whereas prices of second-hand motor cars reduced.

Among other commodity groups, the most significant rise was registered in prices of garments, telecommunication services, household cleaning and maintenance products, restaurant and hotel services, television subscription fee, as well as canteen services while reduction in prices of personal computers and mobile telephone equipment.

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

Compared to May 2024, in June 2024 the average level of consumer prices reduced by 0.1 %. Reduction in prices of goods and services related to transport (0.2 percentage points), within miscellaneous goods and services group (0.1 percentage points), of clothing and footwear (0.1 percentage points), goods and services related to housing (0.1 percentage points) as well as rise in prices of food and non-alcoholic beverages (0.2 percentage points), goods and services related to recreation and culture (0.1 percentage points) had the most significant impact on the monthly price changes.

Over the month, prices of food and non-alcoholic beverages grew by 0.6 %. Along with the continuous supply of newly harvested potatoes, potato prices had the sharpest rise within the group (of 24.7 %). End of special offers resulted in higher prices of fresh fruit (2.5 %), dried, salted or smoked meat (1.3 %), cheese and curd (1.1 %), chocolate (2.6 %), poultry (1.0 %), and meat preparations (1.9 %). Coffee and pork became more expensive as well (up by 2.6 % and 1.0 %, respectively) while prices of fresh vegetables reduced (4.7 %). Due to discounts, reduction was registered in prices of milk products (3.0 %), eggs (2.3 %), bread (0.5 %), ice cream (2.6 %), and yoghurt (2.1 %).

Prices within the clothing and footwear group fell by 1.7 %. The average level of footwear prices, mainly because of special offers, went down by 3.8 % and of garment prices by 1.2 %.

The average level of prices for goods and services related to housing reduced by 0.5 % during the month. The most significant drop within the group was registered in prices of heat energy (3.9 %). Increase, however, was registered in prices of electricity (1.4 %), water supply (3.8 %), sewage collection (2.0 %), and rentals for housing (1.1 %).

Mainly because of lower fuel prices (down by 4.1 %), prices of goods and services related to transport fell by 1.1 %. Prices of diesel reduced by 4.3 %, of petrol by 4.1 %, and of auto gas by 1.0 %. Prices of passenger transport by air, however, went up.

Driven by more expensive package holidays, fiction books, and pet food, prices of goods and services related to recreation and culture increased by 1.5 %.

Prices within the miscellaneous goods and services group decreased by 2.9 %. Mainly due to special offers, reduction was registered in prices of articles for personal hygiene and beauty products as well as non-electrical appliances for personal care.

Among other commodity groups, the most notable decline was recorded in prices of household cleaning and maintenance products as well as beer. Increase, however, was recorded in prices of tobacco products, hotel services, telecommunication services, as well as restaurant and café services.

Price changes by commodity group

(per cent)

Compared to 2015, in June 2024 consumer prices were 46.1 % higher. Prices of goods increased by 45.3 % and of services by 46.3 %.

Information on consumer price changes in July 2024 will be published on 8 August.

* 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