Over the year, the average level of consumer prices rose by 0.7 %

The latest data of the Central Statistical Bureau show that in August 2024, compared to August 2023, the average level of consumer prices* increased by 0.7 %.

Compared to August 2023, in August 2024 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages (0.9 percentage points), alcoholic beverages and tobacco products (0.5 percentage points), health care (0.4 percentage points), as well as drop in prices of goods and services related to housing (1.9 percentage points).

Over the year, prices within the group of food and non-alcoholic beverages increased by 3.5 %. Price rise of fresh vegetables (11.4 %) and bakery products (8.0 %) had the strongest upward influence on the average price level within the group. Upturn was recorded in prices of milk (11.0 %), olive oil (32.1 %), fresh fruit (4.3 %), potatoes (16.4 %), butter (14.2 %), fruit and vegetable juices (12.4 %), chocolate (8.2 %), sweets (17.8 %). Prices increased for milk products (3.3 %), preserved or processed fish and seafood-based preparations (10.6 %), dried, salted or smoked meat (1.5 %), poultry (2.0 %). In turn, fall was registered in prices of sugar (20.7 %), flours and other cereals (8.8 %), eggs (4.1 %), pasta products (6.0 %).

The average level of alcoholic beverage and tobacco product prices rose by 7.0 %. Over the year average increase of 13.1 % was observed in prices of tobacco products. As prices of spirits, beer and wine went up, alcoholic beverages became more expensive (3.8 %).

Within the clothing and footwear group, the average level of prices went up by 3.0 %. Prices of garments on average increased by 3.6 %, but of footwear – by 1.2 %.

Average price level of goods and services related to housing fell by 10.0 %. Over the year, the most significant fall in the prices was for electricity (28.6 %) and heat energy (13.1 %). Prices went down for solid fuels (6.4 %) and natural gas (7.6 %). In turn, maintenance charges in multi-occupied buildings (7.5 %), rentals for housing (7.2 %), refuse collection (10.4 %), water supply (5.8 %), services for the maintenance and repair of the dwelling (5.1 %) became more expensive.

The average level of health care prices grew by 5.6 %. Over the year, prices of pharmaceutical products, dental services, prices in medical specialist practice, services of medical analysis laboratories and x-ray centres went up.

Prices of goods and services related to recreation and culture rose by 3.6 %, as prices of flowers, television subscription fee, pet food, newspapers and magazines increased. In turn, prices of personal computers fell.

Among other commodity groups, the most notable rise was registered in prices of telecommunication services, passenger transport by road, maintenance and repair of personal transport equipment, restaurant and café services. In turn, prices of fuels for transport reduced (by 4.4 %).

During the month, the average level of consumer prices fell by 0.5 %.

Compared to July 2024, in August 2024 the average level of consumer prices reduced by 0.5 %. Drop in prices of goods and services related to transport (0.3 percentage points), food and non-alcoholic beverages (0.2 percentage points), miscellaneous goods and services group (0.1 percentage point), clothing and footwear (0.1 percentage point), as well as rise in prices of goods and services related to housing (0.1 percentage point), restaurant and hotel services (0.1 percentage point) contributed the most to the price level changes.

Over the month, prices of food and non-alcoholic beverages declined by 0.8 %. Under the influence of seasonal factors fresh vegetables (8.1 %) and potatoes (13.6 %) had the most significant price drop. Due to the discounts, prices of cheese and curd reduced by 1.9 %, of poultry by 1.6 %, of fresh fruit by 1.5 %, of meat preparations by 1.7 %, of pasta products by 3.2 %, of fresh or chilled fish by 4.1 %. Decline was registered in prices of sugar (11.2 %), eggs (2.9 %), coffee (0.7 %). In turn, due to the end of special offers, upturn was recorded in prices of milk products (2.7 %), bakery products (1.5 %), dried, salted or smoked meat (0.9 %), bread (0.5 %), as well as yoghurt (1.8 %). Increase was also recorded in prices of chocolate (of 2.2 %) and vegetable oil (4.5 %).

Prices within clothing and footwear group fell by 1.1 %. As sales of summer season footwear continued, the average price level of footwear dropped by 5.3 %. Prices of garments went up by 0.1 %.

Average price level of goods and services related to housing rose by 0.3 %. The most significant price rise within the group was registered for electricity (0.6 %). Prices of heat energy (0.3 %) also went up.

Prices of goods and services related to transport decreased by 2.0 %, which was mainly affected by the fall in prices of fuels for transport by 3.9 %. Prices of diesel reduced by 4.5 %, of petrol by 4.1 %, but of auto gas – increased by 3.0 %. Prices of passenger transport by air also went down. In turn, prices of passenger transport by sea and road went up.

Prices of goods and services related to recreation and culture rose by 0.7 %, as prices of recreation and sports services, package holidays and fiction books increased. In turn, prices of stationery and drawing materials reduced, which was mainly affected by the discounts.

The average level of restaurant and hotel service prices increased by 1.5 %. During the month, prices for hotel services increased by 8.8 %, but of restaurant and café services by 0.4 %.

Within the miscellaneous goods and services group prices decreased by 2.3 %. Prices of articles for personal hygiene and beauty products went down, which was mainly affected by the discounts.

Among other commodity groups, the most notable fall was registered in prices of household cleaning and maintenance products.

Price changes by commodity group

(as per cent)

Compared to 2015, in August 2024 consumer prices were 45.4 % higher. Prices of goods increased by 44.0 % and prices of services by 47.4 %.

Information on consumer price changes in September 2024 will be published on 8 October.

*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.

Media requests:
Communication Section
E-mail: media@csp.gov.lv
Phone: +371 27880666

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