12. february 2014

Inflation in Latvia slows down to an almost zero level

Compared with December 2013, in January 2014 consumer prices in Latvia increased by 0.6% per year, and by 0.4% compared with January 2013, the Central Statistical Bureau (CSB) informs.

The average annual inflation, i.e. the average consumer price index, stayed almost the same for the past 12 months compared with the previous 12 months in January.

Commodity prices increased by 0.5%, and service prices increased by 1.1% within the month, and Commodity prices increased by 0.3%, and service prices increased by 2.3% within the year.

“Compared with the price trend in January established during the previous years, this year the service prices are growing twice as fast as commodity prices”, the CSB states.

The monthly consumer price index is mostly affected by the growth in food prices by 1.7% and price of household commodities and services by 0.9%, and the decrease in clothing and shoe prices by 6.5%.

The yearly consumer price index is mostly affected by the growing prices of personal-use commodities and services, hotel and restaurant services, alcohol and tobacco, and the decrease in transportation services and commodity prices.

Source: delfi.lv

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