The average annual inflation rate in Latvia in Latvia last year amounted to 1.3%, the Central Statistical Office reported to the LETA agency.In this in December 2024 year as compared with November consumer prices in Latvia increased by 0,2%, and for the year – in December 2024 year as compared with December 2023 year by 3.3%. The Statistical Administration noted, that the most significant impact
on the change in the levels of prices in December 2024 of the year compared with November was on transportation related goods and services (+0,3 percentage points), food food and non-alcoholic beverages (+0.3 p. p.), and also the group of miscellaneous goods and services (-0.2 p. p.), clothing and shoes (-0.1 p. p.), equipment for residential housing (-0.1 p. p.).) and housing-related goods and services (-0.1 p. p. p.). Prices
for food and nonalcoholic beverages increased by 1.1% over the month. The greatest influence
on the growth of the average level prices in the relevant group for the month was coffee (+10.5%). Mainly in the result of completion of shares became more expensive bread (+1.5%), cheese and cottage (+2%), soft beverages (+8.6%), vegetable oil (+6.6%), ice cream (+2.8%), chocolate (+1.8%) and pork (+0.9%). In addition, prices increased for cream oil (+6%), fresh fruit (+1.8%), milk (+2.5%) and eggs (+2.5%). While fresh vegetables (-3.1%), and also under the influence of shares became cheaper wilts, salted or smoked meat (-1.2%), meat of domestic poultry
(-1.2%) and sour cream (-2.1%). In the clothing and shoes group, prices decreased by 2.4 percent over the month. Mainly under the influence of actions the average price for clothing dropped by 2.1%, and
for shoes by 3.8%. For housing-related goods and services , the prices went down by 2.1%, and for shoes by 3.8%.Average level prices for month decreased by 0.3%. The most significant decrease in prices in the group for month was on electricity (-1.3%) and heat (-0.5%). The rent of
housing and solid fuels have become cheaper. In the surname, the prices for services of sewerage and water supply have increased. In the group of equipment for housing prices decreased by
2.8% month-on-month. Influenced by the stocks home cleaning and care fixtures, furniture and dishware for the house. Commodities and services related to transportation, over the month priced by 2.5%, which was driven by the increase in prices for fuel by 2,9%, increase in prices for diesel fuel
by 3.2%, for gasoline – by 2.4%, automobile gas by 2.8%. Passenger air transportation, Passenger transportation on roads increased in price. In other consumption groups the most increase in prices in the month was for hotel services, doctors specialists, beer, restaurants
and cafes, in the time as the prices of strong alcoholic beverages, complex leisure services and mobile phones. The greatest influence on the change in the average level of consumer prices in December 2024 of the year compared with December 2023 year was products of nutrition and nonalcoholic beverages (+1,4 p. p.), alcoholic beverages and tobacco products (+0.5 p. p.), health (+0.4
p. p.), goods and services, related to recreation and culture (+0.4 p. p.),
and also related to housing goods and services (-0.2 p. p.). In the group of food and nonalcoholic beverages prices increased by 5.5% over the year. The greatest influence on the increase in the average level of prices in this group in the year was coffee (+11.9%) andbutter (+34.9%). Also Dairy products (+10.8%), chocolate (+20.6%), milk (+13.1%) and meat of domestic poultry (+8.9%). Cheese and curd (+5.6%), fresh vegetables (+5.4%), olive oil (+20.3%), confectionery products (+3.4%), potatoes (+12.7%), and fruit and vegetable juices (+10.1%). Besides that, over the year, the priced salted or smoked meat (+1.9%), yogurt (+7.2%), canned or processed fish and seafood (+9.2%), soft
beverages (+10.9%) and bread (+1.3%). While sugar (-26.1%), flour and other cereals (-6%), and also fresh or chilled fish (-8.5%) became cheaper. Average level prices for alcoholic beverages and tobacco products for the year increased by 6.6%. Tobacco products for the
year have increased in average by 13%. Prices for alcoholic beverages have increased by 3.2% because of the increase in the prices of strong alcoholic beverages, wine and beer. For goods and services related to housing, the average level prices for the year decreased by 1.2%. In the year the most significant decrease in prices was for heat power (-9.5%). Electricity
(-2.6%), and also solid fuel (-3.8%). While this became more expensive services for services services of residential housing (+7.1%), collection of garbage (+16.4%), rent of housing (+6,3%),
services for maintenance and repair of housing (+7.3%), water (+5.5%) and wastewater (+4.5%). In the Healthcare group, the average level price for the year rose by 6.6%. Pharmaceutical products, dental services, dental services, specialty physician services, services of medical analysis and radiology centers. Prices for
goods and services related to leisure and culture increased by 6.3% for the year due to the increase in the prices of the costs of the pricingflowers, newspapers and magazines, complex leisure services, leisure and sports, subscription payments for television, food for domestic animals. Cheaper became
and personal computers. The average level price for services restaurants and hotels increased by 4.5% for the year. Costlier were the services of public catering, in that the increase in prices was for the services
of restaurants and cafes – by 4%, dining – by 3.9%, fast food – by 2.2%. In the year also increased the price of hotel services. In other consumption groups the most increase in prices in the year was for service and repair of personal vehicles, passenger transportation on highways,
highereducation.Pricesforpassengerair transportationhave decreased.Fuelhas become cheaperby0.8 percent.It was reported earlierthatin2023inLatviatheannual averageinflationwas8.9%,in2022year-17.3%,in2021year-3.3%,in2020year-0.2%,in2019year-2.8%,in2018year–2.5%,in2017year–2.9%,ain2016year-0.1%.
