Annual inflation in Latvia down to 3% in January

RIGA - The latest data of the Central Statistical Bureau show that in January 2025, compared to January 2024, the average level of consumer prices increased by 3 percent.

Compared to January 2024, in January 2025 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages (1.2 percentage points), alcoholic beverages and tobacco products (0.5 percentage points), goods and services related to recreation and culture (0.4 percentage points), health care (0.4 percentage points), communication group (0.2 percentage points), goods and services related to transport (0.2 percentage points), as well as drop in prices of goods and services related to housing (0.1 percentage point).

Over the year, prices within the group of food and non-alcoholic beverages increased by 4.6 percent. Price rise for coffee (12 percent) had the strongest upward influence on the average price level within the group. Upturn was recorded in prices of milk products (11.6 percent), butter (27.1 percent), chocolate (21.9 percent), milk (13.6 percent) and poultry (8.2 percent).

Upturn was registered in prices of dried, salted or smoked meat (4.1 percent), cheese and curd (3.9 percent), bakery products (4 percent), eggs (9.5 percent), olive oil (20.1 percent), fruit and vegetable juices (8.7 percent).

Over the year, prices of potatoes (9.8 percent), preserved or processed fish and seafood-based preparations (8.5 percent), soft drinks (10.8 percent), as well as cereals (18.2 percent) also went up. In turn, fall was registered in prices of sugar (27.5 percent), flours and other cereals (8.4 percent), fresh vegetables (2.3 percent), bread (1.2 percent), fresh fruit (1.9 percent).

The average level of alcoholic beverage and tobacco product prices rose by 6.4 percent. Over the year average increase of 12.9 percent was observed in prices of tobacco products. As prices of spirits, wine and beer went up, prices of alcoholic beverages increased by 3.1 percent.

Average price level of goods and services related to housing fell by 0.4 percent. Over the year, the most significant drop in the prices was for heat energy (9.2 percent). Natural gas (9.2 percent), solid fuels (4.2 percent) became cheaper. In turn, prices of electricity (3.5 percent), maintenance charges in multi-occupied buildings (4.7 percent), refuse collection (13 percent), maintenance and repair of the dwelling (10.3 percent), water supply (5.9 percent), rentals for housing (4.5 percent), sewage collection (5.6 percent) became more expensive.

The average level of health care prices grew by 5.5 percent. Over the year, prices in medical specialist practice, prices of pharmaceutical products, dental services, services of medical analysis laboratories and x-ray centres went up.

Prices of goods and services related to transport increased by 1.5 percent, which was determined by the rise in prices of fuels for transport by 1.9 percent. Prices of auto gas went up by 29.2 %, of petrol - by 0.9 %, while of diesel - went down by 0.3 percent. Over the year, rise in the prices was for maintenance and repair of personal transport equipment, passenger transport by bus and by train. In turn, prices of passenger transport by air and of second-hand motor cars reduced.

Within the communication group prices on average rose by 5.9 percent. Prices of bundled telecommunication services, wireless telephone services, as well as internet access services increased.

Prices of goods and services related to recreation and culture rose by 6.3 percent, as prices of recreational and sporting services, television subscription fee, newspapers and magazines, package holidays, flowers, pet food increased. Prices of personal computers fell.

Among other commodity groups, the most notable rise was registered in prices of restaurant and café services, garments, personal identification document issuance fee, canteen services. Prices of footwear, articles for personal hygiene and beauty products, motor vehicle insurance went down.

Compared to December 2024, in January 2025 the average level of consumer prices increased by 0.6 percent. Rise in prices of goods and services related to housing (0.6 percentage points), prices of food and non-alcoholic beverages (0.2 percentage points) as well as drop in prices of clothing and footwear (0.3 percentage points) contributed the most to the price level changes.

Over the month, prices of food and non-alcoholic beverages grew by 0.6 percent. As the sales campaigns ended, prices of dried, salted or smoked meat (2.7 percent) had the strongest influence on the average price level. Due to the end of special offers, prices increased for milk products (3.1 percent), fresh or chilled fish (12.5 percent), cheese and curd (1.5 percent), fresh vegetables (1.6 percent), poultry (1.3 percent), milk (1.4 percent), chocolate (1.9 percent), bakery products (0.8 percent), as well as vegetable oil (3.6 percent). In turn, due to the discounts, prices of bread (2.6 percent), pasta products (3.3 percent) and meat preparations (1.4 percent) fell.

Prices within clothing and footwear group fell by 4.9 percent. Affected by discounts and sales of winter goods, the average price level of garments dropped by 4.5 percent, but prices of footwear - by 7.4 percent.

Average price level of goods and services related to housing rose by 3.3 percent. The most significant price rise within the group was registered for electricity (12.1 percent). Maintenance charges in multi-occupied buildings (2.8 percent), natural gas (2.6 percent), services for the maintenance and repair of the dwelling (3.4 percent), refuse collection (3.4 percent) also became more expensive. In turn, solid fuels became cheaper (1.3 percent).

Within the health care group prices rose by 0.8 percent. Prices of dental services and in medical specialist practice went up. Average level of prices of pharmaceutical products grew by 0.3 percent.

Goods and services related to transport were 0.4 percent cheaper, which was mainly determined by the drop in prices of passenger transport by air. Reduction was observed in prices of passenger transport by road, as well as for second-hand motor cars. In turn, prices of fuels for transport went up by 3.4 percent, as prices of diesel rose by 3.6 percent, of petrol - by 1.7 percent and of auto gas - by 11.8 percent.

Within the miscellaneous goods and services group prices increased by 1.4 percent. Increase of personal identification document issuance fee had the most significant impact on the price rise within the group. Mainly due to the end of sales campaigns, articles for personal hygiene and beauty products became more expensive.

Among other commodity groups, the most notable rise was registered in prices of spirits, television subscription fee, recreational and sporting services. In turn, prices of hotel services, household cleaning and maintenance products, package holidays, flowers reduced.

Compared to 2015, in January 2025 consumer prices were 47.6 percent higher. Prices of goods increased by 46.7 percent and prices of services by 47.9 percent.