Latvia's annual inflation down to 3.3% in March

RIGA - In March 2024, Latvian consumer prices rose by 0.9 percent against February, while the annual inflation rate was down to 3.3 percent in March from 3.7 percent in February, according to the data released by the Central Statistical Bureau (CSB) on Tuesday.

At the same time, the 12-month average consumer price level rose by 1.9 percent in March against the previous 12 months.

Compared to February 2025, in March 2025 the average level of consumer prices increased by 0.9 percent. Rising prices of food and non-alcoholic beverages (0.4 percentage points), clothing and footwear (0.3 percentage points), alcoholic beverages and tobacco products (0.2 percentage points), goods and services related to recreation and culture (0.1 percentage point), health care (0.1 percentage point), as well as dropping prices of goods and services related to housing (0.1 percentage point), goods and services related to transport (0.1 percentage point) contributed the most to the monthly changes in consumer prices.

Over the month, prices of food and non-alcoholic beverages grew by 1.3 percent. Price rise of fresh vegetables (7 percent) and chocolate (11.9 percent) had the strongest upward influence on the average price level. Upturn was recorded in prices of fresh fruit (3.1 percent), poultry (2.6 percent), eggs (4.2 percent), margarine (12.2 percent), beef (7.1 percent). As the promotions ended, dried, salted or smoked meat (2.7 percent), cheese and curd (1.9 percent), yoghurt (4.1 percent) became more expensive. In turn, fall was registered in prices of pork (2.4 percent). Due to the discounts, prices of coffee (1.1 percent), fruit and vegetable juices (3.2 percent), potatoes (4.1 percent) and milk (1 percent) fell.

The average level of alcoholic beverage and tobacco product prices went up by 3 percent, which was mainly influenced by the increase of excise duty on alcoholic beverages as of March 1. As prices of spirits, beer and wine increased, the average level of alcoholic beverage prices went up (2.9 percent). Prices of tobacco products increased on average by 3.2 percent.

Prices within clothing and footwear group rose by 6.4 percent. Prices of garments on average increased by 5.2 percent, but of footwear - by 11.1 percent.

Average price level of goods and services related to housing fell by 0.7 percent. The most significant price drop within the group was registered for electricity (3.9 percent). In turn, increase was recorded in prices of heat energy (0.6 percent).

Within the health care group prices rose by 0.8 percent. Growth was registered in prices of pharmaceutical products and dental services.

Prices of goods and services related to transport decreased by 0.7 percent, which was mainly affected by the fall in prices of fuels for transport by 4.2 percent. Prices of diesel reduced by 4.4 percent, of petrol - by 4.6 percent, of auto gas - by 0.5 percent. In turn, passenger transport by air, as well as maintenance and repair of personal transport equipment became more expensive. Prices of other services in respect of personal transport equipment also went up, which was mainly affected by the rise in prices of technical inspection of vehicles as of March 1.

Prices of goods and services related to recreation and culture rose by 1.3 percent, as prices of television subscription fee, package holidays and flowers increased.

Among other commodity groups, the most notable rise was registered in prices of catering services, household furniture, telecommunication services. In turn, prices of articles for personal hygiene and beauty products went up.

Compared to March 2024, in March 2025 the average level of consumer prices was mainly influenced by rising prices of food and non-alcoholic beverages (1.7 percentage points), alcoholic beverages and tobacco products (0.7 percentage points), goods and services related to recreation and culture (0.3 percentage points), health care (0.3 percentage points), goods and services related to housing (0.2 percentage points), as well as a drop in prices of goods and services related to transport (0.3 percentage points).

Over the year, prices within the group of food and non-alcoholic beverages increased by 6.4 percent.

Price increases for coffee (16.2 percent) and chocolate (37.4 percent) had the strongest upward influence on the average price level within the group. Prices of poultry (11.5 percent), butter (31.1 percent), milk products (9.8 percent), fresh vegetables (5.8 percent), bakery products (6 percent) also went up. Bread (3.4 percent), dried, salted or smoked meat (3.6 percent), fresh fruit (5.4 percent), cheese and curd (3.8 percent), eggs (9.1 percent), preserved or processed fish and seafood-based preparations (11.4 percent), vegetable oil (13.1 percent), olive oil (12.7 percent), yoghurt (5.5 percent) became more expensive. In turn, fall was registered in prices of sugar (24.5 percent), pork (1.6 percent), flours and other cereals (3.4 percent).

The average level of alcoholic beverage and tobacco product prices rose by 9.8 percent. Over the year average increase of 21.6 percent was observed in prices of tobacco products. As prices of spirits, wine and beer went up, prices of alcoholic beverages increased by 3.9 percent.

Average price level of goods and services related to housing rose by 1.2 percent. Over the year, the most significant rise in the prices was for electricity (9.7 percent). Maintenance charges in multi-occupied buildings (7.5 percent), services for the maintenance and repair of the dwelling (9.5 percent), refuse collection (10.4 percent), rentals for housing (6.7 percent), liquefied gas in cylinders (12.8 percent), water supply (4.8 percent) and sewage collection (4.1 percent) became more expensive as well. In turn, heat energy (8.6 percent), natural gas (9.2 percent), solid fuels (4.7 percent) became cheaper.

The average level of health care prices grew by 4.6 percent. Over the year, prices of dental services, prices in medical specialist practice, pharmaceutical products, services of medical analysis laboratories and x-ray centers went up.

Prices of goods and services related to transport reduced by 2.1 percent, which was affected by the fall in prices of fuels for transport by 6.3 percent. Prices of diesel went down by 9 percent, of petrol - by 7.7 percent, while of auto gas - went up by 28.8 percent. Over the year, drop in prices was also registered for passenger transport by air and second-hand motor cars. Increase was observed in prices of other services in respect of personal transport equipment, passenger transport by road, maintenance and repair of personal transport equipment.

Prices of goods and services related to recreation and culture rose by 4.9 percent, as prices of television subscription fee, recreational and sporting services, newspapers and magazines, package holidays, flowers increased.

Among other commodity groups, the most notable rise was registered in prices of catering services, telecommunication services, pre-primary education. Prices of articles for personal hygiene and beauty products, motor vehicle insurance went down.