Latvia records 0.2% deflation in August
09 September 2020
The average level of consumer prices this past August decreased 0.5 percent from July, while year-on-year, the average level of consumer prices decreased by 0.2 percent,
according to the Central Statistical Bureau's data.
In August 2020 as compared to July, prices of goods decreased 0.9 percent and prices of services increased 0.4 percent. Compared to August 2019, prices of goods fell by 1 percent, while prices of services rose by 1.6 percent. Month-on-month, the greatest pressure on the price changes was put by a drop in prices of food and non-alcoholic beverages, goods and services related to housing, goods and services related to transport, clothing and footwear, as well as by the rise in prices of goods and services related to recreation and culture. Over the
month, prices of food and non-alcoholic beverages declined by 1.2 percent. Under the influence of seasonal factors price drop of fresh vegetables (of 9.6 percent) and potatoes (23.4 percent) had the strongest downward influence on the average price level within the group.