Latvian Business

The process of escalation marks an upcoming return to the growth levels experienced in the February-April period, when they were between 0.6 and 0.8 percent. As in recent months, the main factor of the increase was the rise of prices for food and non-alcoholic beverages, up 0.7 percent since June. Similarly, the year-on-year increase was pushed by a 10.8 percent growth of food prices, which accounted for more than half the annual change. Sugar saw the most dramatic price growth, rising 62 percent since last July. Other big movers were coffee, up 51 percent; apples, 46 percent; and potatoes – 45 percent. Eggs, on the other hand, were 19.5 percent cheaper than they were a year ago. A 5.1 percent rise in the cost of housing, an 8.6 percent rise in the cost of alcoholic beverages and tobacco, and a 4.7 percent rise in the cost of transport also helped to escalate the annual price rise.