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In February 2011, consumer prices rose 0.3% from January 2011, during the years of rapid growth – 1%, writes LETA.

In February 2012, consumer prices grew due to food and fuel price increases. Due to seasonal factors, food prices rose 0.8%, increasing the average consumer price level by 0.19%. Food prices on global markets have been moderately growing since the end of 2011. Their index has increased 2.1% over two months, informed Salmins.

In the first months of 2012, oil prices on global stock markets increased. Nevertheless, EUR to USD exchange rate growth partially compensated this, explained Salmins. Global developments also affect fuel prices. Fuel prices rose 1.7% in February, increasing the average consumer price level by 0.1%. Compared to December 2011, fuel prices increased by 6%.

The Economy Ministry predicts that consumer price growth rates will gradually slow down in the next few months. However, further dynamics of global fuel and food prices is still uncertain. The ministry predicts that the average consumer price level will be between 2.2 and 2.5% higher this year than in 2011.

As reported, compared to January, the average consumer price level in February rose 0.1%, during which the average prices of goods rose 0.2%, but of services – 0.1%, according to data from the Central Statistical Bureau.

Compared to February 2011, consumer prices increased 3.4%. The average price level for goods increased 4.2%, but for services – 1.4%.