Average housing prices in Latvia rose by 1.1% in the second quarter of 2024 from the same period of 2023, according to provisional data from the Central Statistical Bureau (CSP), LSM reports. Prices of new housing increased by 11.4%, whereas the average price of existing housing dropped by 2.0% over a year. Compared to the first…
Lithuania’s GDP will grow by 2.3% in 2024 and 2.9% in 2025, according to the Finance Ministry’s revised forecast, BNS reports. In June 2024, the ministry projected that the GDP would grow by 2.1% in 2024 and 2.9% in 2025. Average annual inflation will slow down to 1.0% (1.1%) in 2024, before rising to 2.5%…
Consumer prices in Latvia rose by 0.7% in August 2024, compared to the same period of 2023, according to the Central Statistical Bureau’s (CSP) data, LETA reports. Compared to July 2024, consumer prices fell by 0.5%, however. Prices of food and non-alcoholic beverages increased by 3.5%, alcoholic beverages and tobacco by 7%, clothing and footwear…
Estonia’s Ministry of Climate will propose legislation to support the development of more wind farms both on land and at sea, ERR reports. Climate Minister Yoko Alender said that the ministry would create a 20-year support plan for offshore wind farms. The ministry plans to hold an auction for offshore wind capacity in the first…
The consumer price index (CPI) in Estonia rose by 3.2% on year in August 2024, according to data from Statistics Estonia, ERR reports. The price of goods rose by 1.4% and services by 6.3% over a year. Compared to July 2024, the CPI rose by 0.4%. The CPI was affected the most by the increase…
The Latvian government has decided to pay compensation to low-income households for rapid rises in energy prices, LSM reports. The permanent support mechanism will apply to exceptional price increases for electricity, heating, and biomass fuels. Households with per capita income of up to EUR 473 per month and housing expenditure of at least 30% of…
Latvia’s industrial production rose by 1.4% on year in July 2024, according to the Central Statistical Bureau’s (CSP) calendar-adjusted data at constant prices, LSM reports. Output in manufacturing declined by 6.4%, while output in mining and quarrying increased by 6.1% and in electricity and gas supply by 66.0% over a year. Compared to June 2024,…
Estonia’s privately-owned gas supplier, Eesti Gaas, will raise the price of natural gas for household consumers as of 1 October 2024 due to fluctuations in European gas market prices, ERR reports. The new tariff will be EUR 0.59 per m3, including VAT. In August 2024, Eesti Gaas cut the gas price to EUR 0.525 per…
Electricity prices in Estonia will increase significantly following the planned decoupling from the Russian electricity grid in February 2025, Postimees reports. Currently, the rate for production and consumption stands at just EUR 0.04 per MWh. Estonia’s transmission system operator, Elering, has proposed raising the rate to as much as EUR 5.31 per MWh, largely due…