Consumer prices in Latvia rose by 1.4% in June 2024, compared to the same month in 2023, according to data from the Central Statistical Bureau of Latvia (CSP), LETA reports. Compared to May 2024, consumer prices dropped by 0.1%, however. Average prices in a 12-month period rose by 1.9% when compared to the previous 12…
Latvia’s state-owned postal services provider, Latvijas Pasts, has submitted a new tariff plan for universal postal services to the Public Utilities Commission (SPRK), LETA reports. The company plans to raise tariffs on the domestic delivery of letters, parcels, and press publications as well as for cross-border postal services as of 2025. Latvijas Pasts said that…
Slowing inflation and strong wage growth in Estonia have increased people’s purchasing power, according to the Bank of Estonia, BNS reports. In June 2024, the consumer price index rose by only 2.5% on year, which was the slowest rate in three years, primarily due to falling energy prices. At the same time, most services have…
House prices in the Baltic States rose the most in Lithuania in the first quarter of 2024, according to Eurostat data, LSM reports. Compared to the first quarter of 2023, house prices increased by 9.9% in Lithuania, 7.8% in Estonia, and 3.7% in Latvia. Compared to the fourth quarter of 2023, house prices went up…
Latvia’s state-owned postal services provider, Latvijas Pasts, has reversed its decision to close down more than half of its post offices, LETA reports. The company will only close down 12 post offices in places where the number of post offices exceeds the requirements on universal postal services. Latvijas Pasts plans to relocate post offices in…
Estonia’s transmission system operator, Elering, plans to replace the damaged EstLink 2 undersea power cable by the end of August 2024, ERR reports. Preparatory work is ongoing, with the reserve cable sourced from Sweden. The power cable, which links Estonia and Finland, failed unexpectedly in January 2024. The fault was located at a complex point…
Forestry costs in Latvia increased significantly in 2023 compared to previous years, according to the Central Statistical Bureau (CSP), LSM reports. Forest regeneration costs rose by 6.5-19.3%, forest tending costs by 14.7-50.8%, and timber harvesting costs by 4.4% in final felling and 12.2% in intermediate felling. The overall increase in forestry costs is attributed to higher…
The planned synchronisation of the Baltic electricity grids with Western Europe in February 2025 will slightly increase electricity prices for consumers, according to Lithuanian Energy Minister Dainius Kreivys, BNS reports. The impact on prices will be minimal, around a few percent, he said. Lithuanian power grid operator Litgrid estimates that the synchronisation will cost consumers…
Estonia’s consumer price index rose by 2.8% on year in June 2024, according to preliminary data from Statistics Estonia, ERR reports. Compared to May 2024, consumer prices rose by 0.5%. In May 2024, the annual inflation rate stood at 2.9%. In 2023, annual inflation was 9.%.