Food has become less accessible; we went back 5-7 years ago

This also explains why food trade is declining.

According to the Central Statistical Office (CSO), the average net salary in 2023 increased by 2.2%, however, taking into account the level of wages of the population and changes in prices for various groups of goods and services, as well as the increase in loan rates, we can conclude that In general, 2023 was not conducive to improving the financial situation of Latvians.

Food is the largest item of household expenditure, on average accounting for regarding a quarter of monthly expenses.

If you look at the CSO data on how many goods can be bought in Latvia with an average salary and how these indicators have changed in recent years, you will see a bleak picture. Data on changes in the purchasing power of workers for 13 food groups show that only two of them saw an increase in purchasing power over the past year. For the remaining 11 food groups, purchasing power fell, with double-digit declines in some groups.

This indicator decreased most of all in relation to sugar. The average salary last year might buy it 27% less than in 2022, and over two years the drop was 45%.

With the average salary received in person last year, one might buy 340 kg of white and 347 kg of rye bread, which is 22.6% and 18.2% less, respectively, than a year earlier.