Latvia: Inflation comes in at highest level since June 2011 in September
Consumer prices rose 1.06% over the previous month in September, picking up from the 0.36% increase seen in August. September’s result was the sharpest increase in prices since March 2019. The reading was largely driven by rebounding prices for food and non-alcoholic beverages, as well as quicker price growth for housing and utilities.
Inflation increased to 4.8% in September, above August’s 3.8%. September’s reading was the highest inflation rate since June 2011. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.4% in September (August: 0.9%). Lastly harmonized inflation came in at 4.7% in the same month, accelerating from August’s 3.6% reading.