In March, consumer prices jumped 0.6% over the previous month, which was well above the 0.1% increase observed in February. The monthly price spike primarily reflected higher prices for clothing and footwear. Despite the monthly jump, annual inflation moderated from 3.4% in February to 3.3% in March, which represents the lowest level since December 2010. Meanwhile, HICP inflation (based on the harmonized index of consumer prices) followed suit and fell from 3.3% in February to 3.2% in March. Annual average HICP inflation dropped from 4.2% in February to 4.1% in March. The Central Bank expects HICP inflation to average 2.4% this year, before falling to 2.0% in 2013.
Inflation falls to 15-month low
April 11, 2012
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Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: Central Statistics Bureau and FocusEconomics calculations.
Latvia Economic News
October 10, 2016
In September, consumer prices increased 0.4% from the previous month, which contrasted August’s 0.6% decrease.
October 4, 2016
Industrial production in Latvia contracted 0.6% year-on-year in August, which contrasted the 2.6% increase in July.
September 8, 2016
In August, consumer prices fell 0.6% over the previous month and came in below July’s 0.3% decrease.
September 5, 2016
Industrial production in Latvia grew 2.7% year-on-year in July, which was down from 7.9% increase in June.
August 31, 2016
In the second quarter, Latvia’s economy increased 2.1% year-on-year, according to a revised set of data released by the Statistical Institute on 31 August.