Latvia Inflation


Inflation falls to 18-month low

In May, consumer prices fell 0.2% over the previous month, which contrasted the 0.6% increase tallied in April. The monthly drop reflected lower prices for transport as well as for household equipment. As a result of the monthly decline, annual headline inflation fell from 2.8% April to 2.2% in May, which represents the lowest level since November 2010. Meanwhile, HICP inflation (based on the harmonized index of consumer prices) declined from 3.2% in April to 2.8% in May. Annual average HICP inflation dropped from 4.1% in April to 4.0% in May. The Central Bank expects HICP inflation to average 2.4% this year, before falling to 2.0% in 2013.

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Latvia Inflation Chart

Latvia Inflation May 2012

Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: Central Statistics Bureau and FocusEconomics calculations.

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